# CRK - Carrick Gold



## exgeo (9 January 2007)

Market cap. of $88m (95.5m shares * 93c). Carrick currently has a JORC resource of 25.7 Mt @ 2.44 g/t (2.01 MOz Au). At the Lindsay's/Parrot Feathers project in WA, about 40km from Kalgoorlie. Drilling with 2 RC and one DD rig from Jan 07. Drill hit at Lindsay's (outside current resource) 8m @ 29.6 g/t Au from 136m, 4m @ 50.2 g/t Au. A new resource estimate planned for end Feb 07. Planning a feasibilty study by end of Q2 07. CRK purchased a granted Mining Lease in the area in July 06 as a place to site a mill. This should speed up the process of going from explorer to producer.

I maintain an excel list of about 40 gold explorers and rate them in terms of market cap/oz of gold in the ground. CRK is the second cheapest at the moment. There appears to be considerable upside in terms of resources too and they are doing the drilling to prove this.

Other prospects (within 40km of Lindsays):

Richfield- Rock chip samples up to 138 g/t Au. Most are 2-20g/t. Drilling planned Jan 07. An old mine here produced 7800 Oz at 16.5g/t Au.


----------



## cuttlefish (9 January 2007)

> CRK is the second cheapest at the moment.




which of course begs the question ... which is the cheapest?


----------



## Sean K (9 January 2007)

cuttlefish said:
			
		

> which of course begs the question ... which is the cheapest?



BDG now.


----------



## exgeo (9 January 2007)

The cheaper ones I wouldn't consider due to political risk- once bitten, twice shy!


----------



## watsonc (9 January 2007)

Ann states a resource upgrade by 31st Jan 2007, and an independant's view on all resources by end of Feb 2007. Possibly upside yes.


----------



## kransky (9 January 2007)

exgeo said:
			
		

> The cheaper ones I wouldn't consider due to political risk- once bitten, twice shy!




come on... some of us are more foolish.. tell us


----------



## blobbob (9 January 2007)

they are aiming for 5.5 moz within 18 months,


----------



## Sean K (10 January 2007)

Can't see too much on the chart yet. Few support and resistance lines springing up.....On the watchlist. Thanks exgeo.


----------



## exgeo (10 January 2007)

No idea about the technical stuff. It's just one of the cheapest gold explorers working in Australia. It's a pretty thinly-traded stock. I read somewhere they got the brokers backs up by not going via a broker when they listed. So the payback is that none of the brokers follow it. This is good for those willing to do their own research of course.


----------



## dubiousinfo (10 January 2007)

exgeo said:
			
		

> It's a pretty thinly-traded stock. I read somewhere they got the brokers backs up by not going via a broker when they listed. So the payback is that none of the brokers follow it. This is good for those willing to do their own research of course.




Patersons underwrote the 20c opies that recently expired on 31 December.  So I guess at least one broker is following it.


----------



## exgeo (10 January 2007)

The stocks I found that are cheaper on a market cap/oz basis are GCR, FML and KMN. However, this was calculated back to a gold-equivalent resource, these two are not pure gold plays, they are copper-gold deposits, KMN in South America somewhere and FML near Coolgardie in WA. I imagine FML are even cheaper now after today's resource upgrade announcement. GCR is operating in NSW.


----------



## watsonc (11 January 2007)

Some news! Gold in every hole!


----------



## exgeo (11 January 2007)

Drilling at Parrot Feathers increases gold grades and the width of mineralised zone. Drillhole 322 is the northermost on the Parrot Feathers trend. Therefore the mineralisation is still open in this direction. It will be noted that these intersections are much higher grade than the currently reported JORC resource (25.7 Mt @ 2.44 g/t for 2.01 MOz Au), boding well for resource increases in terms of both tonnage and grade in the future. Deep diamond drilling is in preparation with an RC hole drilled as a pre-collar, to test for extensions below the current intersections. Intersections listed below are in the range 60-150m deep (open-pittable depth).

· PFRC 306 2m @ 28.29g/t Au
· PFRC 308 1m @ 16.84g/t Au
· PFRC 310 3m @ 14.71g/t Au
· PFRC 314 1m @ 7.90g/t Au
· PFRC 316 1m @ 7.80g/t Au
· PFRC 322 1m @ 21.59g/t Au


----------



## exgeo (17 January 2007)

The eponymous Frank Carr buys 100,000 shares at 98c to bring his holding to 44.5m shares (46.6% of the company). That's what they call aligning management and shareholder interests!


----------



## kransky (22 January 2007)

Anyone know what is going on with this stock? its going gang busters today.. up 20% today... ??? someone ramping it on another forum?


----------



## Sean K (22 January 2007)

kransky said:
			
		

> Anyone know what is going on with this stock? its going gan busters today.. up 20% today... ??? someone ramping it on another forum?



Exgeo's buying it.


----------



## exgeo (22 January 2007)

Ha, ha, past tense actually, bought at 86c a few weeks back.


----------



## kransky (22 January 2007)

in at 94c right behind you exgeo


----------



## exgeo (5 February 2007)

*Gold Resource Up by Over 30% to 3Moz*

New resource is 31.6M tonnes @ 2.97g/t gold (for 3,000,299oz of gold). Lindsays resource is open in 3 directions, north, south and at depth (eg/ 7m@5.13g/t Au on the northernmost drill line, announced on 10/1/07).


----------



## exgeo (13 February 2007)

*Parrot Feathers*
Announcement today of a diamond drilling programme to check for mineralisation continuity at depth. The holes will be sited outside of the existing resource, so any gold intersected should add to the JORC resources. RC drilling at the same time is finding extensions along strike in other areas.

*Lindsays*
RC drilling is planned to follow up soil sampling anomalies that indicate that the resource extends at least 150m further north. A water-exploration drillhole gets 8m@ 2.48 g/t (from 40-48m) and 4m @ 2.06 g/t from 88 metres (open pittable kind of depth). It is the southernmost drillhole of all recent drill programmes, indicating the resource is open in this direction.


----------



## exgeo (19 February 2007)

CRK has announced a scrip bid for Shannon SHA. On the plus side, SHA has some good hits such as these, from the Dec 06 qtly:

GOLD: (maximum depth 72 metres)
· SRRC 33 44m @ 2.24g/t Au inc. 5 metres @ 8.50g/t Au
· SRRC 34 31m @ 1.68g/t Au and 7 metres @ 2.78g/t Au
· SRRC 40 3m ..@ 24.7g/t Au and 6 metres @ 1.85g/t Au

and some reasonably long, but not fantastically high-grade nickel hits, such as:
· SNP 19 19m @ 0.63% Ni
· SNP 17 7m ..@ 0.81% Ni
· SNP 16 6m ..@ 0.73% Ni

On the minus side, Frank Carr is the largest shareholder in SHA (40%) so this might just be a way for him to cash out. BUT, he's also the largest shareholder in CRK with 46% of the stock. So it wouldn't make a lot of sense for him to do anything that's bad for CRK. The other reasons given for the bid seem reasonble to me, such as saving in admin costs, listing fees, ability to manage combined drill programmes and ultimately develop the resources using a centrally-located processing facility for both resources (they are all located in the same locality).


----------



## exgeo (1 May 2007)

*Massive sulphides encountered in first RC drillhole*

Massive sulphides encountered in first percussion hole located at the Grey Dam Project at Kurnalpi.

*Best nickel results include:*
1m @ 1.74% Nickel and 1.12% Copper from 135 -136m
1m @ 0.50% Nickel and 0.68% Copper from 130 - 131m

*Best gold results include:*
2m @ 0.70g/t Gold from 120 - 122m
1m @ 1.5g/t Gold from 127 - 128m


----------



## Firdy (11 March 2008)

Does this company plan to ever produce, or build a plant?  Like others, I subscribe to the Market Cap:JORC Resource, and Market Cap/Proven potential  (in $/oz).

Carrick's Market Cap is 180 million, and resource is 3 million oz, meaning, at the current share price of $ 1.47, I'd be paying $ 60 for an ounce of resource.

This seems to be worthy of further investigation.

PS - Is anyone still following this forum?


----------



## Firdy (11 March 2008)

THis seems to be a good company, and they recently raised 18 million in cash, but I also noticed that "Carrick Gold" was named in a US anti trust case.  Different company different country same name?   

I wonder why no posts on this for a year?


----------



## exgeo (14 May 2009)

> *14 December 2007
> Share Placement Raises $18m.* We wish to advise that the Company has effected a placement of 10,600,000 shares at $1.70 per share to sophisticated and professional investors, clients of BBY Limited.




Update (from exgeo). Company is buying back shares (at prices under a dollar; current sp 60c). Perhaps the company is more sophisticated than the sophisticated investors?

I'm a bit mystified as to the current share price fall given that most junior gold stocks have been holding up quite well in the recent pull-back (eg/NGF, IAU, IGR, MLI, PRU, WGR that I also hold). Page 19 of today's company update from IAU shows that CRK is one of the lowest cap/oz stocks around. Perhaps the market was disappointed with the recent resource upgrade from 4.0Moz to 4.1Moz? Can't think of anything else, as they still have enough cash to keep the drills turning for several years. Disclosure: I sold around 130c and am buying back in now.


----------



## tehnoob (8 July 2009)

Hi all, I'm quite new to this so please don't laugh at me! 

CRK released some drilling results yesterday with the SP falling slightly since.

What makes for a 'good' (economical) intersection? At Atlas they had, amongst others, a hit of 4m@5.3g/t and over at Gambia they came across 3m@15.2g/t.

Does the depth of the intersection play THAT much of a part in determining economic viability?

Also, what would a reasonable cutoff be for the grade? I notice that gold explorers often use 1g/t or 0.5g/t but is that really a sufficient grade?

Cheers


----------



## Sean K (8 July 2009)

tehnoob said:


> Hi all, I'm quite new to this so please don't laugh at me!
> 
> CRK released some drilling results yesterday with the SP falling slightly since.
> 
> ...



Depends on the depth, country, and type of deposit etc etc. A geo may be able to answer in some detail. Lots to consider.

From surface open pit grades 2-3% in W Africa could be worth the same as an underground mine high grade in Australia. 

As an example, PRU have 7m oz at 2% ish open pittable in W Africa, and AND have 2m ish at 15% underground in Argentina and the AND's market cap is gimormous compared to PRU. There's a reason for it. Higher grade, and lower country risk. Maybe management are better rampers too.

So, try and compare apples with apples for your comparison.

Speaking of CRK ann out this am on some good drill results by the looks:


*Carrick Gold Limited www.carrickgold.com intersections at Brilliant*

Exciting results from 9 RC holes of the latest drill programme are set to increase the resource inventory at Carrick Gold’s Brilliant Prospect Figure 1 & 2. The drilling was designed to extend the gold mineralisation of the eastern mineralised structure further to the south. Preliminary work has shown that a total of 200 metres of strike length has been added to the eastern mineralised structure. More drilling is ear-marked to test the down dip and strike extension further to the south. Results from the recent drilling include those in



More info, thoughts anyone?


----------



## tehnoob (8 July 2009)

Thanks Kennas. 

I'm guessing that if there is little SP movement on yesterday's drilling results of 3m@14.2g/t and they close up 11% today on announcement of 50m@5.75g/t that the latter is a far better strike. It's only 1m below the surface too.


----------



## TashiGold (21 July 2009)

In a few days time we may know what the future holds.  The quarterly report is coming out possibly next Monday.
With a bit of luck we will know when mining will start plus there should be another upgrade.
This is one of the most underrated stocks on the board and with potential for a very significant share price rise in my opinion.
Let's see on Monday


----------



## exgeo (6 August 2009)

One can only assume that the recent sp action of CRK is a case of the "market staying irrational longer than the punter can remain solvent." Gold resource is expanding (recently extended one of their resources 250m with drilling, no resource calculation on the extended part yet) and already has a large inventory. Perhaps it's because they seem to have no firm plans for getting into production? Maybe Frank Carr has recently read "When Money Dies"** and wants to hoard some gold ahead of time? What better way to hoard it than keep it in the ground? No storage costs, no danger of someone stealing it.



** A scary but perhaps prophetic read? Replace "War Reparations" with "Unfunded Medicare Liabilites, TARP" etc., and "German Industrialists" with "Wall Street Banks" and it could be a book about current events.


----------



## exgeo (28 September 2009)

From Apex Minerals 25th September 2009 presentation. I'm glad they are finally considering development. In retrospect, employing a full time resource geologist 6 months ago was probably the first step on the road to development.


----------



## tehnoob (21 November 2009)

Is there something I'm missing? CRK finished the day at $1.005, up 12.5c or 14% for the day. No news, gold price fairly steady.


----------



## ectoplasm (7 January 2010)

Hi tehnoob,

That was a nice bounce on the 21st Nov. & I note from another forum that CRK was mentioned in dispatches and the chart does look good! 4 Price Sensitive Company announcements in the last month (or two) & CRK may just be worth watching ~ particularly if gold keeps bouncing

Daily chart:


----------



## exgeo (13 January 2010)

Note from Warwick Grigor to BGF Equities clients this morning. Now it becomes clear why BGF initiated coverage late last year.







> BGF is proceeding with a placement of shares in Carrick Gold (CRK) at a price of $1.00, aiming to place a minimum of $9m, but with the ability to increase this to $14m. The shares are in a trading halt now and should resume trading on Friday morning, this week.
> 
> I have attached some research written prior to Xmas, which will give you a good flavour. The critical thing here is that the Company has been flying under everyone’s radar screen. It represents a rare opportunity that we are keen to pounce on.
> 
> In the few hours since we have started talking to institutions we are already heavily bid for stock, but I wanted to make sure the Gold Card clients get a chance to participate.


----------



## ectoplasm (13 January 2010)

exgeo said:


> Note from Warwick Grigor to BGF Equities clients this morning. Now it becomes clear why BGF initiated coverage late last year.




Hi exgeo

Nice price and volume action today - only wish I was on it...

Daily Chart: Gapped up 14%!


----------



## exgeo (8 June 2010)

Recent sp decline explained (perhaps). Frank Carr, director and founder died on June 6th. His last trade in CRK was on May 18th at 64c to bring his shareholding to 52,200,000 shares, or 37.56% of the company. No indications about what will happen to this holding yet. Might be a good buying opp. for those contrarians; everyone else just stand aside for now perhaps! CRK were already very cheap on a cap/oz basis (at 60c, last time I checked) and they continue to drill. Also Ian Burston was appointed to the board on May 12th (he is a well-known figure in the Aussie gold scene). He may help to drive things forward with this company.


----------



## exgeo (7 September 2010)

Substantial shareholder notice lodged yesterday by Frank Carr's widow, confirming the transfer of his shareholding to her name (deceased estate). Strangely this seems to have given some comfort to the market - CRK is up from 35c to 45c in a day. Seems to me that this still doesn't tell us whether she will be a long-term holder or not though, which is presumably what the market was worried about before.


----------



## godhaspoken (12 September 2010)

been watching carrcik for a while now... had a nibble at 43c a couple of months ago but picked up a truck load at 32 and 34. seems director freidman picked up a few at this level also.

to be quite honest mate i believe there is no concern of Mrs Carr selling her stock on market, as you can see from the recent appointments these new guys are not mining/exploration buffs...watch this space.

the recent price action above 50c resistance/support under decent volume is encouraging. it would be nice to see them drilling the **** out of tenements, maximise the resource and sit and wait- and hopefully not be ignored!

you've been watching this space for longer than I, anyhting to add?


----------



## godhaspoken (13 September 2010)

perhaps any comments RE: the shares traded by JPM- 3.6M shares "transfered out" yet no new substantial shareholder nottice submitted... if not traded on market where/who did they go to? recent substantial shareholder nottice in quarterly shows they are still registered as a holder of these securities. with ~10% not 8%.


----------



## exgeo (13 September 2010)

Nothing new to add really, other than it seems that the new board is more geared towards getting the thing in production. I also backed up the truck; unfortunately a little before the bottom, at 40c, but I'm not complaining now though. CRK is now my biggest single shareholding.


----------



## godhaspoken (15 September 2010)

someone is more confident than I... order for 500k shares @52c


----------



## exgeo (26 November 2010)

Interesting... becoming substantial shareholder notice from Cross-strait Development Fund, purchasing 26.7m shares. 

Perhaps not coincidentally, last week was a reduction in substantial holding notice from Elaine Carr (who inherited Frank Carr's 40-odd percent of the company when he died recently). One of the off-market transactions she reports is for 26.7m shares at 53.5c.

Maybe this will remove some of the market overhang?


----------



## WRONG'UN (26 November 2010)

In the absence of today's notice, I had been wondering who had bought the shares.

Mrs (actually Susan) Carr's reasons for selling part of her stake in the company are her own business, of course, but it must be very positive for the company for a there to be a willing buyer for such a large number of shares.
Mrs Carr still retains 13.46% of the company.

I agree that the market overhang risk is now significantly reduced - let's hope the sp can consolidate above 60c, and then go on. There is an interesting table in the recent AGM presentation, comparing CRK's market cap per resource ounce with those of its peers - it looks way undervalued on that measure.


----------



## greengoat (9 March 2011)

engourageing drilling results

http://www.asx.com.au/asxpdf/20110309/pdf/41xbdw15n3wvtr.pdf


----------



## springhill (27 July 2012)

MC - $36m
SP - 26c
Shares - 140m
Options - 7.5m
Cash - $3m

*Kurnalpi – Ready for Mining*
•Current Resource: 6.17Mt @ 1.2 g/t for 228,800oz Au
–JORC Reserve for Brilliant Orebody of 1.09Mt @ 1.7 g/t for 59,000oz Au
•New mineralised structure discovered at Brilliant, adjacent to first pit
•More drilling to define extent of new structure

*Lindsay’s – Second Open Pit*
•Current Resource: 5.14Mt @ 2.0 g/t for 323,600oz Au
–Initial Probable Reserve of 664,000t @ 2.2 g/t for 42,995oz Au
•To commence open pit production after Kurnalpi
•Further success along strike and at depth

*Kalpini – Resource Upgrade*
•Resource increased 29% to 3.41Mt @1.9 g/t for 208,960oz Au
•Resource will be optimised, followed by selective infill drilling
•Future work to deliver initial Mining Reserve

*Mt Jewell-Substantial New Resource*
•Current Resource of 3.8 Mt @ 1.53 g/t for 185,600 oz Au
•Drill program to expand Resource
•Hughes and Tregurtha deposits could be much larger than currently defined
•Resource upgrade expected in current quarter
•Mining Lease Application
•Mt Jewell and Kalpini 3rd and 4th mines




*Reasons to Invest*
•Managed for commercial success
•Early cashflow from oxide pits
•1 million ounce Resource base and growing (500,000oz pa*)
•Expect to triple Reserves by Dec 2012
•Large exploration area in known gold province, full infrastructure
•No debt


----------

