# AND - Andean Resources



## guycharles (17 June 2004)

I am looking for information on Andean resources.
Can anyone help me out?


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## Joe Blow (17 June 2004)

*Re: AND*



> I am looking for information on Andean resources.
> Can anyone help me out?



What sort of information are you looking for?


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## guycharles (17 June 2004)

*Re: AND*

I was trying to see if anyone knew when the drilling results are to be made public. I saw a posting on another site that said it could be released soon.


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## Joe Blow (17 June 2004)

*Re: AND*



> I was trying to see if anyone knew when the drilling results are to be made public. I saw a posting on another site that said it could be released soon.



Don't know too much about AND but you've piqued my interest. 

Might go take a look at it.

Hope someone else can help you out with some info.


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## guycharles (24 June 2004)

*Re: AND*

Looks like it is getting ready for a run. 7 cent resistance has been crushed. Next resistance is at 12 cents.


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## guycharles (25 November 2004)

*Re: AND*

I love going back and reading my old posts, this one has been a good little runner.


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## saichuen (11 October 2005)

*Re: AND*

hi all,

i'm new in this forum and hence would like some advices/inputs in relation to this stock (AND) from anyone who knows anything about it.

the company is gonna raise another 5.5mils in capital through equity to fund its exploration project in Cerro Negro. it's something along the line of 2 for 13 non-renounceable entiltlements at 15.5 cents per share. what does that all mean and does it has any impact on the current share price sitting at around 0.2 or so? 

http://www.andean.com.au/images/andean-28--uochi.pdf

anyone care to enlighten me here?   

cheers!


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## GreatPig (23 February 2006)

Nice breakout above recent highs with a 20% increase today (don't ask me why - I haven't bothered to find out ).

This could keep going higher, but since I'm trying to sell down before my holiday to Japan in a few weeks, and because I won't be able to access the market at all tomorrow (all day meetings <groan>), I sold out this afternoon.

Cheers,
GP


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## bvbfan (23 February 2006)

Takeover offer from Kingsgate (KCN)


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## Crumpy (25 March 2006)

I thought I would raise a couple of points on this stock and see if anyone has similar opinions to myself.

The company will respond to the t/o offer formally this week, which is obviously going to be now way....but what might be interesting is, if the company puts a price on what they think it is worth.

Another interesting point is that the CBA has become a shareholder after the t/o offer was released and they have increased their holding from 5 to 7.5%.
This 7.5% has been brought at a price of 38-42. I think this gives the company some real credit.

And on friday at the end of trade the 600,000 shares that have been sitting at 42c(s/p high) for three weeks were snapped up at 3.54pm on a day of high volume.

My opinion is that this company is starting to get some attention from the big boys and with drilling results coming back positive every time and the posibility that there is some other comany about to throw in a bid it is going to be an interesting week or so ahead....not to mention the nice jump in gold on friday night.

I'm interested to hear if anyone has any info to throw into the ring??????

I've held this stock for some time and have increased my holdings a few times on the way up.


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## Out Too Soon (12 February 2007)

Another good pick from Pacers moggie, I wonder if the bumpy climb up will continue.


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## TheAbyss (13 March 2007)

Test results released today for Andean. The market seemed to like them. Has anyone had a chance to evaluate?

They have also announced that they are extending the share purchase plan by a week so the market can digest the results.

Strong close on good volume so there should be some steam left in this for a while yet IMO.


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## EZZA (31 July 2007)

can't believe some of you guys were monitoring this stock from a few years ago, would have been sitting on a nice profit if anyone held it for that long.

and back to 95c, gone into some other small caps.  was watching this stock few months ago, at 70c wen fin review had article on this one.  not sureif i'm willing to go in at these levels even though they have pulled at a bit,
seems to be forming  support at the 95 c mark though.

anyone holding this stock?


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## F-P (23 August 2007)

EZZA said:


> anyone holding this stock?




I bought lots at 33c, 40c and 57c.  Sitting on a very healthy margin.

With the impending (September) update of the existing JORC compliant resource at Vein Zone, and various other activities, I hope this run will continue.

Further, relative to other junior resource stocks, AND seemed very resilient during last weeks correction.  This gives me further encouragement in the underlying strength of this stock.


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## alphman (30 September 2007)

This is one stock that has been on the rise but a market cap of >$350m?????    Am I missing something here?  840,000oz Au resource inferred so far with a re-estimate to come any moment.   I agree that this is exciting, but when I saw their market cap I nearly swallowed my tongue!  Who's buying this, and why??????


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## Lachlan6 (30 September 2007)

AND is looking interesting at the moment. It has largely followed the fortunes of many oil companies such as AED and now has reached an important juncture. Will this play out as a potential double top. I doubt it, but this weeks candle is undeniably weak. However it occured on minimal volume. I favor much higher upside for this stock. I scaled in at $0.94 then $1.03 and will look to purchase some more if it can break into new highs. Note the decline in August corresponded to exactly the 50% retarcement level from the August 06 lows to the peak in June.


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## adobee (18 October 2007)

Is anyone still following AND, no recent posts the charts show it just continuing to head up and up ?


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## adobee (6 November 2007)

AND continuing to push ahead.. 

I notice one of the major shareholders pick up some more recently ..

Date       Shareholder                             Previous % New % Shares Traded 
01-11-07 Sentient Executive GP1 Limited   15.54          19.73      23,685,023


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## adobee (21 November 2007)

Big gold deposits in the Andys and nobody following this company.. Do people dislike Argentina ???

I think every thing about AND looks good.. I am jumping on this horse ..


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## Aargh! (21 November 2007)

adobee said:


> Big gold deposits in the Andys and nobody following this company.. Do people dislike Argentina ???
> 
> I think every thing about AND looks good.. I am jumping on this horse ..




This one has been in my radar for about a month now. Haven't had a chance to have a good look at it yet. Money magazine recommended buying it at 19 cents!

I've got it on my to do list


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## Taurisk (22 November 2007)

Aargh! said:


> This one has been in my radar for about a month now. Haven't had a chance to have a good look at it yet. Money magazine recommended buying it at 19 cents!
> 
> I've got it on my to do list




Hi

This recommendation must be 2 years old -last sale today @ 1.70! In a sea of red AND added 0.06 today, that's a 3.35% increase.

cheers

Taurisk 

I don't hold


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## adobee (11 December 2007)

ANDEAN REPORTS 21M OF 49 G/T GOLD EQUIVALENT AT EUREKA WEST • EDD-749 drilled 50m to the west of Phase 3 drilling intersects 21m of 32.3 g/t gold and 904 g/t silver, or 21m of 49 g/t gold equivalent (assuming 55:1 Ag:Au ratio) • EDD-748 drilled 50m to the west of Phase 3 drilling intersects two intersections of 15m of 10.5 g/t gold and 95 g/t silver plus 8m of 32.4 g/t gold and 570 g/t silver • Infill drilling continues to produce higher grades at Eureka West than was previously modelled • Additional step-out drilling to the west awaiting assays


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## adobee (31 December 2007)

ANDEAN has broken through $2.10 this morning reaching its newest high.. There is significant shares being bought up to about  1 million so far (significant compared to the usual 200k per day) no announcements out however someone must be keen to get in.. There did look to be a fair amout of resistance at $2 which is now gone.. 

The question is do I by more at an all time high thinking something great may be coming or do I just watch ....


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## grace (31 December 2007)

adobee said:


> ANDEAN has broken through $2.10 this morning reaching its newest high.. There is significant shares being bought up to about  1 million so far (significant compared to the usual 200k per day) no announcements out however someone must be keen to get in.. There did look to be a fair amout of resistance at $2 which is now gone..
> 
> The question is do I by more at an all time high thinking something great may be coming or do I just watch ....




At least you still hold some....can't believe I had them at around 40c earlier this year and took a 10% profit......


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## adobee (3 January 2008)

ANDEAN MENTIONED IN THE FINANCIAL REVIEW YESTERDAY AS A POSSIBLE TAKE OVER TARGET FOR 2008 ALONG WITH ZINIFEX, ATLAS IRON AND A COUPLE OF OTHER COMPANIES..


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## grace (3 January 2008)

adobee said:


> ANDEAN MENTIONED IN THE FINANCIAL REVIEW YESTERDAY AS A POSSIBLE TAKE OVER TARGET FOR 2008 ALONG WITH ZINIFEX, ATLAS IRON AND A COUPLE OF OTHER COMPANIES..




Would you mind putting the full list in the thread devoted is ASF for takeover targets for 2008 (from analysts viewpoint).  Thanks


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## adobee (3 January 2008)

grace said:


> Would you mind putting the full list in the thread devoted is ASF for takeover targets for 2008 (from analysts viewpoint).  Thanks




If yesterdays fin is still at home I will do it tomorrow.. Generally anything left out is in the bin by today..


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## adobee (22 January 2008)

ANDEAN is down significantly (as are all stocks) however the volume has only been relatively small over the past days..  Can anyone give me an idea of what they think this means and the effect on the potenial rebound if the market turns around ?


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## Goldmann (22 January 2008)

The whole market is down!!! AND has copped it like most of the speccie producers... a 25% write down seems normal for those speccies with DIO, AXT, VRE all getting hammered!

I finally bought some AND today at 1.32. Had been looking to get in at nearly $2 around Xmas... I know there will likely be more short term pain, but in the long term I think it will be a good buy.


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## explod (22 January 2008)

adobee said:


> ANDEAN is down significantly (as are all stocks) however the volume has only been relatively small over the past days..  Can anyone give me an idea of what they think this means and the effect on the potenial rebound if the market turns around ?




With the volume low those who hold are happy to do so.  A few spooked by the market is to be expected.   The ones to worry about are those going down on very large volume, speculators who got in with limited knowledge.  Those in Andean know they have something special.

   AND no worries.


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## adobee (23 January 2008)

ANDEAN AND ATLAS are the only two stocks I havent sold out off. I have continued to pick up andean all the way down, the fact that its reasonable tightly held is keeping me confident on this one..  I look forward to a resource update in the first quarter of 08 and the PFS in third quarter.. and my new boat in the fourth!!


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## adobee (29 January 2008)

Can anyone tell me what the recent announcement for ANDEAN says, there is a announcement sign showing on my comsec but I cant bring anything up which isnt after the 10th ?  I cant find anything on ASX or ANDEAN website either ?? (Its probably nothing but I would still like to know asap!!!)


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## adobee (29 January 2008)

Thanks for the rush of help ... Ive got it now :

ANDEAN DRILLS 18M OF 67.7 G/T GOLD AND 1207 G/T SILVER AT EUREKA WEST 
• Positive infill drilling in Eureka West resource including ERC-764 with 18m of 67.7 g/t gold and 1207 g/t silver • Multiple step-out holes intersected high grades including EDD-765 with 17m of 37.3 g/t gold and 1041 g/t silver • ERC-767 and EDD-753 extend Eureka West a further 100m with high grades • Andean on schedule to complete new interim resource estimate in Q1 ’08 • Exploration drilling continues with 3 drill rigs at Eureka


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## adobee (29 January 2008)

Andean and Micon are currently preparing an *updated Eureka West resource estimate *which will incorporate the drilling completed up to and including this release. This revised resource estimate will form the basis for the Pre-Feasibility Study mineplans. It is expected that the results of the updated NI 43-101 compliant resource estimate will be *released in March 2008.*


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## Goldmann (29 January 2008)

Goldmann said:


> The whole market is down!!! AND has copped it like most of the speccie producers... a 25% write down seems normal for those speccies with DIO, AXT, VRE all getting hammered!
> 
> I finally bought some AND today at 1.32. Had been looking to get in at nearly $2 around Xmas... I know there will likely be more short term pain, but in the long term I think it will be a good buy.




yeah more good news!  and more to come!

my 1.32 purchase less than two weeks ago is certainly making me smile!


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## adobee (11 February 2008)

Andean noted in the Saturday 9th Feb Financial Review along with Oxiana and a few others as top five take over targets for 2008


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## adobee (26 March 2008)

ANDEAN EXTENDS EUREKA WEST WITH 14M OF
18.6 G/T GOLD AND 159 G/T SILVER
• Eureka West Vein extended by a further 50m to the west with
drill-hole ERC-812 assaying 18.6 g/t gold and 159 g/t silver
over 14m
• Eureka West Vein is now at least 700m long with an estimated
average true width of about 8 to 10m containing high grades
in gold and silver
• High-grade infill drilling confirming continuity of
mineralization at Eureka West
• Andean on schedule to complete new interim resource
estimate at Eureka West deposit in Q1 08
• Infill drilling complete and 3 drill rigs now focused on finding
new mineralization


Lets hope someone makes a takeover move soon.. all my other take over targets seem to have fallen over ..


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## adobee (27 March 2008)

Andean has arranged $42.7m capital at $1.65 per share.
This seems quite positive I was actually thinking it would be a lower amount.. I am relieved to think that some other people think it is worth having shares at this price at least!


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## adobee (7 April 2008)

With further turmoil for financials and a strong potential for gold to head back towards $1000 I am picking up more AND at the current level $1.60.. I wouldnt be surprised in a take over attempt shortly.. lower price.. shareholders a bit more sceptical as there dream upwards only run begins to change and feel some volatility..


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## adobee (17 April 2008)

Perth Australia, April 17th, 2008 – Andean Resources Ltd (ASX:AND; TSX:AND) reports an updated mineral resource estimate for the Eureka West Veins including the following highlights: • Infill drilling confirms continuity of the high gold and silver grades • *Gold and silver grades more than doubled from the previous October 2007 resource estimate *• *Total mineral resource tonnage up 15% from the prior estimate • More than 1 million ounces of gold and 18 million ounces of silver; with grades of 12.9 g/t gold and 235 g/t silver in the Indicated category*


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## kransky (18 April 2008)

Now that's a deposit... not like these 1.8g/t resource statements i'm sick of reading about... pfft

+1M Oz at 12g/t

Can we get some info on the expected production rates, operating costs, capical costs so i can make an estimate of how undervalued this puppy is?


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## adobee (30 April 2008)

Based on drill results through to March 2008, completed a JORC and NI 43-101compliant resource estimate for 1.4 million ounces of gold and 23.7 million ounces of silver at Eureka West • Expanded the Phase 4 drill program by 25% to be completed in June 2008 • Closed a A$43 million financing in April 2008 by an issue of 25.8 million shares primarily into North American investors • Hired Stabro Kasaneva as Andean’s VP of Operations • Pre-Feasibility Study on schedule for 3rd Quarter 2008


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## adobee (30 May 2008)

Dont know what was happening today but getting some big interest.. alot of sellers wipe out and reasonable volume plus some huge X trades..
Hopefully we will see some action soon as AND has be sliding with the gold price for some time now..


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## Sean K (19 December 2008)

Um, 30m at 50g/t....

WTF! 


*ANDEAN INTERSECTS 31M OF 52.1 G/T GOLD AND 568 G/T SILVER IN A DEEP GEOTECHNICAL HOLE AT CERRO NEGRO*

December 19, 2008, Perth Australia -- Andean Resources (AND:ASX; AND:TSX) reports the second set of results from its recently commenced 2008/09 drill program at its 100% owned Cerro Negro project in Southern Argentina including the following highlights:

• EDD-887, drilled more than 50m below the base of the current Eureka West Resource intersects 31m of 52.1 g/t gold and 568 g/t silver
• Contour exploration (incremental step-outs) continue to extend mineralization at Eureka West
• Infill drilling at Eureka West continues to confirm structural and grade continuity, supportive of further upgrading of inferred resources
• Eureka West remains open at depth and to the west


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## adobee (29 January 2009)

Lots of action on ANDEAN today..  no announcements but biggest volume for along time.. either an institution buying in or some leaked news out...


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## adobee (29 January 2009)

My bad was an announcement out yesterday !

ANDEAN INTERSECTS 32M OF 34.6 G/T GOLD AND 214
G/T SILVER WITH A 50M STEPOUT
January 28, 2009, Perth Australia -- Andean Resources (AND:ASX; AND:TSX) reports the
next set of results from its ongoing 2008/09 drill program at its 100% owned Cerro Negro
project in Southern Argentina. Today’s results include the following highlights:
· EDD-901 drilled 50m to the west of EDD-887 (31m of 52.1 g/t Au
and 568 g/t Ag) at a similar depth and intersected 32m of 34.6m Au
and 214 g/t Ag on the Eureka West veins
· 721 Vein extended along strike with high grades, including
ERC-8135, which intersected 4m of 49.6 g/t Au and 667 g/t Ag
· New high-grade zone intersected in the Eureka Main vein including
ERC-8125 with 4m of 32.0 g/t Au and 844 g/t Ag
· Deep step-out drilling continues at Eureka West
Reported widths are intersected widths, and true widths are less in every case (


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## eddyeagle (2 February 2009)

Andean had a fantastic last week or so - up 69% from the friday to the friday! And almost tripled in two months! Cant believe I didnt top up at 50 cents!


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## adobee (24 February 2009)

still moving strongly.. something definetly coming out on this front.. havent seen as much activity for a long time...


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## adobee (24 February 2009)

February 24, 2009, Perth Australia -- Andean Resources (AND:ASX; AND:TSX) reports the next set of results from its ongoing 2008/09 drill program at its 100% owned Cerro Negro project in Southern Argentina. Today’s results include the following highlights:

• EDD-915, the deepest intersection at Eureka West to-date, drilled beneath EDD-901 intersected 26m of 24.5 g/t Au and 125 g/t Ag
• ERC-903 intersected 10m of 8.0 g/t Au and 91 g/t Ag
• Deep step-out drilling continues at Eureka West


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## Sean K (1 April 2009)

adobee said:


> February 24, 2009, Perth Australia -- Andean Resources (AND:ASX; AND:TSX) reports the next set of results from its ongoing 2008/09 drill program at its 100% owned Cerro Negro project in Southern Argentina. Today’s results include the following highlights:
> 
> • EDD-915, the deepest intersection at Eureka West to-date, drilled beneath EDD-901 intersected 26m of 24.5 g/t Au and 125 g/t Ag
> • ERC-903 intersected 10m of 8.0 g/t Au and 91 g/t Ag
> • Deep step-out drilling continues at Eureka West



Probably due for some more results shortly.



> Next Steps
> Andean’s 2008/09 exploration programs continue to progress ahead of schedule. Three drills are on the property exploring the Eureka West veins to depth, extending the 721 vein, and drill-testing areas for the Bankable Feasibility Study. Another deep hole has been drilled beneath ERC-903, on section 100E, intersecting quartz vein in the Eureka West veins beneath the 300masl elevation.




Has been outstanding in this environment.

Any clues as to what went on yesterday. I was looking at a likely break up, and it just tanked. A directors wife having to sell??


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## adobee (1 April 2009)

not sure yesterday as CBA exited about a week ago.. but substanial pick up again this morning... will see...


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## Sean K (2 April 2009)

Breaking up, but overall just continuing it's awesome run.

Is it getting toppy for the IGV at this point. Just an explorer/developer.

Awesome deposit and grades I suppose. And really low cash costs out of the PFS. 

With a further resource upgrade, well, it looks pretty bloody good.

Target perhaps?


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## adobee (3 April 2009)

Closed at 1.85 and back down to 1.64 this morning ????  
See if it climbs up again slowly today..  At least there is begining to be some interest in the company..


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## adobee (14 April 2009)

Plenty of gold in them hills ..

Deeper drilling continues to extend the Eureka West veins: 
• 50m to the west with EDD-944 -- 6m of 10.3g/t Au and 123g/t Ag 
• 50m to depth with EDD-939 -- 12m of 12.3 g/t Au and 71 g/t Ag 
• Regional exploration success discovers new gold vein at the previously undrilled Bajo Negro prospect, (13km south east of Eureka) 
• BRC- 904 intersected 6m of 11.8 g/t Au and 14g/t Ag from 111m 
• New silver veins intersected by drilling at Mariana Sur 
*• New Resource upgrade on track for completion in May 2009*


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## Sean K (13 May 2009)

Maybe the new resource estimate due will give this more impetus, or maybe it's factored in?

Looks like the market thinks that it's probably worth about $1.60-70, but is that with the upgrade, or not?

I'd guess that quite a bit of it is.

Has a very high MC for an explorer, maybe deservedly so, but I wasn't game to chase it on it's value to current known and perceived potential IGV. 

Seems to be breaking a little suport here. Needs a massive JORC boost I feel to hold these levels.


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## eddyeagle (21 May 2009)

A nice little spike of around 25% in only a few days for Andean. Not that far off its DEC 2007 highs now.


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## Sean K (22 May 2009)

eddyeagle said:


> A nice little spike of around 25% in only a few days for Andean. Not that far off its DEC 2007 highs now.



Yep, since I said it looked to be falling over it's done very well. lol Could be something to do with POGs climb, or maybe a leaky boat? Resource upgrade due in May.


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## adobee (25 May 2009)

since I sold out around 1.67 it has been going very nicely...
some people taking positions at this high point is rather strange..
will keep watching but not sure where I will consider re-entry..


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## adobee (29 May 2009)

wow broken through $2 this morning..  pretty much immediate upwards run since I sold out... kicking myself.. potential take over  ??


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## eddyeagle (6 July 2009)

After a strong run on high volume during mid-late May, Andean tapered off in June. I think the chart looks like a flag pattern which should be bullish,  assuming gold holds up. Thoughts?


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## Sean K (7 July 2009)

eddyeagle said:


> After a strong run on high volume during mid-late May, Andean tapered off in June. I think the chart looks like a flag pattern which should be bullish,  assuming gold holds up. Thoughts?



Still bullish while $1.70 ish holds. Yes, relies on POG strength and the overall market. Once people start selling just about everything is effected. 


The resource upgrade expected in May didn't make it out till 9 June, but was along expected lines. More ounces to be added due to recent new discoveries. Amazing overall grades. 

They're also doing some sort of capital raising for CAD90m which will look handy in the bank, but dilutes them quite a bit too. Not sure how 'cheap' they are looking with mc to oz au now, even with those grades.. 

*ANDEAN RESOURCES REPORTS AN UPDATED RESOURCE AT THE EUREKA VEINS*

Highlights
• Updated independent Resource Estimate for Eureka Veins delivers:
 a 38% increase in the Indicated gold Resource to 1.4M oz Au; and
 a 20% increase in the global gold Resource at Eureka
• The increase in gold and silver resource will significantly improve the already robust project economics at Cerro Negro, which are currently the subject of a Bankable Feasibility Study (“BFS”).
• Eureka West indicated resource zone diluted grade of 12.5 g/t Au and 184 g/t Ag gives a *combined grade of 15.6 g/t AuEq (gold equivalent), *making Eureka one of the highest-grade undeveloped gold projects in the world
• A very high-grade core to the mineralization exists with approximately 2.5 million tonnes at 17.2 g/t Au and 223 g/t Ag of indicated material identified to date
• The Eureka vein system remains open at depth and along strike, with only 25% of the known strike length of the outcropping Eureka vein system included in this resource estimate.
• *Further upside potential remains at Cerro Negro, following the recent highgrade Bajo Negro vein discovery (not included in this estimate)*


*June 25, 2009,* Perth Australia -- Andean Resources (AND:ASX; AND:TSX) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, including CIBC World Markets, Paradigm Capital, RBC Capital Markets, Thomas Weisel Partners, UBS Securities, Haywood Securities, and Dundee Capital Markets, under which the underwriters have agreed to buy on a “bought deal” basis by way of a short
form prospectus, a total of 56,250,000 Common Shares (the “Common Shares”), at a price of C$1.60 per Common Share for gross proceeds of C$90,000,000.


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## Sean K (8 July 2009)

Bajo Negro ('Black Below', huh?) firming up to be a decent deposit.


*ANDEAN RESOURCES EXPANDS BAJO NEGRO DISCOVERY AND PROVIDES ADDITIONAL DISCLOSURE*

July 8, 2009, Perth Australia -- Andean Resources Ltd. (AND:ASX; AND:TSX) is pleased to report six additional diamond drill results from the recent Bajo Negro discovery at its 100% owned Cerro Negro gold and silver project in Southern Argentina. These latest results continue to provide new resource potential at the project and highlights include:

· BDD-914 intersected 3.5m of 26.7 g/t Au and 58 g/t Ag from 242m
· BDD-915 intersected 5.25m of 18.7 g/t Au and 27 g/t Ag from 202m
· BDD-918 intersected 7m of 10.3 g/t Au and 20 g/t Ag from 121m
· Strike length of the vein has now been tested along approximately 550 meters
· Mineralization remains open at depth
· To date, all 19 drill holes in Bajo Negro have intersected mineralization with
grades exceeding 2.5 g/t Au over mineable widths


Some great grades in there....


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## So_Cynical (8 July 2009)

kennas said:


> Still bullish while $1.70 ish holds. Yes, relies on POG strength and the overall market. Once people start selling just about everything is effected.




I would of though that a chart u posted in another thread may indicate that AND is fairy 
valued when compared to other gold stocks, keeping in mind there prob 2 years away from 
producing anything, still the Andean deposits are outstanding in comparison.


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## Sean K (9 July 2009)

So_Cynical said:


> I would of though that a chart u posted in another thread may indicate that AND is fairy valued when compared to other gold stocks, keeping in mind there prob 2 years away from producing anything, still the Andean deposits are outstanding in comparison.



That's a little dated, but probably still close to the mark.

'fairy valued' ? How much are fairies these days to do a comparison? 

On the surface of it, I'd actually say overvalued. A lot of positives are factored into the share price and perhaps expectations of huge upgrades in the total resource and possibly a takeover.


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## So_Cynical (9 July 2009)

kennas said:


> That's a little dated, but probably still close to the mark.
> 
> 'fairy valued' ? How much are fairies these days to do a comparison?




LOL and i was completely sober.  i make so many typos. :shake:

Now one would think a good mod mite just fix the odd typo.


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## jman2007 (9 July 2009)

kennas said:


> That's a little dated, but probably still close to the mark.
> 
> 'fairy valued' ? How much are fairies these days to do a comparison?




LMAO!!

Tbh a group of fairies might actually do a better job than some of the teabags sitting on the Board in some of the companies I hold ...


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## eddyeagle (4 September 2009)

Up 9% to all time highs today!

It's all blue skies from here!

Gold stocks seem to be in a good place at the moment with gold nudging US$1000 again...


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## eddyeagle (22 September 2009)

Have been a little dissapointed with the pull back on AND in the last week with gold above $1000- obviously a few profit takers out there. 

Will hopefully find some support around the current levels from the high posted start of June and keep charging upwards!


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## GoodCall (23 November 2009)

Andean announced today that it has discovered another new vein at Cerro Negro.  This was in the San Marcos area.  From today's company announcement of the five new drill holes:

_Today’s release includes the results of four new drillholes
at 100 meter spacing over a strike length of 300 meters and approximately 150 meters
beneath the surface:

SRC-901: 22m of 8.5 g/t gold and 58 g/t silver from 181m
SRC-902: 16m of 10.3 g/t gold and 86 g/t silver from 195m
SRC-903: 7m of 8.1 g/t gold and 77 g/t silver from 189m
SRC-904 1m of 6.8 g/t gold and 62 g/t silver from 189m

A fifth hole, SRC-905, was drilled 100m west of SRC-904 and did not intersect the vein._

Disclosure: I hold a small parcel of AND.AX shares.


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## MOSSuMS (22 December 2009)

*AND - ANDEAN RESOURCES LTD*



> Andean Resources (AND) is exploring and planning to develop its high-grade Cerro Negro gold project in Argentina. Cerro Negro is 100% owned and is located in the Southern Argentinean province of Santa Cruz. JORC resources currently stand at over 2Moz of gold and 22Moz of silver.




I've heard a couple of Analysts (yes, i know!) mention this stock and was wondering if anyone is in, or has traded, this. It's interesting but am looking for more insight and views, especially with regard to the risks where it is operating, given the rahter overblown stories out there.

It's headquartered in Freo, WA.

It's price chart and announcements have generally been good, if volatile, with a rise from a few cents in 06 to $2.50 ish now. It had a bad 08, when it declined to 50c.

I think they are looking for a bankable feasibility study by mid year, but not sure when they target production.

Gold's on a bit of a pullback, so it's just a 'watcher' for me ATM.


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## So_Cynical (22 December 2009)

*Re: AND - ANDEAN RESOURCES LTD*



MOSSuMS said:


> It had a bad 08, when it declined to 50c.




ALL Gold stocks had a bad (late) 08...that turned out to be a great time for the true believers to average down and or enter great Gold stocks for the first time, i must admit that i didn't realise that AND had broken $2...still most of the quality gold stocks have gone up over 300% bottom to top so AND is only a slight stand out there.

Personal ive no idea why anybody would be interested in an entry at these levels, the horse has well and truly bolted...are they any closer to actual production?


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## eddyeagle (22 December 2009)

If gold keeps heading north, I wouldnt be surprised if Andean hit $3. There are several Canadian brokers with price targets in that region. It's also been mentioned before in Fat Prophets reports that it could be a possible takeover target for some of the bigger gold miners... But I agree with So Cynical that the big gains have probably been had as it has had a super 2009! I sold half my holding around $2.50...


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## Scalper23 (6 April 2010)

*Andean Resources*

Any news on Andeans (AND) big rise today


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## So_Cynical (6 April 2010)

*Re: Andean Resources*

I know the search function can be a little un-cooperative at times however a search for Andean found the right thread easily....greed is good, and so is the search function.  

https://www.aussiestockforums.com/forums/showthread.php?t=321


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## Sean K (10 August 2010)

I've been saying this was overvalued since about $2.00. 

Trading at about $750 an ounce EV, this is certainly unsustainable imho. When actual producers are on about $150 an ounce with 30 year lives plus, it makes this position look absolutely illogical. Something will have to give at some point and reality kick in.


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## skyQuake (10 August 2010)

kennas said:


> I've been saying this was overvalued since about $2.00.
> 
> Trading at about $750 an ounce EV, this is certainly unsustainable imho. When actual producers are on about $150 an ounce with 30 year lives plus, it makes this position look absolutely illogical. Something will have to give at some point and reality kick in.




But thats ignoring the Cerro Negro stuff that came out recently, 
285koz per annum at $60/oz (including silver byproducts) = one of the lowest cost mines.
10yr mine lifespan.


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## Sean K (10 August 2010)

skyQuake said:


> But thats ignoring the Cerro Negro stuff that came out recently,
> 285koz per annum at $60/oz (including silver byproducts) = one of the lowest cost mines.
> 10yr mine lifespan.



Yes some amazing results out recently that will increase their overall resource. They could get to 5m ounces as a guestimate, so that doubles their resource which will take their EV to ounces to $350 ish, not taking into account any further dilution due to share issues or debt raising. I think the Capex was $250m or so for the initial operation, so add that to their debt.

The $60/oz is interesting, but we need to check the wording on that. I don't think they're claiming that as Opex, but something else. I think they're being a little deceptive actually. What is the Opex? Surely it's not just 60 bucks? Why not state the estimate? Really, $60 an ounce for an underground operation? huh?


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## jonojpsg (10 August 2010)

skyQuake said:


> But thats ignoring the Cerro Negro stuff that came out recently,
> 285koz per annum at $60/oz (including silver byproducts) = one of the lowest cost mines.
> 10yr mine lifespan.




Yep, if they make $800/oz that's $228m a year which based on current MC of $1.9bn is a PE of around 9.  Low for an established producer (Lihir 30 and Newcrest 25) and with additional ounces as mentioned potentially taking mine life to 20 years (or production rate higher?) then maybe SP is justified...and could yet go higher?

Assuming POG longer term stays high which given monetary positions of US, GB etc could well do, then a margin of $800/oz doesn't seem unreasonable even if costs are around $2-300/oz rather than $60


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## adobee (13 August 2010)

kennas said:


> I've been saying this was overvalued since about $2.00.
> 
> Trading at about $750 an ounce EV, this is certainly unsustainable imho. When actual producers are on about $150 an ounce with 30 year lives plus, it makes this position look absolutely illogical. Something will have to give at some point and reality kick in.




Just broke to new highs beyond $4.00 .. hasnt stopped moving up since $2.00
cant believe I sold this so early reacting to so much over valued sentiment..


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## skyQuake (13 August 2010)

And there i was. Ramping a stock i was playing with on the short side...

EDIT: lol finally got a speeding ticket


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## Sean K (13 August 2010)

adobee said:


> Just broke to new highs beyond $4.00 .. hasnt stopped moving up since $2.00
> cant believe I sold this so early reacting to so much over valued sentiment..



Just goes to show how sentiment rules the market and not facts and figures. This is running on 'potential', even though it's a long way down the track to decent production. 

Market Cap now just over $2b, with just 2.5m oz JORC. Trading at $800 an ounce! HUH?!

RSG MC $500m with 13m JORC, trading at $35 an ounce.

NCM at $128 an ounce
LGL at $174

The market is factoring some MASSIVE upgrades to AND.


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## explod (13 August 2010)

kennas said:


> Just goes to show how sentiment rules the market and not facts and figures. This is running on 'potential', even though it's a long way down the track to decent production.
> 
> Market Cap now just over $2b, with just 2.5m oz JORC. Trading at $800 an ounce! HUH?!
> 
> ...




have to remember that it is (I think) on the US radar screen or maybe Canadian market, which for goldies are more bullish than here in Aus at this stage.  Think this may change though, sentiment is the power of markets.   A good indicator of possibilities for gold stocks here later on in my view.


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## eddyeagle (13 August 2010)

Kicking myself for getting out around $2.50 but that's way it goes sometimes! Still made a decent profit on it...But really didnt think it would hit 4 bucks so soon!


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## Logique (30 August 2010)

explod said:


> Market Cap now just over $2b, with just 2.5m oz JORC. Trading at $800 an ounce! HUH?!



Share your bemusement Explod. Another 8.6% to 4.90 this morning??? Big expectations at these prices.


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## Sean K (31 August 2010)

Logique said:


> Share your bemusement Explod. Another 8.6% to 4.90 this morning??? Big expectations at these prices.



Absolutely unreal expectations. On the surface of it, illogical. They aren't going to upgrade the resource that much in the future are they? I mean it's awesome grades, high quality, but it's at depth too. Market's expecting about at 10m ounce resource I reckon.


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## skyQuake (31 August 2010)

kennas said:


> Absolutely unreal expectations. On the surface of it, illogical. They aren't going to upgrade the resource that much in the future are they? I mean it's awesome grades, high quality, but it's at depth too. Market's expecting about at 10m ounce resource I reckon.




Partially influenced by NCM's upweight on the match today...

Personally I think its worth $3 at most (shorter's bias )

Buy you know what they say about standing in front of a freight train...


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## skc (1 September 2010)

skyQuake said:


> Partially influenced by NCM's upweight on the match today...
> 
> Personally I think its worth $3 at most (shorter's bias )
> 
> Buy you know what they say about standing in front of a freight train...




Sound's perfect for a hedged trade? Short AND long gold or KCN or something like that. Hold until the bubble burst (hopefully before the account blows up).

DOM did something funny last year and reached $5 (from memory) but now at about 1/2 of that....


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## Logique (3 September 2010)

Something going on this morning.

Showing still in Pre-open with indicative 6.20, but last price 6.40 (> up 30%)

Someone bought a lot of shares. No ASX announcement yet, although a speeding ticket on 30 August.


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## skyQuake (3 September 2010)

Talk about freight trains!

Never too late to go long!

0.31 for one EAU bid.


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## JTLP (3 September 2010)

Leaky ship? Or lucky play?

Ahh well other goldies are shooting up at present. On the surface of it AND doesn't look that spectacular? Am I missing something? 2.1M oz au and 20M oz ag? Mmm

I hold AVO and there will be no chance of them getting a t/o bid


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## adobee (3 September 2010)

f*^(&Hk !! i cant believe i havent been holding this.. I am the biggest AND fan and pulled out so long ago due to such hype of the gold value being way over the top...  Well MAJOR CORPORATE ANNOUNCEMENT DUE OUT .. I think this will be a take over or merger. .. I could be wrong ..


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## Mr Z (3 September 2010)

A word about hedging...

Match your beta.

This should be good for any other likely takeover target in the gold space. Take a look gents, its like a game of pacman out there! Place your bets! Now what do you think these guys know about POG? Yet its September and we still have guys talking a short game.... I think I'd rather play chicken with a bullet train FWIW.

Disclosure :- I love and hold AND... have done since 22c. So I am completely and unapologetically bias.


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## explod (3 September 2010)

Yep, was one of the last great punts suggested by David Hazelhurst prior to the demise of the Bulletin magazine for about 30 cents back in 07.

I sold out for $1.80 back in early 08.   Sometimes I believe we look at too many things and so forget the really good ones.  

Well done holders.

Of course many *seasoned investors* are into gold and this interest will grow as currencies further devalue.   Many forget that gold to Australia is the third biggest commodity earner after ion ore and coal.


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## Sean K (3 September 2010)

I am absolutely blown away by the price Eldorado are going to pay here. Could possibly be the most overvalued takeover in gold history. It's like 1300 an ounce or something. Don't have my spreadsheet handy.


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## skyQuake (3 September 2010)

kennas said:


> I am absolutely blown away by the price Eldorado are going to pay here. Could possibly be the most overvalued takeover in gold history. It's like 1300 an ounce or something. Don't have my spreadsheet handy.




0.31 EAU for one, but in talks with another potential suitor.

that 1300 figure ignores the potential of the negro project and probably reserve upgrades

Also keep in mind its extremely low cost production.


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## Sean K (3 September 2010)

skyQuake said:


> 0.31 EAU for one, but in talks with another potential suitor.
> 
> that 1300 figure ignores the potential of the negro project and probably reserve upgrades
> 
> Also keep in mind its extremely low cost production.



No doubt it is an amazing deposit. Very high quality. No one is denying that. And there is great exploration upside, the deposit will most certainly increase in size. But geeesh. As I said earlier, just on a $2b mc I reckon they were factoring in 10m ounces at 10g/t or so. $3.5b? 

Lihir had 46m ounces M&I at nearly 3g/t producing 1.1m oz pa and valued at $10b ish.

Dunno...


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## grace (3 September 2010)

explod said:


> Yep, was one of the last great punts suggested by David Hazelhurst prior to the demise of the Bulletin magazine for about 30 cents back in 07.
> 
> I sold out for $1.80 back in early 08.   Sometimes I believe we look at too many things and so forget the really good ones.
> 
> ...




Ah yes explod, I too bought at about 30cents in 07 and sold it for a quick profit.  This thing had some legs.  Can't believe I ditched it and kept NAV as a gold speculative.  Live and learn I guess.  I even had it on my non-csg takeover list (which is now left with 3 of 8 and I didn't keep one of them.)

Well done to the faithfull!!


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## skyQuake (3 September 2010)

i dont understand the pure fundamentals but it certainly looks like hot property

Got another bid by Goldcorp, slightly higher than the Eldorado resources one!


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## eddyeagle (3 September 2010)

adobee said:


> f*^(&Hk !! i cant believe i havent been holding this.. I am the biggest AND fan and pulled out so long ago due to such hype of the gold value being way over the top...  Well MAJOR CORPORATE ANNOUNCEMENT DUE OUT .. I think this will be a take over or merger. .. I could be wrong ..




Sold out at 2.50 at the start of this year. Very frustrating!


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## skyQuake (4 September 2010)

Closes at $7.32 AUD overnight. Fair prem to the Goldcorp bid.
Several broker upgrades in there too.

Looks like everyone is expecting a bidding war!


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## Sean K (5 September 2010)

skyQuake said:


> Closes at $7.32 AUD overnight. Fair prem to the Goldcorp bid.
> Several broker upgrades in there too.
> 
> Looks like everyone is expecting a bidding war!



480m on issue at $7.32 = $3.5b / 2.5m ounces = $1400 an ounce. 

I think I need to give away my Oz Au to MC ratio for any fundamental comparisons....


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## adobee (6 September 2010)

cant wait to see what happens today on asx.. however this is one of my biggest disappointments.. I cant believe I lost faith from negative sentiment AND really has been a star performer


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## Sean K (7 September 2010)

I wonder who was lucky enough to be privy of the TO so early?

18 August... 

*Andean to answer disclosure delay *
Barry Fitzgerald 
September 7, 2010

ANDEAN Resources will today respond to criticism that disclosure was not at its best before and during last Friday's receipt of two takeover bids for the company from Canadian gold producers.

The company is expected to blame the big time differences between Australia and Canada and the decision by the first bidder - and current underbidder - Vancouver-based Eldorado Gold, to keep Andean in the dark when it launched its $C3.4 billion ($A3.5 billion) scrip offer.

Eldorado's offer was later topped by a $C3.6 billion friendly bid from another Vancouver-based gold company, Goldcorp. However, after the initial offer from Eldorado hit the news wires, a brief time passed before it made it to the ASX's company announcements platform.

As a result, there was some trade in Andean shares at prices well below the imputed value of the scrip offer from Eldorado. Andean went into a trading halt later on Friday, pending the announcement of the friendly scrip-cash offer from Goldcorp.

Andean will also explain why it did not say more in response to an August 30 query from the ASX on its rising share price. Eldorado has since revealed that it had put a proposal to Andean Resources on August 18, which was informally rejected on August 30.

The ASX has queried Andean twice in the past month (August 13 and August 30) on its rising share price. On both occasions Andean pointed to general upwards movements in gold equities without - at least in the August 30 response - mentioning the interest from Eldorado.


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## grace (7 September 2010)

kennas said:


> I wonder who was lucky enough to be privy of the TO so early?
> 
> 18 August...




Yes, don't you just love when this sort of thing happens.

Especially if you sold just before takeover, only to realise that the market was not well informed.  Plenty seemed to know about it though.


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## skyQuake (7 September 2010)

Was out on Bloomberg news 10:17am, and DJ newswires 10:20am (DJ newswire usually comes through iress)

So a few lucky ones got in!


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## Logique (8 September 2010)

Check the ASX anns. 
Eldorado have bailed. Takeover offer withdrawn. They supplied a rationale, which I'll have to re-read to fully understand..


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## Mr Z (8 September 2010)

Sold down below the offer last night, I'm guessing that was hot money on the way out as El Dorado with drew its offer. So far I can't see it in our market depth, all things being equal I guess we should be trading around the $6.80 mark by close. LOL that is unless there is another suitor we don't know about.... yet.

Fun, fun, fun.... 

This is treasury auction week, IF all things go as normal gold should be muted to down along with the HUI. GG was down and took AND with it... but gold she had other ideas. I think that after this week we should see what is what...

Go GG!

I wonder if we will get ASX CDI's for trading GG? or have I missed summin? Do we get the 0.14 GG offer or is it just the CND $6.50?


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## Mr Z (8 September 2010)

Logique said:


> Check the ASX anns.
> Eldorado have bailed. Takeover offer withdrawn. They supplied a rationale, which I'll have to re-read to fully understand..




They say their offer is fully priced and that any bidding war would be a value destroyer for their share holders. They also say that this deal only really suits the majority holder!

Now... is it a gambit or are they playing with a square bat?


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## Mr Z (8 September 2010)

Eldorado fumbles Andean Resources play as Goldcorp snatches the prize



> Eldorado may also have been a little too slow to make its official bid for Andean. "After considerable back and forth with representatives of Andean, which started approximately two years ago, we have arrived at our proposal to Andean," Wright said in a news release Thursday.


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## skyQuake (8 September 2010)

Mr Z said:


> Sold down below the offer last night, I'm guessing that was hot money on the way out as El Dorado with drew its offer. So far I can't see it in our market depth, all things being equal I guess we should be trading around the $6.80 mark by close. LOL that is unless there is another suitor we don't know about.... yet.
> 
> Fun, fun, fun....
> 
> ...




The Cash component 6.50CAD is Max $1 bil, AND mkt cap is $3.6 bil

0.14 Goldcorp is around 6.50 AUD

So ppl factoring in not enough cash to go around probably.


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## Mr Z (8 September 2010)

Yes...

0.14 GG is  around $6:50 AUD ATM... the $6:50 CDN is around $6:80 AUD so we are trading to GG's price.

I am more interested in if we get CDI's or have to deal with US stock.

I have emailed investor relations


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## Mr Z (8 September 2010)

At the moment they are saying it will be US or Canadian stock, no CDI's. I get the sense from my inquiry that it has not been thought about yet! It may happen... but?!


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## Mr Z (8 September 2010)

Eldorado Withdraws Andean Resources Proposal



> Paul Wright, President and Chief Executive Officer stated, “Our proposal has been met with broad support from the minority shareholders of Andean and our own shareholders. Extensive dissatisfaction exists among Andean shareholders as result of the Board of Andean choosing to focus on the agenda of a single large shareholder rather than the interests and desires of its broader shareholder registry.
> 
> From an Andean shareholder perspective there is a keen interest in the creation of a high growth, high quality gold producer with significant market liquidity and superior leverage to the gold price, a dividend paying company that does not rely on base metals to achieve strong cash flows and where exploration success leads directly to superior share price returns.




El Dorado, may have been better in the long run!


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