# XAM - Xanadu Mines



## Assasin (13 December 2010)

Havn't seen a thread on Xanadu (XAM)
For all those Coal, Copper and Gold enthusiasts.
Prospectus looks great, but don't they all. Logistics, fundamentals and capital look secured and floating 21st December.
Placements were sold out very early.
www.xanudumines.com
Anyone else on board?


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## prawn_86 (20 January 2011)

Anyone got any opinions on this? A colleague asked me to look into them. Seem like a standard overseas explorer to me at this stage


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## mr. jeff (8 April 2011)

prawn_86 said:


> Anyone got any opinions on this? A colleague asked me to look into them. Seem like a standard overseas explorer to me at this stage




they have been thrown in with AKM and HUN as mongol coals, XAM looking for copper as well. XAM are just starting and seem to be drilling prospective areas, trying to truck rather than anything massive by rail, but seem to be making fairly average intersections so far. They are drilling from 30th March for 2 months and also doing some aeromagnetics I think. Some further short term assays may be released next week. Just had a brief look this afternoon.... 
They offer leverage against the Mongolia excitement....with the ongoing drilling they may make a decent run up in anticipation of news over the next month, but I have no further info at this time...

I think AKM and HUN are better (lower risk, but lower potential perhaps?) prospects at this stage, and don't forget that GUF just jumped on the Mongol bandwagon....they offer some protection through sovereign diversity.


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## springhill (26 July 2012)

MC - $33m
SP - 22c
Shares - 147m
Options -26m
Cash - $15.5m

Directors 20%
Straits Resources 12.4%
Noble Energy 9.0%
Eagle Securities 7.2%

*Nuurstei Coking Coal Project*
•Khuvsgul Province in Northern Mongolia - 540km NW of Ulaanbaatar
•Proximal to proposed new railway by Aspire to Erdenet and linking to Trans Mongolian railway Nuurstei Coking Coal 
Project is a highly prospective coking coal project
•Middle to Upper Triassic coal bearing sedimentary package
•Numerous moderately dipping thick coal seams
•3,000m reconnaissance drill program completed
•Initial Laboratory results confirm high quality coking coal

*Khavtsgait Coal Project*
•Khuvsgul Province in Northern Mongolia - 540km NW of Ulaanbaatar
•Proximal to proposed rail (230km west from the nearest railroad spur at Erdenet) 
Khavtsgait Coal Project is a highly prospective coking coal project
•Mesozoic coal bearing sedimentary package
•Numerous moderately dipping thick coal seams
•Continued exploration in 2012, complements the Nurstei project

*Javkhlant Coal Project*
•Gobi-Altai Province in Southern Mongolia - 350km southwest from Altai
•Well located approximately 22 kilometres from the Burgastai border crossing point into China 
Javkhlant Coal Project is a highly prospective coal project
•The large (1,005km ²) exploration license lies along the south Gobi Basin which is known to host premium coking coal deposits of Permian and Carboniferous age 
2012 Exploration Program
•Regional mapping

*Khus Coal Project*
•Close to both rail and border with China
•Dornogobi Province in Southern Mongolia – 120 kilometres southwest from Sainshand
•Located approximately 140 kilometres from the Khangi-Mandula border port into China 
Khus Coal Project is a highly prospective coking coal project
•The large (161km ²) exploration license lies within the eastern end of the South Gobi Basin which is known to host premium coking coal deposits of Permian age 
2012 Exploration Program
•Reconnaissance drilling commenced July 2012

*Sharchuluut Uul Porphyry Cu-Au Project*
•Bulgan Province of Northern Mongolia, approximately 230km NW of Ulaanbaatar
•Approximately 40 km NW of the world-class Erdenet Cu-Mo deposit
•Well developed infrastructure including rail access to China and Russia 
Exploration area comprises 1 exploration licence
• Totalling 488km ² and remains relatively unexplored
•Five porphyry-related prospects within a 15-kilometre-long, northwest oriented corridor of porphyry-related alteration and mineralisation at the north-western extremity of the Erdenet Trend
2012 Exploration Program
•Exploration drilling commenced in April 2012
•Alteration and field relationships suggest a high level of formation above a deeper porphyry
•A strong possibility of discovering additional mineralised porphyry gold-copper targets within the Sharchuluut Uul district, and along the defined structural corridor

*Oyut Ulaan Cu-Au Project*
• Xanadu Mines has executed a terms sheet with Temujin Mining Corp (a private Canadian company) to acquire Oyut Ulaan Cu- Au project via a purchase of Temujin’s wholly owned subsidiary Vantage LLC.
• Once documentation is finalized and a mining license issued, Xanadu will be entitled to a 25% Project interest
• Xanadu’s purchase of the remaining 75% will be subject to approval by a General Meeting of its Shareholders
Mineral potential
• Potential to host a large buried porphyry copper deposit or multiple skarn targets
• Numerous walk up drill targets comprise 18 mineralized prospects

*Amgalant & Argalant Uul Cu-Au Projects*
•Omnogovi Province of Southern Mongolia, approximately 230km SE of Ulaanbaatar
•Approximately 110 kilometres northeast of the world-class Oyu Tolgoi Cu-Au Project
•Proximal to the large Tsagaan Suvarga Cu-Mo deposit under development
•Exploration licences are large (Amgalant –109 km ² and Argalant Uul –895 km ²)
•Relatively under explored and occur in a shallowly eroded porphyry-type environment

*Solenker Epithermal Gold District*
•Dornogovi Province of SE Mongolia, approximately 680km SSE of Ulaanbaatar & 30km from Chinese border
•Xanadu holds 80% of the joint venture (Altan Xanadu) covering Elgen-Zost and Suug
•All significant regional Landsat data & geochemical anomalies held by Xanadu
•Altan Xanadu JV consists of 4 exploration licenses covering approximately 401km ²


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## pixel (22 August 2014)

After a long time in the doldrums, Xanadu looks like it's staging a come-back.




Did anyone notice the breakout in July and get set early?
Pity no-one alerted us. But it may not be too late yet. I'm usually scanning the Dailies with a $Turnover filter; that's why I missed it. Hope it's not too late.


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## Porper (22 August 2014)

pixel said:


> After a long time in the doldrums, Xanadu looks like it's staging a come-back.
> 
> View attachment 59144
> 
> ...




A retest of the trading range around $0.105 would be good.


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## pixel (23 August 2014)

Porper said:


> A retest of the trading range around $0.105 would be good.




Absolutely, Porper;

As it failed to break 16.5 today, I took my money (and some profit) off the table and shall reassess next week.


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## piggybank (15 April 2016)

Highest close since November 2012.

Please find at the link below the Company’s latest corporate presentation at last week's annual Mines & Money conference in Hong Kong.

http://www.stocknessmonster.com/news-item?S=XAM&E=ASX&N=915945

​
Maybe worth keeping an eye on it...


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## barney (22 March 2021)

Not much written on this little battler.

I suspect it won't be a "battler" for much longer.

Currently in a Trading  Pause after rising +30% today.

Recent excellent Drill Results. Safe to say there will be more of those on the way.

Could be a "please explain" letter today, but I expect further results will see this take off further.  (DNH)


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## qldfrog (22 March 2021)

My system got it in out a lot recently for what it is worth..


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## barney (22 March 2021)

qldfrog said:


> My system got it in out a lot recently for what it is worth..




Excellent.

If you were in today its your shout Frog  

ps You need to post a few of your signals for us


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## barney (22 March 2021)

ps. Interestingly, the Pause in Trading was at 1.29pm.

It is now 2.50pm with no further update.

It must be a lengthy please explain letter

It doesn't take that long to say "We know nothing"


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## qldfrog (22 March 2021)

barney said:


> Excellent.
> 
> If you were in today its your shout Frog
> 
> ps You need to post a few of your signals for us



Let me check:
One packet only but at least, i still had one


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## Sean K (24 March 2021)

Obviously some loose lips out Xanadu way.


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## qldfrog (29 March 2021)

Xam was a buy on open today for me, which i obviously missed🙁 as it jumped up


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## qldfrog (29 March 2021)

qldfrog said:


> Xam was a buy on open today for me, which i obviously missed🙁 as it jumped up



A nice interesting experience today:
I give you the context:
 one system selling XAM after a great win:
so sell before open at 0.071 or above;
another system entering and so buying before open at up to 0.075
These system using the same trader but different entities so different user name/account, orders entered yesterday
What do you think did happen?, or as an hint: how do you think I go screwed?


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## barney (29 March 2021)

qldfrog said:


> A nice interesting experience today:
> I give you the context:
> one system selling XAM after a great win:
> so sell before open at 0.071 or above;
> ...




Open was .073 QF  so in theory you should have bought and sold simultaneously at the same price?

However, given your comment, I assume you likely got a full fill on the Sell and a partial fill on the Buy (Order too high in the queue??)

So full brokerage and not much of today's rise to show for it?


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## qldfrog (29 March 2021)

barney said:


> Open was .073 QF  so in theory you should have bought and sold simultaneously at the same price?
> 
> However, given your comment, I assume you likely got a full fill on the Sell and a partial fill on the Buy (Order too high in the queue??)
> 
> So full brokerage and not much of today's rise to show for it?



Even worse, full sell at 0.073, not a single buy at 0.075.
What should have been a swap was just a costly under sell.
I can not see how this could happen if the auction system was working properly.i bought my sold 0.073  packet in the 0.05xx range so will not complain too much yet something is wrong and i might next time play with a virtual paper transfer as my family own either systems.


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## barney (29 March 2021)

qldfrog said:


> I can not see how this could happen if the auction system was working properly.




Thought it might have been the CHi-X factor, but not so  

Technically your Order on Open should have been filled given it was almost 4 minutes before the 075 level was taken out

Only explanation would be a large number of  *higher priced* Market Orders were hitting the queue instantly after the Open and you simply kept getting pushed to the back of the queue. Pretty annoying 

*Open trades from 073-075:*


10:12:20 AM​0.075​37866​2839.95​ASX10:12:14 AM​0.075​362133​27159.98​ASX10:12:14 AM​0.075​137867​10340.03​ASX10:11:53 AM​0.074​52744​3903.056​ASX10:11:06 AM​0.074​4418​326.932​ASX10:11:06 AM​0.074​9092​672.808​CXA10:08:52 AM​0.074​25520​1888.48​ASX10:08:47 AM​0.073​218493​15949.99​ASX10:08:47 AM​0.073​21244​1550.812​ASX10:08:47 AM​0.073​121222​8849.206​ASX10:08:47 AM​0.073​23778​1735.794​ASX10:08:47 AM​0.073​97222​7097.206​ASX10:08:47 AM​0.073​95000​6935​ASX10:08:47 AM​0.073​34000​2482​ASX


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## qldfrog (30 March 2021)

Karma helped, as yesterday open  buy was for my weekly system, i reordered today at 0.073..the price i sold yesterday, 
And just got filled.so back to where it should be.now the price can start crashing 😊


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## Sean K (6 May 2021)

I'm not sure why this has recently tanked. The placement? Dunno. 

Seems pretty cheap for the Cu and Au they already have shored up. Obvious potential for that to be significantly upgraded with the recent hits they've had. 

I like the country manager's name too. Ganbayar Lkhagvasuren


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## Sean K (28 May 2021)

Not sure why, but I seem to be following a bunch of monster porphyry wannabies at the moment. These guys think they're going to be the next Oyu Tolgoi I think. Looks like there's going to be a lot of copper and gold in there.


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## greggles (28 May 2021)

Mongolia? Any political risk there or is it nice and stable? Grades are a little low and the mineralisation is at depth but it's still early days.


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## Sean K (28 May 2021)

greggles said:


> Mongolia? Any political risk there or is it nice and stable? Grades are a little low and the mineralisation is at depth but it's still early days.




Rio built Oyu Tolgoi without any dramas that I can remember. It's just down the road. These porphyrys are all low grade but it's the overall tonnage and ease of mining that makes them valuable. This is about the same grades as Oyu and Cadia.


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## greggles (28 May 2021)

kennas said:


> Rio built Oyu Tolgoi without any dramas that I can remember. It's just down the road. These porphyrys are all low grade but it's the overall tonnage and ease of mining that makes them valuable. This is about the same grades as Oyu and Cadia.




The market must have been expecting better results. XAM has opened down 8.33% and it looks like it's going lower.


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## Sean K (28 May 2021)

greggles said:


> The market must have been expecting better results. XAM has opened down 8.33% and it looks like it's going lower.




Maybe cause that hole missed the bornite target. I thought it had found support previously at 0.056 too. Gapped well down from there. There's two other holes going into that target so not sure why the bail out.


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## Sean K (28 May 2021)

Down 16+% LOL. At 5c their MC is under $80m.


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## greggles (28 May 2021)

kennas said:


> Down 16+% LOL. At 5c their MC is under $80m.




5c looks like support too. Will be interesting to see if it can stay above that level. It could get ugly if it doesn't.


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## Sean K (28 May 2021)

greggles said:


> 5c looks like support too. Will be interesting to see if it can stay above that level. It could get ugly if it doesn't.




Agree, .05 should be solid, then 0.04. Looking undervalued still on the basic numbers. JORC 2.6Mt CuEq = $23b in the ground. If it goes back to .04 I might be tempted.


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## Sean K (3 June 2021)

greggles said:


> 5c looks like support too. Will be interesting to see if it can stay above that level. It could get ugly if it doesn't.




Caught the knife for a short term trade. Looked to be overdone to me. Not sure of longer term, the market doesn't seem to be interested.

Fingers crossed H567 and 568 hit the gold rich bornite zone they were aiming for with H565 and 571 expands it.


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## Sean K (17 June 2021)

kennas said:


> Fingers crossed H567 and 568 hit the gold rich bornite zone they were aiming for with H565 and 571 expands it.




Well, they missed hitting the gold rich zone AGAIN and have been caned. Although, it's a sea of red out there on my watch list. 

Good news is the expansion of the other two lodes that will bode well for resource expansion. 

Still think this has more upside and potential. They just need to hit that bloody bornite zone to better define the resource. Or, maybe it's just not there...


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## greggles (17 June 2021)

kennas said:


> Still think this has more upside and potential. They just need to hit that bloody bornite zone to better define the resource. Or, maybe it's just not there...




Just wait and watch for it to find bottom. It will eventually. Then you can time your entry and hopefully trade it profitably. Agree it has potential, it's just had some bad luck recently.


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## Sean K (17 June 2021)

greggles said:


> Just wait and watch for it to find bottom. It will eventually. Then you can time your entry and hopefully trade it profitably. Agree it has potential, it's just had some bad luck recently.




I've already bought a few. I know there's a few factors at play with a resource getting to a mine but 1.9Mt Cu and 4.3Moz Au (and growing) with a MC of $45m. Huh?


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## qldfrog (18 June 2021)

kennas said:


> I've already bought a few. I know there's a few factors at play with a resource getting to a mine but 1.9Mt Cu and 4.3Moz Au (and growing) with a MC of $45m. Huh?



well resources got slammed in the last week, I bleed heavily; 
XAM has been a player in my system for a while but was not in lately;
One worthwhile consideration is that it is located in Mongolia;
which for the initiated is as independent from China as the northern territory is from Australia; it is not; worse, BJ can afford doing things there that they would not even dare to do within proper China
And so at risk of spoliation and BJ power play.
west pay exploration costs and development, then if successful, assets get seized and a "new" collaboration contract drafted..thanks suckers..did not Rio Tinto got  done that way only recently?
Anyway, I am sure I will see XAM appear again in my scans at the next resources rebound


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## Sean K (18 June 2021)

qldfrog said:


> well resources got slammed in the last week, I bleed heavily;
> XAM has been a player in my system for a while but was not in lately;
> One worthwhile consideration is that it is located in Mongolia;
> which for the initiated is as independent from China as the northern territory is from Australia; it is not; worse, BJ can afford doing things there that they would not even dare to do within proper China
> ...




Rio have been in Mongolia for years and own Oyu Tolgoi. Never heard of any issues there.


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## qldfrog (18 June 2021)

kennas said:


> Rio have been in Mongolia for years and own Oyu Tolgoi. Never heard of any issues there.
> 
> View attachment 126257



Serious?


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## qldfrog (18 June 2021)

https://www.reuters.com/article/us-rio-tinto-lawsuit-turquoisehill-idUSKBN2BH1ZE


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## qldfrog (18 June 2021)

Mongolia threatens to terminate Rio Tinto's Oyu Tolgoi expansion
					

Doubts are growing over Rio's most important growth project, with the Mongolian government warning that returns are not attractive enough for it to proceed.




					www.afr.com


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## qldfrog (18 June 2021)

qldfrog said:


> Mongolia threatens to terminate Rio Tinto's Oyu Tolgoi expansion
> 
> 
> Doubts are growing over Rio's most important growth project, with the Mongolian government warning that returns are not attractive enough for it to proceed.
> ...



And thats just in the last 3 months, there was endless pressure before
I understand system traders do not care about actual assets, i know and apply that but investors should be aware when mines are in the middle of china -west trade wars or in IS territory.
The very worst is that it probably does not even matter for the SP😁


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## Sean K (18 June 2021)

qldfrog said:


> And thats just in the last 3 months, there was endless pressure before
> I understand system traders do not care about actual assets, i know and apply that but investors should be aware when mines are in the middle of china -west trade wars or in IS territory.
> The very worst is that it probably does not even matter for the SP😁




Cripes, I hadn't seen that as I haven't been watching for years. I just assumed as the project was going ahead with billions been spent on it there were no problems. Better have a deeper look.


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## Beaches (18 June 2021)

qldfrog said:


> And thats just in the last 3 months, there was endless pressure before
> I understand system traders do not care about actual assets, i know and apply that but investors should be aware when mines are in the middle of china -west trade wars or in IS territory.
> The very worst is that it probably does not even matter for the SP😁




Seems more like your everyday garden variety commercial dispute (which is not uncommon for RIO wherever it goes) rather than a sovereign or political issue.
.


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## Sean K (18 June 2021)

Beaches said:


> Seems more like your everyday garden variety commercial dispute (which is not uncommon for RIO wherever it goes) rather than a sovereign or political issue.
> .




Seems like they've sorted this out.









						Rio Tinto, Mongolia agree to replace Oyu Tolgoi expansion plan
					

News of the agreement comes as the Australian Taxation Office has hit the miner with a new $317 million bill.




					www.mining.com
				




Strange none of this is mentioned on Rio's web page.


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## greggles (18 June 2021)

kennas said:


> Strange none of this is mentioned on Rio's web page.




Good news stories get on the web page, bad news stories get buried and forgotten, even if they get worked out in the end.


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## qldfrog (18 June 2021)

just have to say that I remember reading about serious threat of expulsion, etc well well before this year, when I was still active in the mining world aka 8y ago or so
As far as I can remember, RIO and Mongolia have been an ongoing headache..I let you see what you can find on the web, but when I see mongolia and australian investment together, it brings flashing red lights
DYOR


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## Sean K (1 July 2021)

I've picked this in the monthly comp mainly due to the chart. Just looks way oversold based on drilling results that didn't hit the intended mark. I thought .04 would have been a bottom and I grabbed some at that point, but it's managed to make it closer to the .03 support mark. eeeek. Seems to have held up, for now. 

I'm speculating on hole 571 hitting some nice rocks. Assays should be out this month, I hope.


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## Sean K (5 July 2021)

Something strange happened on Friday, ref volume. I'm out till I see something more positive on the chart.


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## Sean K (13 July 2021)

One out of four holes look good. The rest are very average and at depth. They missed the high grade bornite zone at Stockwork Hill with hole 571, again! Perhaps there's just no more high grade there folks? Or, you can't control your drills.

Going to need more than 1Bt with these grades and depths, imo.


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## greggles (13 July 2021)

Average grades, too deep. Add in the Mongolia factor and I feel there are better opportunities elsewhere. XAM could come good in the end, but I suspect that in the absence of any good news in the short term it will probably come under selling pressure in the coming weeks and might test previous lows at 3c.


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## Sean K (13 July 2021)

greggles said:


> Average grades, too deep. Add in the Mongolia factor and I feel there are better opportunities elsewhere. XAM could come good in the end, but I suspect that in the absence of any good news in the short term it will probably come under selling pressure in the coming weeks and might test previous lows at 3c.




I think at these grades and depths they need to find something else between the current envelope and confirm the high grade area under Stockwork Hill, that they've been trying to do for months. That's been a debacle.

One assay outstanding with three currently being drilled. Hole 574 going to 1800m! 

I'm keeping it on the radar because if they can fill in some of the blanks with the exploration program there is going to be a lot of copper in there. Only a couple of major discoveries the past few years and the old mines are getting older. And these big porphyrs take years to develop. Copper is going up, up, up, I think. 

Probably need another high grade zone closer to surface.


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## greggles (13 July 2021)

Worth keeping an eye on for sure, but anyone looking for an entry point should probably hang on. After climbing to 3.9c earlier today, XAM is now back at 3.7c and will likely finish at 3.6c based on today's trading.

I agree with you about copper generally, but XAM are going to need to deliver some good assay results to get the share price heading north again.


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## Sean K (3 August 2021)

How much lower can this thing go, with JORC 1.9Mt Cu and 4.3M oz au expanding exploration resource with a $42.6m MC? 

I thought .04 might have been a good time to get my fingers dirty, but surely it's time for another pick.  😲 

Someone tell me, kennas DON'T DO IT!!!  ☠️


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## greggles (3 August 2021)

kennas said:


> How much lower can this thing go, with JORC 1.9Mt Cu and 4.3M oz au expanding exploration resource with a $42.6m MC?




The question is, why are the sellers selling? I haven't been keeping up with the announcements. There must be a reason for it.


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## peter2 (3 August 2021)

Mongolia - where investment capital goes to die. 
Just ask Rio TInto about their Mongolian investment.


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## Sean K (3 August 2021)

greggles said:


> The question is, why are the sellers selling? I haven't been keeping up with the announcements. There must be a reason for it.




I've been reading them all back for some time. The only thing they're really failing on is a high grade zone they want to establish with something like >100Mt@0.8% CuEq. They keep missing it, or it doesn't exist.

Other exploration has been prospective.



peter2 said:


> Mongolia - where investment capital goes to die.
> Just ask Rio TInto about their Mongolian investment.




Yeah, Oyu Tolgibear, or whatever, has been a pain for them, but it got built and the underground seems to be going ahead. They've spent billions on it.

I might put an order in at 0.0001 and wait for it to be picked up.


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## Beaches (3 August 2021)

peter2 said:


> Just ask Rio TInto about their Mongolian investment.





Rio Tinto have arguments everywhere they go

@kennas  Go ahead .. you know you want to.


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## Sean K (10 August 2021)

Beaches said:


> Go ahead .. you know you want to.




This is getting so ugly I almost just can't help myself.  😲 😬 ☠️


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## Beaches (10 August 2021)

Very thinly traded currently, only $19,473 traded today. 
Not a lot sitting in the supply queue. For an average entry price of 3.6 cents, $35k would take out everything to 4c and  you could let the day traders sort it out from there


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## Sean K (16 August 2021)

Finally put another hole through the high grade bornite zone and extended it a bit. This is the area they want to shore up a high grade 100Mt@.8% Cu eq lode. No talk about the 50-50 fault and why that wasn't an issue drilling into this zone this time. 240m@1.36% is very good. Drilling since the last MRE really should expand the resource quite a bit. 

Up 10% but still languishing down at 3c.


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## Sean K (30 August 2021)

Still watching this 🦃day by day. Looks like it might have started a bottom. But, it still looks like a giant 🍋


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## Sean K (13 September 2021)

Wow! XAM had a green day! up 16%, or 0.004c. Incredible. Market Cap under $40m with $10m in the bank.  Mr Market is putting a HUGE discount on these guys due to the Mongolia thing. I've been in and out of this a couple of times, now waiting for some sort of positive signals in the chart. Still looks like a 🐶 at the moment.


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## Sean K (15 September 2021)

kennas said:


> Still watching this 🦃day by day. Looks like it might have started a bottom. But, it still looks like a giant 🍋




I flipped a coin and heads came up. Time for another short term risk play on this turkey with flees.


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## greggles (15 September 2021)

I just can't get past the Mongolia aspect. It's not Africa, but Mongolia is very different culturally and politically.

RIO is having issues there: https://www.mining.com/rio-tinto-to-cut-rates-on-loans-to-mongolia-for-oyu-tolgoi-expansion/


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## Sean K (15 September 2021)

greggles said:


> I just can't get past the Mongolia aspect. It's not Africa, but Mongolia is very different culturally and politically.
> 
> RIO is having issues there: https://www.mining.com/rio-tinto-to-cut-rates-on-loans-to-mongolia-for-oyu-tolgoi-expansion/




Absolutely, but heads came up. So, I'm committed.


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## peter2 (16 September 2021)

It gets very cold in Mongolia during winter.   Keep your yak skin coat tightly closed.






Agree, it's a nice HVBB in *XAM* but Mongolia is a no trade for me.


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## Sean K (22 September 2021)

kennas said:


> Absolutely, but heads came up. So, I'm committed.




Well, I flipped again and tails came up. So, back to the bleachers.


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## Sean K (15 October 2021)

I've thrown heads this time so time to top up and see what this flee bag can do in the lead up to updated MRE. Looks like some signs of life appearing and a little double bottom down there looks solid. Woof.


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## Sean K (28 October 2021)

Quarterly out and nothing to get excited about except they're claiming to now have only $7m in cash. Had over $10m just 2 weeks ago. Maybe they paid out some bonuses...  So, CR is on the horizon.

JOGMEC bailing on Red Mountain is disappointing. Shows clear lack of belief in its prospectivity. Unless they just have higher priorities.

I think anyone following this will know there's going to be a significant resource upgrade before the end of the year that will put them into the top few undeveloped copper deposits in the World not owned by a major. But, I reckon the only thing that's going to put this on the map is if they find another deposit at Kharmagtai that will significant raise the tonnage to over the 1Bt mark. Perhaps in the gap between Stockwork Hill and Zaraa in the blue square below. Plus, they need a high grade zone somewhere to be over 100Mt. There's every chance that could be at the next MRE update, but who knows.

And, yes, yes, it's Mongolia.


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## Sean K (8 November 2021)

Email from the company today:


Xanadu Mines CFO will be in Sydney on Thurs 11th Nov & Fri 12th Nov. Please let me know if you’re available for a coffee meeting with both CEO Andrew Stewart and CFO Spencer Cole, or alternatively join us for a group lunch.

Here’s a brief background on XAM:

Discovering & growing globally significant Mongolian copper assets. Both have mining licences, permitted water resource, with nearby power and rail infrastructure already in place. Flagship project is ~100km from Oyu Tolgoi Cu/Au mine.
1.9Mt Cu & 4.3Moz Au porphyry Mineral Resource Estimate (MRE) at flagship project, Kharmagtai. Kharmagtai MRE update coming 4Q’2021. Update will include further 61,500m drilling. Exploration program in last 2yrs has been multi-pronged and focussed predominantly on growing the high grade (HG) core.
Kharmagtai MRE currently includes HG core of 54Mt @ 0.86% CuEq. Some of the great recent HG drill intersections not currently in MRE, incl 106m @ 2.47% CuEq (see slide 11 https://www.xanadumines.com/site/PD...tation121MiningInvestmentOnlineAPACConference)
Open pit concept study was completed in April 2019, but given growing HG core, studies are investigating best way to develop and take advantage of HG core. HG core starts from surface and really starts kicking in at 300-400m (see slides 16, 17 & 31 https://www.xanadumines.com/site/PD...tation121MiningInvestmentOnlineAPACConference).
Earlier stage high grade Cu/Au/Ag exploration project at Red Mountain which XAM recently become sole owner and operator. Red Mountain consolidation was the first step in XAM’s broader commercial strategy to consolidate and simplify ownership of its exploration assets in Mongolia.
Recently released its first ever Sustainability Report, which provides XAM’s commitment to ensuring it maintains and strengthens its social licence to operate in Mongolia.


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## Sean K (26 November 2021)

Still in the doldrums waiting for the JORC upgrade. MC languishing at $36m with $5m ish in the kitty. EV of $30m with potentially 1Bt Cueq in the ground, I still don't get it. Mongolia! Still holding some, praying to Inti that they remain solvent.

Liking the bottom on this chart at the moment.


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## Sean K (8 December 2021)

OK, if this doesn't get noticed, I give up.

*An EV of about $30m with contained 3Mt Cu and 8Moz Au.
*


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## Sean K (8 December 2021)

Sean K said:


> OK, if this doesn't get noticed, I give up.




Where’s the I give up emoji?


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## greggles (8 December 2021)

Mongolia. The market has very little confidence in these kind of projects located in far flung locations. There's always sovereign risk and political risk. There's also infrastructure and cultural issues. The list goes on. Risk and complications. I won't invest in companies like this anymore.


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## Sean K (8 December 2021)

greggles said:


> Mongolia. The market has very little confidence in these kind of projects located in far flung locations. There's always sovereign risk and political risk. There's also infrastructure and cultural issues. The list goes on. Risk and complications. I won't invest in companies like this anymore.




I just thought the numbers alone would be enough for a jizzem and I would have bailed anyway. So, I too am crossing Pongolia off my list, never to be seen again. I did want to do the Trans Mongolian railway, so I’ll have to switch that to the Trans Siberian, if we’re not at war with China and Russia at the time.


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## Sean K (15 December 2021)

Finally a little movement. Could the bottom be in?


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## Sean K (6 April 2022)

Shot up 20% yesterday before being halted for the results of a scoping study. Lose lips. Will be interesting to see the economics.


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## Sean K (19 April 2022)

This is good news for longer term holders who have probably taken the opportunity to bail.


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