# MMC - Marengo Mining



## imajica (4 October 2006)

3 October 2006 


ASX RELEASE 

       INITIAL 371 MILLION TONNE RESOURCE FOR 
     YANDERA COPPER-MOLYBDENUM PROJECT (PNG) 

Marengo Mining Limited (ASX Code: MGO) is pleased to announce a 
preliminary mineral resource statement for the central portion of its 100% 
owned Yandera Copper - Molybdenum Project, located in Madang Province, 
in Papua New Guinea (see Figure 3). 

Inferred Resource of 127 Million Tonnes @ 0.7% Copper Equivalent 
(at 0.5% Copper  Equivalent cut-off), which equates to 1.96 billion 
pounds of contained copper metal equivalent, or an 

Inferred Resource of 371 Million Tonnes @ 0.49% Copper 
Equivalent (at 0.3% Copper Equivalent cut-off), which equates to 4.01 
billion pounds of contained copper metal equivalent. 

A similar tonnage of mineral inventory has been established for each cut-off. 
However this cannot be placed in a resource classification at this stage. It is 
Marengo's intention to focus its efforts on establishing sufficient information, to 
enable for the conversion of as much of this mineral inventory into a resource 
category as possible, in subsequent resource estimations. 

This preliminary resource statement has been prepared by respected 
international mining consultancy group, Golder Associates Pty Ltd, which has 
extensive experience in all facets of the mining and resources industry. It is 
based on 98 diamond drill holes completed during the 1970's by BHP Limited 
and others, and the first 7 diamond drill holes completed by Marengo as part 
of its current resource drilling program. The full text of the Golder Associates 
preliminary resource statement is attached as Appendix 1. 

Following the excellent results of the initial resource estimate, Marengo also 
today announces the commencement of a pre-feasibility study on the Yandera 
Project, as well as further results from its ongoing program of resource drilling, 
which have not been included in the current resource estimate.


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## Brasidas (28 October 2006)

*Re: MGO - Marengo Mining*

Minesite story discusses the rise and fall of the share price and the potential for a larger resource.

*Marengo Mining Pushes Its Copper Mountain Uphill * 

By Our Man In Oz        

When you’re sitting on a copper mountain valued at US$14 billion it is reasonable to expect a world short of the red metal to take notice. That was the case, but only briefly, when earlier this month Marengo Mining produced the first mineral resource estimate for its Yandera project in Papua New Guinea, a rather handsome 371 million tonnes of material assaying 0.49 per cent copper for a metal inventory of 4.01 billion pounds. From a lacklustre A25 cents, the Australian-listed Marengo jumped to A35 cents on October 3, its highest since mid-year.

Since that flurry Marengo has dropped off investor radar screens, slipping back to the mid-20 cent range despite an exploration program which promises to continue boosting the Yandera resource, followed by the production of a pre-feasibility study and preliminary mine design. What the market seems to be missing is that there are signs of certainty growing at Yandera which could lead either to the development of a major copper and molybdenum project, or spark a takeover bid from a major miner looking for future sources of supply.

Marengo chief executive, Les Emery, doesn’t like the comparison but there is a parallel to be drawn between what he’s doing and what happened at Tethyan Copper. At this time last year, Tethyan was also a largely unknown Australian-based explorer with its foot on a monster copper project. The only difference was that Tethyan’s copper was in an even less stable part of the world, a place called Reko Diq in western Pakistan. That location, which had weighed heavily on the wallets of potential investors, was not a factor in the bidding duel that developed between a joint venture of two of the world’s biggest miners, Canada’s Barrick Gold and Chile’s Antofagasta, in competition with a small Hong Kong-based merchant bank, Crosby Capital.

From a price of around A40 cents, about as lacklustre as Marengo today, Tethyan was steadily bid up to A64 cents (the initial offer), then A77.5 cents by Crosby, and then A$1.20 by the Antofagasta/Barrick consortium, to A$1.35 by Crosby, and finally A$1.40 by the big boys who managed to knock the Hong Kong upstart out of the ring – though not before the duel had added A$1 a share to Tethyan’s price, an impressive gain of 250 per cent over 10 months of bidding. Minesite first drew the Tethyan comparison when it last looked at Marengo in April. It was a good theory then, and it’s better today because the last time around Marengo lacked the all-important resource estimate produced to the standard required by the Joint Ore Reserves Committee, under its so-called JORC code.

The first JORC compliant resource estimate for Yandera comes after several attempts to demonstrate that the project, located close to the Ramu nickel/cobalt prospect of Highlands Pacific and its Chinese partner, is a mine in waiting. The original work at Yandera dates back to drilling by BHP in the 1970s, a time that preceded the modern JORC standard of reporting. What Marengo has done is secure title to 100 per cent of the tenement areas covering Yandera, re-assess the original BHP work, and start a drilling program of its own. So far, everything is pointing to a massive mineralised structure, as highlighted in some of the latest drill cores which include intersections as wide as 240 metres, assaying 0.67 per cent copper and 217 parts per million molybdenum: a grade equivalent to 0.89 per cent copper.

Thick hits of copper and molybdenum have been the norm at Yandera since BHP’s days. The difference is that this time around the copper market is completely different, price and demand are strong and, more importantly, big new sources of supply are scarce. Emery, who was travelling when Minesite called , has been telling potential investors in a series of presentations that pre-feasibility work has started at Yandera, along with a continued drilling programme. “The initial resource estimate was completed ahead of the company’s original schedule,” Emery said.. “It was based on 98 diamond drill holes completed during the 1970s by BHP and other former explorers, and the first seven diamond drill holes completed by Marengo.”

Significantly, the latest big hit, the 240metres at an equivalent of 0.89 per cent copper, was not included in the resource estimate because the results arrived too late. Assays are also due to be received from a number of other drill holes with Marengo having completed 13 and with eight more remaining to be drilled, or are in progress. Emery said the resource estimate confirmed Yandera as “a potentially world class mining project” with significant potential for further additions to the mineral inventory as drilling continued. The plan is to run the pre-feasibility study at the same time as the drilling programme.

“Our efforts will be focused on converting as much of the mineral inventory into a resource category as soon as possible, as part of subsequent resource estimations,” he said. “In addition, drilling will target near-surface zones with the potential to maximise cash flow in the early stages of mining operations.” As part of the process, a feasibility study manager has been appointed with his work to include overseeing preliminary mine design, open pit optimisation, metallurgical testing, plant flowsheet design plus capital and operating cost estimates.

It’s the combination of on-going drilling, the upgrade of resource estimates into higher categories, and the start of detailed mine planning which will make 2007 the most significant in Marengo’s short life – and all the while, ticking away in the background, is the fate of Tethyan; a fate that not too many investors would object to!

http://www.minesite.com/storyFull5.php?storySeq=3892


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## YOUNG_TRADER (4 April 2007)

*Re: MGO - Marengo Mining*

With a surging copper price and an already impressive JORC and a tiny market cap I like the look of MGO,

I read that a new JORC is due out soon, so I'd say in the next 4 weeks I'd expect MGO to test 40c +


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## YOUNG_TRADER (13 April 2007)

*Re: MGO - Marengo Mining*

Well MGO has been on the move of late rising from the 20c level to test the 30c level,

Just read a DJ Charmichaels report that has value of 45c MGO

_We recommend MGO as a Speculative BUY to risk tolerant investors with a
medium term investment horizon. We have a 12 month price target of $0.45
per share, in anticipation of an increase in resources and scoping study results.
Any discovery of higher grade within the deposit, will surprise on the upside._

Interesting read

http://www.marengomining.com/reports/rr070403.pdf


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## YOUNG_TRADER (13 April 2007)

*Re: MGO - Marengo Mining*

*MGO*​
*
Mkt Structure*
*
Shares*
125m 
65m 20c 28/2/08 Options

Mkt Cap @ 20c = $38m (Includes $13m worth of options)
Mkt Cap @ 30c = $57m (Includes $13m worth of options)
Mkt Cap @ 40c = $76m (Includes $13m worth of options)
Mkt Cap @ 50c = $95m (Includes $13m worth of options)

*
Cash*
$8m + $13m from opies = $21m

*
Projects*
*
Yandeera* _Copper/Moly + Gold, 100%, PNG_

This project has had something like $30m spent on it be previous explorers such as BHP who left the project in the 1970's due to very low commodity prices,

*BHP outlined a resource of 1.143 Billion tonnes  @ 0.33% Copper + 0.015% Moly = 0.5% Copper Equiv*

Marengo did some intial work last year to confirm all the previous work and estimates and came out with a *first pass intial JORC of 371Mt @0.35% Cu + 0.014% Moly = 0.49% Cu Equiv*

A new JORC is due out very shortly and should be in the order of say *500Mt-600Mt@0.5-0.6% Cu Equiv *

Its only a matter of time however before MGO deliver a 1Billion tonne + JORC grading 0.5% Cu Equiv as we know its there, its just not JORC compliant as the estimation was done pre 2004 when the JORC code was introduced.

Of significant importance is the fact that about 30kms to the North, Chinese firms are developing the large Ramu Nickel Mine and thus alot of the infrastructure costs such as power roads and even transport are mostly taken care of.



*
Value Comparison*
The most obvious comparison is with PMH, Pac Mag which went from 20c - 60c over 2 days after releasing a JORC for its Ann Mason deposit in Nevada, it was 810Mt@ 0.44% Cu Equiv, *HOWEVER PMH's deposit has about 100m - 200m of overburden soil, ie the mineralisation doesn't really start until you get 100-200m down, thats alot of top soil/waste soil*
*
In contrast MGO's Yandeera's mineralisation is from surface! ie very very low waste and top soil*

Now PMH at 50c = Mkt Cap of $75m
@ 75m MGO should be at 40c 

*
Yandeera EV (Take Over value)*

Now the best way to value a large Copper deposit is on an EV per lb basis, generaly speaking large copper deposits have an EV per lb basis of between 2.5c as an absolute minimum all the way up to say 25c per lb based on grade, how deep the deposit is, infrastrucutre, risk and so on



Using the lowest EV of 2.5c per lb and Yandeera's current 4Billion lb's Copper Equiv = $100m = 50c MGO

Assuming the New JORC comes in at say 500Mt@0.5% Cu Equiv = 5.5Billion lb's Cu Equiv @ 2.5c per lb = $137.5m = 72c MGO


*
Valuation*

Current EV Yandeera = $100m
Expected New JORC  = $137.5m

Cash + Options = $21m

*

Current Value = $121m = 63c

Expected New Value = $158.5m = 83c*


*
Summary*

There is alot of info on MGO's web page so if your curious where I got alot of my information from go there,

There is also a few articles out there that recommend MGO as the next Tethyan Copper type takeover,

For some reason the Aussie Mkt sees PNG as risky which is crap, the country depends on mining for its GDP so it will always assist, moreover it is corrupt so if you allign Govt and Company interests you won't have any problems, the *PNG gov't super fund has invested in MGO* so I'd say the Gov't will ensure MGO gets approvals for everything they need so as to maximise MGO value  

Finally MGO is looking to list on the TSX or North American mkt later this year, management have been told that given their current position where they listed on say the TSX their Mkt Cap would be 2-3x what it is now.

I expect a NEW JORC soon as well as more spectacular drilling intersections ie 81m at 2.39% Cu Equiv

Enjoy


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## mick2006 (26 April 2007)

*Re: MGO - Marengo Mining*

Recently looking into the rise in price for molybdenum and started looking for companies with large resources and then came to MGO.  Massive copper and molybdenum resources currently valued in ground at $18 billion dollars at the Yandera deposit in PNG.  With current drilling well underway should see resource upgrades in the coming weeks.

The Yandera deposit in PNG is massive and world class, also 5 months into the pre-feasability study which is due to be completed in June.
If the pre-feasability study highligts a profitable large scale mining operation it could be safe to assume a re-rating of MGO due to the fact they have a massive resource which would no longer just be sitting in the ground but a viable long term project.

With massive in ground value and $10 million in the bank to expand the resource any good news would certainly put MGO firmly in focus of some of the larger miners looking for World Class Deposits!!


Anyone out there holding or keeping an eye on MGO?


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## YOUNG_TRADER (1 May 2007)

*Re: MGO - Marengo Mining*

Rising today oin antcipation of the new jorc,

Interestingly the latest qtrly highlighted just how much Moly the company has and with Molybdenum becoming the Hot Metal for 2007 I expect Marengo to attract alot more interest, especially when the new jorc is released


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## YOUNG_TRADER (1 May 2007)

*Re: MGO - Marengo Mining*

Resource review to firm Marengo’s place in PNG

30th April 2007, 8:30 WST


The next fortnight is shaping as a big one for Les Emery’s New Guinea copper-molybdenum hopeful Marengo Mining as it pursues its quest to develop the Yandera project, about 450km north-west of Port Moresby. 

Originally discovered by US miner Kennecott and BHP in the 1970s, the big project has suffered a series of false starts over the years and is now in the hands of its seventh operator. 

Coincidentally, that bodes well for the project this time around. *Mr Emery’s Lynas Gold was also the seventh company to own the Lynas Find gold project when it successfully commissioned the Pilbara’s first commercial gold mine more than a decade ago. *
Yandera is already a substantial deposit, based on Marengo’s initial resource estimate released last October of 371 million tonnes grading 0.35 per cent copper and 0.014 per cent molybdenum, a steel hardening agent increasingly seen by the stainless steel industry as a costeffective substitute for nickel. 

With copper prices remaining at heady levels above $US7800 a tonne and “moly” back on the rise above $US30 a pound ”” six times higher than the price three years ago ”” *Marengo estimates that the existing resource of 2.9 billion pounds of copper and 170 million pounds of moly already boasts an in-ground value of $18 billion. *

*But that figure should be blown aside when the company completes a revised resource estimate in the next few days, which Marengo hopes will come in around the 500 million tonne mark at a copper equivalent grade of about 0.5 per cent. *

From that, Marengo hopes to outline reserves of at least 200 million tonnes ”” the minimum it needs to sustain a 20 million tonnes a year mine for 10 years. 

*But even that will not fully encapsulate the true scale of the Yandera project, given the resource will be based on just three of the eight known major deposits at the project, which is generally considered one of the biggest untapped copper deposits in the South Pacific. *

Nonetheless, that should be sufficient for a successful conclusion to a pre-feasibility study by late June into a “starter” mine producing around 100,000 tonnes of copper in concentrate a year with a likely price tag of $750 million to $1 billion. 

Marengo plans to crush all ore on site, and carry it down the mountainside via a 30km conveyor. From there it will be shipped to a concentrator on the coast by way of a dedicated 100km railway. 

According to Mr Emery, the near unrivalled moly content of the Yandera deposits will enable Marengo to produce a separate moly concentrate that will account for about 40 per cent of the mine’s revenue. 

It is also now evaluating the potential to cash in on Yandera’s high concentration of another little known exotic metal, rhenium. A key ingredient in catalytic converters and “super-alloys” used to make jet engine components, rhenium is currently trading at more than $US7000/kg. 

Though BHP recorded high rhenium values in a number of assays in the 1970s, it never carried out follow-up work. 

It is understood that Marengo has since completed fresh assays which have confirmed the significant rhenium content associated with higher grade zones of moly, that should generate significant additional credits from concentrate customers. 

Buoyed by strong market support for junior-led mining developments, Mr Emery is confident Marengo will be able to develop Yandera without bringing in a “big brother” partner. 

Mr Emery said Marengo was probably “about three years behind” Perth neighbour Equinox Minerals, which has become the standard-bearer for the junior sector after raising more than $500 million to develop its massive Lumwana mine in Zambia and is now valued at over $1 billion. 

JOHN PHACEAS


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## YOUNG_TRADER (2 May 2007)

*Re: MGO - Marengo Mining*

Another 500k traded today at or above 30c, looks like a new support level may form around 30c, still has a bit of work to do, but if it does it will be an excellent launching pad for the *new JORC due out in less than 2 weeks*


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## YOUNG_TRADER (3 May 2007)

*Re: MGO - Marengo Mining*

Hardly any sellers left, looks like the insiders know the NEW JORC is very good,

See below for my thoughts on where MGO can/should end up, as a note PMH rallied from 20c to 60c in 2 days when the mkt became aware of its similarily large Copper/Moly project, similar share structures MGO and PMH



YOUNG_TRADER said:


> *MGO*​
> *
> Mkt Structure*
> *
> ...


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## ta2693 (3 May 2007)

*Re: MGO - Marengo Mining*

Funny, why people pay 37.5c to buy share rather than pay 15c to buy option and convert to shares, save 2 cents. Interesting.


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## YOUNG_TRADER (3 May 2007)

*Re: MGO - Marengo Mining*

Just had another look at the qtrly, New JORC is not coming out for at least another week I would have thought, but more drill assays are due, these assays are from drill holes which targeted the intersection that was *39m@3.54 g/t Gold* I'd say there news leaking from these assays as there is just wayy too much volume going through, Kennas reckons a 50c target, which is quite possible once new JORC is out considering similar play PMH (same share structure) went from 20c to 60c in 2 days!


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## Pat (3 May 2007)

*Re: MGO - Marengo Mining*

People are buying big chunks this morn. That 70K sell just got munched in 5 mins. 
It's a gold rush?
Chasing, chasing chasing.


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## YOUNG_TRADER (3 May 2007)

*Re: MGO - Marengo Mining*

At 12noon it went quiet and the stock has been quiet since, no real selling, no real buying,

This reminds me of JMS and BCN both of which had large runs on a day where they rose in the AM then were quiet around 12noon till 2pm then went really nuts 2pm to 4pm

Of course stock could have run out of steam for today, but I eagerly await 2pm/2.30pm to see what happens


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## UPKA (3 May 2007)

*Re: MGO - Marengo Mining*

I think its the case where people with inside information jumped on the stock in the morning, got what they wanted, then the rest js settled, because the rest of us have no idea wats going on.


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## Pat (3 May 2007)

*Re: MGO - Marengo Mining*

The market depth as of 1:30 pm looks strong on the buy side. Some big sells waiting but the sell side looks weak. A lot more buyer's out there today.
Perhaps a little frenzy before close, maybe close at a high?


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## UPKA (3 May 2007)

*Re: MGO - Marengo Mining*

The last time when theres a surge in SP with similar volume was in 03/10/06, the price surged 20% in 2days, that was before the feasibility study was released. So looking at the 20% jump today, iI dont think it'll go any higher today. Possible a drop tomorrow, well lets hope not!!


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## YOUNG_TRADER (3 May 2007)

*Re: MGO - Marengo Mining*



UPKA said:


> The last time when theres a surge in SP with similar volume was in 03/10/06, the price surged 20% in 2days, that was before the feasibility study was released. So looking at the 20% jump today, iI dont think it'll go any higher today. Possible a drop tomorrow, well lets hope not!!




True, but alot has changed since then, primarily

1. The NEW JORC will be close to 50% bigger

2. Molybdenum is a very important metal (DGR case in point)

3. The North American and Canadian Insto's are now watching courtesy of MD going all over there + London to do presentations

Remember 40c is all time high, if it clears it then its into to blue skies and you can  throw away your rule book because once stock is in Blue Skies it can do anything


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## surfingman (3 May 2007)

*Re: MGO - Marengo Mining*

I was checking out there website an interesting video presentation by director Les Emery.

Stating pre-feasibility study due in june and bankable feasibility study 12 - 18 months on the Yandera Project, upgrades on Yandera Project deposits possibly up to 2x this year.

http://clients.westminster-digital....ite/events/40/video/index.aspx?companyID=40_3


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## ta2693 (3 May 2007)

*Re: MGO - Marengo Mining*

"PNG gov't super fund has invested in MGO so I'd say the Gov't will ensure MGO gets approvals for everything they need so as to maximise MGO value"

I have experience dealing with corrupted government.  I can not agree with you more.


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## Ruprect (3 May 2007)

*Re: MGO - Marengo Mining*

Thanks for your research YT. 

I bought a small parcel of these this morning, i think it closed well after stalling around midday. 

Some reasonable sized sellers heading up to 40cents, but they wouldnt last long if the "company completes a revised resource estimate in the next few days, which Marengo hopes will come in around the 500 million tonne mark at a copper equivalent grade of about 0.5 per cent" as referred to by the West Australian on Monday.

An announcement probably isnt far away based on that prediction, and what looked like solid accumulators today.

I hate the phrase, but do have to agree, post 40cents its def blue skies!


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## Ruprect (4 May 2007)

*Re: MGO - Marengo Mining*

A speeding ticket yesterday hasnt dampened this one at all - holding very firm today. 

A lot of punters waiting on the expected announcement shortly. If all the speculation is right, next week might prove very interesting.


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## chicken (4 May 2007)

*Re: MGO - Marengo Mining*

Bought in at 37.5c......after reading re PNG...this share looks intresting and with a listing in north America coming up could easly do well...looking good to me...using gut feeling here..as PNG pension fund invested..I have been up there and when its on it really will be on...this could be one of them...my spec investment...


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## Ruprect (4 May 2007)

*Re: MGO - Marengo Mining*

This is rocketing now - big purchases, just took out 300k of shares at 39cents in one big hit. 200k for sale at 40c, if it gets through that, there appears to be little resistance.


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## YOUNG_TRADER (4 May 2007)

*Re: MGO - Marengo Mining*



Ruprect said:


> This is rocketing now - big purchases, just took out 300k of shares at 39cents in one big hit. 200k for sale at 40c, if it gets through that, there appears to be little resistance.




Its through,

Rising very strong indeed, maybe a little too strong unless news comes out soon?

I am taking some profits here and there.


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## Ruprect (4 May 2007)

*Re: MGO - Marengo Mining*

Hard to pick whats going on. 

Question is, how long after a speeding ticket can they make a sensitive announcement? Ive seen it done a day later in the past.

I guess we know something is due to come out in the next week.

The buy orders were very large though, and so close together, likely to be the one source.


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## Pat (4 May 2007)

*Re: MGO - Marengo Mining*

Will it hold 40 cents on close? Buyers running out a little after the big buy up.
Monday is so far away.
I was in yesterday at 37 cents.


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## Ants (4 May 2007)

*Re: MGO - Marengo Mining*

Damn went away from the computer to make a roll for lunch today I decide to sit at the table instead of the bloody computer and it spikes. I was just saying to my7 girlfriend how it would be greast to have a little watch feeding me live updates so I could get awy from the desk, no kidding!Still holding at a sensible price range. Any thoughts?


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## surfingman (4 May 2007)

*Re: MGO - Marengo Mining*

Yesterday afternoon there was some good late sales, I'm guessing today the same will happen with very good volume today also.

I am undecided to sell now, or to hold for short term maybe another month or so, then there may be a possibility of increase in resource size.


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## Ants (4 May 2007)

*Re: MGO - Marengo Mining*

Sell depth is still extremly thin. With that said I think this one still has a lot left in it. Those were some big buys that went through.


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## YOUNG_TRADER (4 May 2007)

*Re: MGO - Marengo Mining*

Having bought my MGOO at 8c (about 1 month ago) I had no problem in taking some profit at 16c-19c 

There is still lots of potential here but it has been running hot and we're in MAY, any other period and I'd sit and wait for JORC but MAY gets me all


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## Pat (4 May 2007)

*Re: MGO - Marengo Mining*

Looks like it would of held at 41 cents till someone dumped 70k of shares at 38.5 cents.
I think buyers look a little weaker with sellers coming on.
No news is bad news.


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## Ruprect (4 May 2007)

*Re: MGO - Marengo Mining*

I dont know, the buy side looked like that for most of yesterday and today. There were two big trades that i could see today, 300k at .39 and 200k at .40, quite possibly the same buyer. Then it was a frenzy to .46 before pulling back. 

The West Australian article on Monday pointed to news in the next fortnight, so we might reasonably expect something next week.

I think the big trades point to something interesting, so im quite hopeful.


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## vert (4 May 2007)

*Re: MGO - Marengo Mining*

yes it would have held 0.41 but i was on a t+1 trade and went out at the wrong time and missed the mad rush to 0.46  , i was hoping for some buyers to come back at the end of the day but no luck so i dumped on the close. sorry guys but i still made a profit and will be watching very closely next week.


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## surfingman (4 May 2007)

*Re: MGO - Marengo Mining*



vert said:


> yes it would have held 0.41 but i was on a t+1 trade and went out at the wrong time and missed the mad rush to 0.46  , i was hoping for some buyers to come back at the end of the day but no luck so i dumped on the close. sorry guys but i still made a profit and will be watching very closely next week.




Same happened to me, went to uni to learn about investment came home and wished i never left the house, lecture was average but there's always Monday, those big sales going through gives me a little more faith.


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## Ruprect (4 May 2007)

*Re: MGO - Marengo Mining*



vert said:


> yes it would have held 0.41 but i was on a t+1 trade and went out at the wrong time and missed the mad rush to 0.46  , i was hoping for some buyers to come back at the end of the day but no luck so i dumped on the close. sorry guys but i still made a profit and will be watching very closely next week.




Lol, no worries Vert! I thought it might be someone who had to get out. Glad you made a profit. I assume you were able to get out of some of them a bit higher than 38.5?

If those same big buyers are there next week, or if we see the expected announcement, the mad rush might well start again.


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## Pat (5 May 2007)

*Re: MGO - Marengo Mining*

Good onya Vert   

I hope we see some good volume early Monday and bring it back above 40.
37 cents seemed to be a base Thursday and Friday, I think if it falls under 37 cents SP will snap back into the bollinger bands... around 32-33 cents.

Need some news to keep up momentum, run hard to 46 cents and I missed it too. Oh well


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## happytown (7 May 2007)

*Re: MGO - Marengo Mining*

the following commentary accompanied a chart (not attached) from last weekend fairfax paper, by chartist regina meani (the chart appears to pre-date late last weeks price action),



> mm is a diversified metals company with high quality copper, molybdenum and gold deposits in png. a trend path established in 2003-04 saw the price rise from 8.2c in dec 04 to 34c by aug 05. a similar momentum build-up may see more churning between 24 and 32c before breaking higher towards 40c, 55c and potentially as high as 80c. the risk would be a break in trend through 21c.




cheers


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## Pat (7 May 2007)

*Re: MGO - Marengo Mining*

I'm out @ 42.5 cents this morn. I'm still too impatient. ann still pending, bet it's out tomorrow now that I sold and a run to 60 cents. Good luck guys


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## Ruprect (7 May 2007)

*Re: MGO - Marengo Mining*

Announcement is due out mid may according to the website - "Resource update due mid-May 2007.", so that suggests something in the next week.

Marengo also made yet another presentation at the Asia Miner conference in Sydney today, to add to their presentations recently in London and Canada.

I think the big buyers late last week might indicate that the resource upgrade is substantial.  We shall see soon if they are right!


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## zt3000 (7 May 2007)

*Re: MGO - Marengo Mining*

Can someone explain to me in their presentation the "in situ resource value of $ billions ..."

Surely that would warrent a much higher SP ....


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## doctorj (7 May 2007)

*Re: MGO - Marengo Mining*

What exactly do you want to know?

There are many companies with resources that you could quite easily argue are worth billions but have market caps <$100M.


----------



## zt3000 (8 May 2007)

*Re: MGO - Marengo Mining*



doctorj said:


> What exactly do you want to know?
> 
> There are many companies with resources that you could quite easily argue are worth billions but have market caps <$100M.




Maybe what im trying to ask, is that is that insitu resource they talking about, actually worth anything yet .. is it still unproven or speculated size?


----------



## S_Hug (11 May 2007)

*Re: MGO - Marengo Mining*

Price has has been dropping back last couple of days, so I'm back in again now.  I'm also thinking news can't be far away now (hopefully!) with this Monday entering mid-month period.


----------



## YOUNG_TRADER (11 May 2007)

*Re: MGO - Marengo Mining*



S_Hug said:


> Price has has been dropping back last couple of days, so I'm back in again now.  I'm also thinking news can't be far away now (hopefully!) with this Monday entering mid-month period.




Yeah but the opies have held up damn well, looks like I took too much profit a wee bit too early


----------



## Ruprect (14 May 2007)

*Re: MGO - Marengo Mining*

Any thoughts on the recent slight pullback?

Its only on light trade, so i can only assume its those that arent prepared to wait. We are now at the mid may mark, so announcement of resource upgrade cant be too far away.


----------



## UPKA (14 May 2007)

*Re: MGO - Marengo Mining*

So the drill samples are out, and its taking them a while to get the report out, I think alot of ppl r losing their confidence, im still holding...


----------



## smm (14 May 2007)

*Re: MGO - Marengo Mining*

Statements by the company have stated that they have a 'similar amount' of pre jorc resources as they do current jorc resources, which stand at 371Mt at around 0.5% Cu eq.

If this is correct then we will have a resource of 742Mt of 0.5% Cu with an in ground value of 37 billion AUD. that is a very large number and will make this a certain takeover target by the large mining houses looking for long term projects.

The resource upgrade is due mid may. the pre feas study due by the end of june. prefeas is based on inital base case of 20Mtpa which would generate revenue of $1 Billion AUD per annum. I expect the market cap to rise from the 50m it is at now to around 300m once the prefeas numbers show a profitable very long life operation even at lower long term Cu prices. that is the share price will rise to between $2.20 and $2.50 in the next 6 months. It would still be undervalued comparatively at those prices.

I suggest you have a look at this very good opportunity. the management are world class and have proven track records. they will do future capital raisings following the prefeas and have hinted at a TSX listing which does wonders for companies with world class projects.
Current inground value before resource upgrade is $124 per share. Now trading at around 40c.


----------



## YOUNG_TRADER (17 May 2007)

*Re: MGO - Marengo Mining*

I have cashed in majority of my investment in MGO having made about 175% in 1 month,

Those who followed my intial analysis on MGO would have been able to buy MGO close to 20c and MGOO around 6-7c


For those interested I see FNT as another highly undervalued PNG Copper play, see the thread

Cheers


----------



## UPKA (18 May 2007)

*Re: MGO - Marengo Mining*

A seller js put close to 200k shares on the market for 0.375! wat is the guy thinking? does he/she know something that we dont???


----------



## surfingman (18 May 2007)

*Re: MGO - Marengo Mining*

I would say its close to tax time and the market is down for the day 230pts for materials, a good time to buy if Monday doesn't follow in todays footsteps...


----------



## UPKA (21 May 2007)

*Re: MGO - Marengo Mining*

Ok boys, we r in trading halt till wednesday pending an announcement, fingers crossed, good times could be ahead!


----------



## Ruprect (21 May 2007)

*Re: MGO - Marengo Mining*

Trading Halt pending announcement.

Should i be worried that someone sold down a medium to large parcel just before close on Friday? Oh well, nothing that can be done now.

If its a good resource upgrade then market should be happy. And i'll be happy.


----------



## UPKA (21 May 2007)

*Re: MGO - Marengo Mining*



Ruprect said:


> Should i be worried that someone sold down a medium to large parcel just before close on Friday? Oh well, nothing that can be done now.




do u recall the volume Ruprect? could be js a speculator getting out on profit incase the annoucement is sour? and single order is prob nothing to worry abt.


----------



## Ruprect (21 May 2007)

*Re: MGO - Marengo Mining*



UPKA said:


> do u recall the volume Ruprect? could be js a speculator getting out on profit incase the annoucement is sour? and single order is prob nothing to worry abt.




Sorry, i dont, it was over 100k, but less than 200. There looked like 2 trades at market. I just missed out on picking up another small parcel at .35 even though they took most of that out. 

But you are right, it looked like only one seller, so its nothing to worry about. Maybe i'll be disappointed i didnt get that extra parcel!


----------



## UPKA (22 May 2007)

*Re: MGO - Marengo Mining*

Am I the only one getting frustrated over teh delay in announcement? its already tuesday night, still nothing came out. i mean surely the directors r holding on the reports now and prob having a nice cold beer relaxing at the pub, while we axiously waiting here for nothing...


----------



## surfingman (22 May 2007)

*Re: MGO - Marengo Mining*

with the trading halt it said the announcement will be released to market on Wednesday being tomorrow, didn't it?


----------



## Danash (22 May 2007)

*Re: MGO - Marengo Mining*

I doubt the directors are in the pub. I understand that several of them are currently in Canada presenting to brokers and investors ahead of a possible TSX listing. As I understand it they will be there until early June. I would suggest the time difference between Aus and Canada may account for the 2 Day trading halt.

What ever the resource estimate comes in at for Yandera tomorrow we know that this is really just the beginning. We know she should be somewhere in the order of 500 mil tonnes tomorrow with a cu/mo equivalent grade somewhere between .5% and .6%. 

In drawing comparisons the Michiquillay Project in Peru has just been sold to Anglo American via auction for US $403 mil. “Michiquillay is one of the best undeveloped copper prospects in the world with significant upside potential” said Cynthia Carroll, CEO of Anglo American, in a statement. It has 544 mill tonnes at .69% plus some gold and silver credits. Yandera is in the same ball park.

By my very rough calculations Anglo has paid approx 4.8 US cents per pound on copper in the ground. Extrapolating that Yandera on 500 mil @ .5% would equate to US $247 mil = approx $1.80 per share on a diluted basis for MGO. While not guaranteeing my calculations as they are rough they do highlight the immediate potential of MGO and how significantly under valued it is. By tomorrow MGO should be able to show that Yandera is in the same class as Michiquillay. 

One final thought. Among the other 17 pre-qualified bidders for Michiquillay there were Barrick, Xstrata, Southern Peru Copper, Compania Minera Milpo, JOGMEC, Zijin Mining and Nippon Mining & Metals Co., Japan's largest smelting company. Given they have all missed out on this major deposit I wonder what doors they could knock on next ??? Food for thought.

DYOR


----------



## Ruprect (22 May 2007)

*Re: MGO - Marengo Mining*

Great report Danash, and welcome!

Report just out - expect a re-rating tomorrow. MGO has traded in the same range for the past 2 years. This announcement will be very postive for the sp imo. A 78% increase in previously announced resource tonnes!!!

Updated resource totalling 660Mt at 0.48% Copper Equivalent (2.9Mt or 6.3 billion pounds of estimated recoverable copper metal equivalent), representing a 78% increase on the previously announced resource tonnes

Includes an Indicated Resource of 163Mt at 0.49% Copper Equivalent, within the Gremi Zone, with the balance of 497 Mt at 0.48% Copper Equivalent as an Inferred Resource.

Potential for “starter pit” identified at Gremi based on higher-grade, near-surface mineralisation.

Yandera Pre-Feasibility Study progressing well, with current activities focused on optimisation of the conceptual Yandera “starter” open pit.


----------



## spartn (22 May 2007)

*Re: MGO - Marengo Mining*

MMMmmmm 2.9 Mt's Copper

Im not entirely sure, but isn't this even worth more $$ than the Bullsh*t resource amount CDU came out with last year.

2,900,000 tonnes at say $6,500 (being conservative) = $18.85 Billion.

will be interesting to see tomorrow.

might buy a few thousand bucks worth, just to make sure my thinking is right..

Spartn

:viking:


----------



## UPKA (22 May 2007)

*Re: MGO - Marengo Mining*

Looks like the prediction of 600+mt of copper was close to the actual report, but has the market taken the prediction into the SP? The SP is indeed undervalued, but it's only the beginning, it'll be a while be4 the full production starts. So its only the first step of many. Lets see how the market will react tomorrow morning!


----------



## chicken8 (22 May 2007)

*Re: MGO - Marengo Mining*

Whats everyone predicting the price to get to tomorrow?

I had hoped for 50c about 2 weeks ago but now I think I might let myself be a bit more optimistic?


----------



## Ruprect (23 May 2007)

*Re: MGO - Marengo Mining*

I think the key point is that MGO had previously been hoping to increase the resource from 371 million tonnes to around 500 million tonnes. (See presentation from Les Emery in London a couple of months back, "our expectation is to see that number sitting at around around 500 million tonnes")

So the increase to 660 million tonnes is a big difference from what they were hoping for this time. They have also said that they are trying to increase the resource to 1 billion tonnes. JORC indicated resource is 163 million tonnes, and JORC inferred resource is 497 million tonnes.

An even better point is that resource estimate is copper and molybdenum only. That is, the reource also contains gold, silver and rhenium, but this has not been included in the resource estimate to date. These other metals are obviously a bonus.

Some positive points for the future:

- Continuing drilling to increase the resource, may provide another update later this year
- 40% institutional holding
- Pre feasibility study expected to be completed late June
- Moving toward bankable feasibility study soon after
- $8.5 million cash at hand, options should bring in $10million + early 2008
- Market cap only $44 million
- Expected to dual list either in Toronto or London later in the year
- Been conducting forums in London, Sydney and Canada

Thats not an exhaustive list, there is obviously more. And the Yanderra project is not the only one they are involved with.

I think this is a long termer for me, i like what this company are doing, and i am quite impressed with the management. Just my opinion, please DYOR.


----------



## YOUNG_TRADER (23 May 2007)

*Re: MGO - Marengo Mining*



YOUNG_TRADER said:


> With a surging copper price and an already impressive JORC and a tiny market cap I like the look of MGO,
> 
> *I read that a new JORC is due out soon, so I'd say in the next 4 weeks I'd expect MGO to test 40c +*




And so it did

Will certainly be interesting to see how this goes, considering I was one of the lonely ones supporting it 1-2months ago when the SP was 20c and the opies were 6-7c, I hope lots of ASF peeps were able to get onboard at those levels,

I have sold all of my holding and switched into FNT which is also due to release a new JORC in 2weeks or less, will look to getting back in on MGO once the dust settles in a month or two


Company definately has long term potential but not sure how far it will run tomorrow, will watch and see


----------



## surfingman (23 May 2007)

*Re: MGO - Marengo Mining*

Updated resource totalling 660Mt at 0.48% Copper Equivalent (2.9Mt or 6.3 billion pounds of estimated recoverable copper metal equivalent), representing a 78% increase on the previously announced resource tonnes.
Includes an Indicated Resource of 163Mt at 0.49% Copper Equivalent, within the Gremi Zone, with the balance of 497 Mt at 0.48% Copper Equivalent as an Inferred Resource.
Potential for “starter pit” identified at Gremi based on higher-grade, near-surface mineralisation.
Yandera Pre-Feasibility Study progressing well, with current activities focused on optimisation of the conceptual Yandera “starter” open pit.


----------



## Sean K (23 May 2007)

*Re: MGO - Marengo Mining*

Looks like it's going to open up at over 42 cents at the moment. Will be very interesting to see how it pans out during the day. Surplus in the bid at the moment. Too early to tell perhaps. Got a mention in the Fin this am so there will be more interest I think.

Well done again YT!


----------



## UPKA (23 May 2007)

*Re: MGO - Marengo Mining*

looks like the SP be4 the trading halt has reflected the prediction of 600mt resources, so the result was within expectation, only marginally higher. so the price didn't spike as much as i would've liked it to.


----------



## YOUNG_TRADER (23 May 2007)

*Re: MGO - Marengo Mining*



UPKA said:


> looks like the SP be4 the trading halt has reflected the prediction of 600mt resources, so the result was within expectation, only marginally higher. so the price didn't spike as much as i would've liked it to.




Yeah but thats why you should get on board early before the SP runs, now MGO is a good long term hold but I think it'll be quiet on the news front and may drift a little,

Remember its up well over 100% in say 30 days,


----------



## Fool (23 May 2007)

*Re: MGO - Marengo Mining*

Based on it opening at 52.5c and current offers at 43c (~20%), I would say the current share price has at least 10% swing in it left, maybe even another 20%.

It definitely would look to still be a reasonable entry point, especially if you are going to hold it.


----------



## Ruprect (23 May 2007)

*Re: MGO - Marengo Mining*



Fool said:


> Based on it opening at 52.5c and current offers at 43c (~20%), I would say the current share price has at least 10% swing in it left, maybe even another 20%.
> 
> It definitely would look to still be a reasonable entry point, especially if you are going to hold it.




Agreed. I would expect some press interest in this announcement, as well as the interest that will no doubt be created by Marengo giving their presentation in Toronto this week.

Its a long term hold, pre feas study will be completed by the end of june, followed by the move toward a bankable feas study and listing in either toronto or london toward the end of the year. And i wouldnt rule out another upgrade to the resource this year, with a movement of some more of the JORC inferred to JORC indicated.

At this point, excluding gold and silver etc, the JORC indicated or inferred inground value is around *28 billion dollars *Australian. That is massive. And according to Marengo, its likely to grow even further. Not bad for a company with a market cap of around 40 something million.

A good entry for MGO might be the options (MGOO) at the moment, trading at only a 1cent premium to the sp, close 26c, sp close 45c. Ex price 20c, Feb 08. I think the options have traded at between a 2 and 4 cent premium over the last month. And there is a decent lead time when considering what is to come for the rest of this year. Just my opinion.


----------



## vert (24 May 2007)

*Re: MGO - Marengo Mining*

was wondering if anyone has done a comparison to cdu yet? im no where near expericed enough to work it out but from reading through ann re:cdu all morning, basically cdu have better grades low tonnes and mgo have lower grades huge tonnage. which is better ? if mgo should the sp reflect that a bit higher seeing cdu is 3.30 and has been alot higher.


----------



## chicken8 (24 May 2007)

*Re: MGO - Marengo Mining*

mgo broke my heart

is it just me or does 42c seem a bit too low for mgo right now?

whats everyones predictions for the upcoming week? will mgo go up to the high 40s low 50s mark again?


----------



## Sean K (24 May 2007)

*Re: MGO - Marengo Mining*



chicken8 said:


> mgo broke my heart
> 
> is it just me or does 42c seem a bit too low for mgo right now?
> 
> whats everyones predictions for the upcoming week? will mgo go up to the high 40s low 50s mark again?



Chicken8, we don't do 'predictions' at ASF. We call it a valuation, or price target. No one should be giving any 'predictions' here. Please, anyone coming up with a price target, attempt some FA or TA to justify your price. Thanks!


----------



## Ruprect (28 May 2007)

*Re: MGO - Marengo Mining*

Nice little mention in The Australian on the weekend. MGO retreated Thursday and Friday, probably some profit takers and no doubt a reaction to the decline in global markets and commodity prices. The confidence on Wall Street on Friday in addition to the recovery in commodities should prove positive for MGO. I would think a slow steady rise should be in order for Marengo, with the pre feasibility next month, followed by bankable and listing in Toronto and London later in the year. And im quietly expecting yet another upgrade this year.

*Marengo upgrades * (The Australian 26 May)

GIVEN that Marengo Mining (MGO) has claimed its Yandera project in Papua New Guinea is the biggest copper-molybdenum porphyry system in the southwest Pacific, a resource upgrade of some 78 per cent shouldn't come as a shock given the early stages of the resource definition. Marengo has improved the inferred and indicated resource out to 660 million tonnes with a 0.48 per cent copper equivalent using a 0.3 per cent copper equivalent cut-off grade. It comes after a 40km diamond drill campaign last year, but also uses data from BHP Billiton and Kennecott, which had previously worked the Yandera region. Importantly, most of the resource was upgraded from the identified inventory into the inferred resource category. The resource calculation gives the project 4.5 billion pounds of copper and 180 million pounds of molybdenum. The Yandera structure contains eight discrete zones.


----------



## chicken8 (28 May 2007)

*Re: MGO - Marengo Mining*

can someone please explain why Marengo is at 33.5c at the moment?

i can't work it out. how undervalued is this share?

your thoughts?


----------



## Pat (28 May 2007)

*Re: MGO - Marengo Mining*



chicken8 said:


> can someone please explain why Marengo is at 33.5c at the moment?
> 
> i can't work it out. how undervalued is this share?
> 
> your thoughts?




Well, You'll always great opportunities to buy and sell, this could be one of those. 
IMO it was screaming buy at 33.5 cents, now no sellers under 37 cents. Might just bounce and make you smile chicken8. I wish I had some spare cash left.


----------



## chicken8 (28 May 2007)

*Re: MGO - Marengo Mining*

even at 34.5c at closing today it would be a good buy

this price is lower than the sp the day that MGO got halted pending an announcement a week ago.

hard to imagine that the sp now, after a favorable announcement, is lower than the sp prior to the announcement


----------



## Ruprect (28 May 2007)

*Re: MGO - Marengo Mining*

No, it doesnt make a lot of sense, but then again, the market often doesnt! 

Funny that the announcement came in well above expectations, 660mt instead of 500mt yet the sp falls. 

They have an inground resource valued around $28 billion. At least. And that doesnt include gold! With a further upgrade, this will push into the $30+ billion zone. It would be a major challenge to find another resource as massive as this.

Hold for a while imo, this should come good again. Ive topped up on options with whatever cash i could find. Its a punt, but i think a calculated one.


----------



## chicken8 (28 May 2007)

*Re: MGO - Marengo Mining*

the resource upgrade was based on the october report from 06

the sp was 27c at the time

so even if you worked out 27c + the 78% increase you get 48c


----------



## chicken8 (28 May 2007)

*Re: MGO - Marengo Mining*

i know this isn't how you're meant to calculate it

but watching the sp drop 5% a day for the last 5 days has been depressing


----------



## Pat (28 May 2007)

*Re: MGO - Marengo Mining*



chicken8 said:


> i know this isn't how you're meant to calculate it
> 
> but watching the sp drop 5% a day for the last 5 days has been depressing




You gotta set that emotion aside chicken8.
If your long term these are the bumps in the road that make trading exciting. Is MGO a buy to you chicken8? If so, why not top up? It's as if your buying now, perhaps you'll average down intime for the next leg up?


----------



## chicken8 (28 May 2007)

*Re: MGO - Marengo Mining*

no funds left

need to sell some other stocks to be able to buy more MGO

but anything under 40c is really tempting


----------



## chicken8 (8 June 2007)

*Re: MGO - Marengo Mining*

been really quiet here in the MGO thread

anyone got any fresh new information or any important upcoming dates?


----------



## Ruprect (8 June 2007)

*Re: MGO - Marengo Mining*



chicken8 said:


> been really quiet here in the MGO thread
> 
> anyone got any fresh new information or any important upcoming dates?




G'day Chicken, yes a bit quiet, just holding firm on this one for the long term. 

The next big thing we can look forward to here is the completion of the pre feasibility study, which should be at the end of this month - we will see an announcement soon after that with results.

Then, for the rest of this year i would expect that we will see firstly some more indication of drilling to expand the resource. MGO are already sitting on $28 billion in situ, minus gold and rhenium. As they claim, it is the biggest copper resource in the southern hemisphere.

The directors have indicated already that they are expecting the resource to be even bigger. So i would expect an announcement on a further upgrade probably heading towards the end of the first quarter, early second.

Then towards the end of the second, we will probably see a listing on the AIM or TSX. I personally hope and actually expect TSX, much better prospects there imo.

After that is completed, a move will be made to proceed with the bankable feasibility study. 

Those last 2 are what will really drive the sp imo.

Re news, i did note in the Saturday Fin Review that Marengo might be a prime target for Chinese interests interested in Copper. It came as part of a broader article on the Chinese moves to aquire interests in australian resource companies, so the marengo issue might have been missed by many.

So, while the previous schedule looks good for MGO for the rest of this year, if the Chinese or any other major makes a play for MGO, this could come very good in the short term, much like CFE. All depends on whether the directors are open to selling off. As far as i can see, these guys look like the real deal, and wouldnt mind at all developing this. And i dont mind saying it, im very impressed with them. 

(And chicken, i grew up in sth hurstville, in melb now, but good to find a local!)


----------



## UPKA (8 June 2007)

*Re: MGO - Marengo Mining*

there's an interesting read in today's SMH posted by Mick in the FNT thread, related to MGO as well, 

http://www.smh.com.au/news/business/newcrest-may-cut-the-hedge-for-15b/2007/06/07/1181089236141.html

*"One of those additional growth opportunities is the acquisition of a mystery gold/copper property in the Pacific Rim, first alluded to by Mr Smith in August last year.

It's just been a longer negotiation than a lot of people expected. I can assure you that we are putting all efforts into concluding that discussion. It is just a little too sensitive just at the moment to talk about any details," Mr Smith said of the mystery property.

Analysts assume the property is an advanced but overlooked gold/copper orebody to which Newcrest can apply its skill base as the operator of large-scale, low-grade operations."*

this certainly looks interesting.


----------



## sandra (8 June 2007)

*Re: MGO - Marengo Mining*

UPKA
       This may be of interest you,(www.news.com.au/heraldsun/business(newcrest mining is negotiating to take controlling stake in fijian copper and gold project worth more than 1.5 billion) Also just got off phone talking to company secretary of marengo, was told pre feasibility study should be released in 2weeks hope this helps


----------



## geminidreams (8 June 2007)

*Re: MGO - Marengo Mining*

I just read their web site. They are claiming one of the biggest copper deposits in the south west pacific (pretty localised claim).

500m tonnes @ 0.48% inferred is OK but not bonanza stuff. To exploit properly would need $1.5 to $2b. 

Its a long way until you will see this project generating revenue. Probably the next bull market. Only real prospect is a takeover as even with a major JV it would be years to see revenue.

I read so many situations like this on these boards. In ground value means nothing if you dont have a mine or plant to produce revenue. The lead time on this will mean that 100 more advanced projects will come on line before this one and the in ground value will be a quarter of what it is now.


----------



## UPKA (8 June 2007)

*Re: MGO - Marengo Mining*

thanks for the info guys, the MD didnt think they need to bring the "big boys" in to start off the project, so they r pretty confident they can get enuf capital to get things started. plus there's a chinese nickel project abt 40km from Yandera, and a power station is near by, so the infrastruture is there, what they need now is to complete teh BFS, and hopefully get listed on TSE to rise some more capital. 

the SP has dived abit since the last ann, bt not trading in big volumes, so js holders who arent prepared to wait anymore. even if the project will take a while be4 seeing them digging anything out, the SP is still trading at a heavily discounted price, so im still very confident in this stock.


----------



## Danash (9 June 2007)

*Re: MGO - Marengo Mining*

Geminidreams

Whilst you may believe that the long held belief of Yandera having the potential to be one of the largest copper deposits in the South West Pacific is a (pretty localised claim), consider it in light of the Grasberg deposit located in the province of Papua, which contains the largest single copper reserve and the largest single gold reserve of any mine in the world. Not a bad compaison in my view.

Some other incorrect statements:

"500m tonnes @ 0.48% inferred is OK but not bonanza stuff". 

Infact Yandera has 660mil tonnes @.48% with a substantial mineral inventory yet to be converted to the JORC resource. Potential to be multi billion tonne deposit as stated by MD in recent presentation.

"To exploit properly would need $1.5 to $2b" 

More looking at 750mil -1 bil. Rio Blanco in Peru will cost 1.4bil and they are 200km inland @2500m-3000m above sea level with no infrastructure. Yandera will have associated infrastructure with Ramu Nickel 20km to the north with government provided hydro-electric power supply being built by PNG government. Also only at 1700m above sea level with surface mineralisation so a very low strip ratio.

Which ever way one looks at it a market cap of only 40 odd mill has MGO extremely undervalued compared to it's peers.


----------



## geminidreams (9 June 2007)

*Re: MGO - Marengo Mining*

Danash

My point precisely it is a minnow compared to Grasberg.

Telfer cost $1.5b to construct a 20m tonne/annum plant and today it would probably cost another couple of hundred million. I have recently reviewed a copper gold project at 4 million tonnes per annum that will start construction next year at a cost of $500m with good infrastructure near it.

At 20 mta this project would produce 80,000 tonnes of copper per annum (maybe a bit more if they can high grade the first couple of years) which is about half of Mt Isa's output which is also in the region stated.

If I tried hard I could probably find 40 or 50 bigger copper projects.

Im not saying the resource does not have value I am saying it will need a lot of capital and support to get up. There is obviously a lot of heat in the current market and people need to look at these projects with a bit of realism. A $40m cap company is going to struggle to finance $1.5b and with engineering and construction it is probably 5 years before there is any revenue with a lot of uncertainty regarding price of copper in the ensuing years.

There doesnt appear to be a lot of consideration of these issues in valuations at the moment, I thought I would just raise them. The stock may indeed perform well ..... until the bull market finishes and value goes back to production fundamentals.

For those who really want to make safe money on these situations wait until finance has been raised, the plant is about 4-6 months from completion and buy for an 18 month hold. Typically management focuses on the development, there is little exploration or other news so nothing to excite traders and people will lose interest. Once the mine is up and running and generating cash flow and profit, investors come in and rerate the stock, assuming management havent made a big stuff up and the mine is a dog.

Or do your own thing!


----------



## Ruprect (10 June 2007)

*Re: MGO - Marengo Mining*

I hate to say it Gemini, but going by your approach, we shouldnt invest in any explorer until they are ready to become a producer. Thus, we wouldnt buy fortescue for 8 cents, we'd wait until they completed fund raising and pay 100 or more times that amount. 

There are plenty of decent explorers out there, but we all understand that they are speculative stocks, and we all understand that with any explorer, there is a long lead time from defining a resource to actually producing. The market cap of explorers reflects that fact.

Its just my opinion that MGO are undervalued, based on the size of the resource. I dont think you can put a final price on the cost of developing the mine, although 2 billion sounds very high. Either way, that is what a bankable feasibility study will work out. And they are moving to that towards the end of the year. But you need to remember that its whether the resource can be extracted economically, that depends on a variety of factors, mine cost only one of them.

Les Emery is not averse to selling MGO off, but has repeatedly said that he wants to provide value for shareholders, so they will take it as far as possible, and further define the resource. Its so far 660mt, Copper/Moly, with gold and rhenium excluded from the figure. And its about half JORC defined/half inferred. That will be updated, and the resource expanded. I would expect that MGO would finally be trying to define a 1 billion tonne resource.

As stated by the Fin Review last week, Marengo could well become a target for Chinese companies looking at acquisitions. 

Thats not to say that they couldnt go it alone, plenty of explorers make it to producers. They obviously dont come up with the money to develop the mine themselves, thats what financing is for.


----------



## arkady (13 June 2007)

*Re: MGO - Marengo Mining*

What would the share value be based on the current resource, construction/production costs etc (called NPV??) ?


----------



## geminidreams (13 June 2007)

*Re: MGO - Marengo Mining*

Its been a while since I seriously looked at resource stocks even though I am a resource industry professional. Divorce is impoverishing and not living in Australia I havent kept up with the latest happenings until one of the dogs I have been holding went up about 10 times in the last couple of months.

I have stumbled onto this forum which I think is a great tool for people as long as they dont get too emotionally attached to their holdings.

I have used it to see what is attracting people about stocks and looking up the projects and management on the company websites which I did for this stock.

I dont offer an opinion on whether it is undervalued or overvalued. I happened to comment on it because I kept reading similar threads where people are valuing stocks on inground resources.

The reality is that unless someone comes in and buys the stock (Chinese or others) it is a very long wait before cash will dribble down into shareholders pockets.

Bankable feasibility towards year end, 2 years for design and financing (with probably substantial equity dilution) 2 years for construction, then commissioning and ramp up. No revenue for 5 - 6 years. Dividends probably 8 - 9 years.

Will the copper price be as high, do the current holders have this sort of patience? What risk discount is appropriate? For those that remember, Alumbrerra cost overruns and indifferent startup performance really hurt MIM back in 1998, I know I hurt badly from it.

As for Fortesque I remember Anaconda, the hype surrounding it and the technical risks that people were overlooking. I watched Twiggy bail out, the operation almost going bankrupt even with Anglo American and Glencore as major backers, the junk bond holders take a bath and the company be rescued by a resugent nickel price. Would I buy Fortescue? Nope!

For those who want to look at what this stock will take have a look at Ivanhoe Mines. Friedland tried flogging this for about 4 years until RTZ took their stake. Oyu Tolgoi is a much bigger resource with excellent high grades for the early mining years enhancing cash flow. For a 27m tonne per annum operation capex is estimated at $US1.15b which equates to about $A1.5b.

See http://www.ivanhoe-mines.com/i/pdf/2005-09-29_NR.pdf which provides an idea of what their NPV is for various scenarios. Proven and probable reserves of 1.15b tonnes at 1.27% Cu and 0.48 g/t Au with indicated 1.44b tonnes at 1.11% Cu and 0.28 g/t Au.


----------



## arkady (14 June 2007)

*Re: MGO - Marengo Mining*

I suppose if every mining company decided that it would take too long and be too expensive to startup a mining operation then we wouldn't have any gold, copper, nickel, iron, coal etc etc...........

Once the first week of July comes we should have a more in-depth information base as the Pre-Feasibility study is released. They are continuing drilling so further increases in resources would make mining Yandera more viable.

They also have the Bolubolu Gold project that may bring some good results this quarter.


----------



## geminidreams (14 June 2007)

*Re: MGO - Marengo Mining*

Of course if you are a miner with substantial cash flow you will finance a project of this size.

If you are an explorer you would normally bring in a JV partner. It is very rare for a project of this size to be brought on line without an experienced partner even though it is nominally quite a simple project. 

Most smaller operators/explorer will look for projects they could bring on line for low capital requirements or bring in JV partners early into a project.

If you look at an explorer like Jabiru who are commissioning a project now that is small but high value it has been done by raising a lot of equity of the last two years with some finance.

The question for holders of this and others that are similar is what is the end game and how will it affect the companys value? Even though Jabiru has raised a lot of equity its share price has appreciated well as they are close to production and the project and revenue risk is lower.

Hopefully the directors of this company can provide similar value to the shareholders.


----------



## arkady (15 June 2007)

*Re: MGO - Marengo Mining*

It will definately be put back onto the shareholders for more funds over the years until the mine is online but if the resource is going to be as big as predicted by Les Emery (Director MGO) for a possible +1Billion Tonnes the share price should hold up. 

MGO is looking for 100% ownership and if they get strong investor support this is to be more likely.


----------



## arkady (18 June 2007)

*Re: MGO - Marengo Mining*

I'm comparing MGO to FNT and seems like MGO is undervalued. Even after FNT settles down it should be around 15-16 cents. MGO has 3 times the in ground resource value of FNT (MGO $29 Billion vs FNT $9 Billion) yet is only 36 cents today!!???


----------



## Pommiegranite (18 June 2007)

*Re: MGO - Marengo Mining*



arkady said:


> I'm comparing MGO to FNT and seems like MGO is undervalued. Even after FNT settles down it should be around 15-16 cents. MGO has 3 times the in ground resource value of FNT (MGO $29 Billion vs FNT $9 Billion) yet is only 36 cents today!!???





RULE 1 : please compare market caps and not share prices.


2 different stocks altogether..chalk and cheese.


----------



## Ruprect (18 June 2007)

*Re: MGO - Marengo Mining*

Market Cap comparison - MGO - $45 million - FNT - $26 Million

I actually think they have a lot of similarities. Both Copper/Moly/Gold or Copper/Gold/Moly, and at similar grades. And both exploring in PNG. 

MGO has a much larger indicated/inferred resource than FNT, but much more work has been done on the Yanderra site, due to historical drilling by numerous companies including BHP. FNT has increased its resource at Kodu today, with more updates this year. 

MGO are slightly ahead of FNT, with a pre feas due end of this month. FNT wont be too far behind imo.

I actually think they are both undervalued given the increasing demand of both copper and moly. Its all dependent on economic extraction. But in the short term, the in situ resource is extremely large for both MGO and FNT, with further resource upgrades this year for both companies. And both the Chinese and South Koreans are looking to secure long term supplies, adding to the potential for takeover/JV.

Note - I hold both.


----------



## camaybay (18 June 2007)

*Re: MGO - Marengo Mining*

From past experiences can someone outline what the possible outcome could be with a positive prefeasability report. It is a step in the develpoment equasion but does it really fire things up or become a part of process?
Cheers


----------



## calais (18 June 2007)

*Re: MGO - Marengo Mining*

l hope mgo does not end up like url scenario. Don't own any shares currently mgo is on my buy list and prefer mgo over fnt because closer to production.


----------



## arkady (19 June 2007)

*Re: MGO - Marengo Mining*

I'm not sure if the pre feasibility will make a difference on the share price. Perhaps Ruprect or Kennas might know. As long as it allows MGO to move onto the next step which is the Feasibility Study. Perhaps they will release an updated resource figure a the same time. Also they might make a start on the bolubolu gold project.


----------



## Ruprect (19 June 2007)

*Re: MGO - Marengo Mining*



arkady said:


> I'm not sure if the pre feasibility will make a difference on the share price. Perhaps Ruprect or Kennas might know. As long as it allows MGO to move onto the next step which is the Feasibility Study. Perhaps they will release an updated resource figure a the same time. Also they might make a start on the bolubolu gold project.




A completed pre feas should be good news for MGO, and it has good potential to have a positive affect on the share price. Im not sure if we will get an updated resource at that time, although i do expect one in the not to distant future, with an upgrade as well as movement of more resource from inferred to indicated. 

I think what we have seen with FNT in the last couple of days is that people, and a lot of traders, are warming to the PNG story. 

The size of the resource, $28 billion in situ, in conjuction with completion of pre feas, updated resource this year, listing on AIM or TSX and move toward bankable feas early next year should all help to create a re rating in the medium term for MGO.

In addition, the extensive appetite for base metals by the chinese and now south koreans might lead to speculation of an aquistion. This has already been referred to in the Fin Review regarding MGO.


----------



## arkady (19 June 2007)

*Re: MGO - Marengo Mining*

I wonder if it's neighbour China Metallurgical Construction Corp at the Ramu prospect will come into the picture? Not sure how much money they have left as they are constructing the mine atm. Also not sure if Highland Pacific are paying for any of it.


----------



## Duckman#72 (24 June 2007)

*Re: MGO - Marengo Mining*



sandra said:


> UPKA
> This may be of interest you,(www.news.com.au/heraldsun/business(newcrest mining is negotiating to take controlling stake in fijian copper and gold project worth more than 1.5 billion) Also just got off phone talking to company secretary of marengo, was told pre feasibility study should be released in 2weeks hope this helps




I guess this should be approaching soon. Hopefully before 30 June - rose again to 38c after spending time at 34-35c for much of the past 2 weeks.

Cheers

Duckman


----------



## Ruprect (29 June 2007)

*Re: MGO - Marengo Mining*

Thought id get this one going again.

After consolidating around the 33-34c mark, the sp has steadily increased in the last 2 weeks, on relatively light volume. 

The pre feasibility study should be out very soon, MGO had suggested mid year which is now, and they have been very good at keeping the market informed in the past.

The sell side is very thin and buyers are growing. If the pre feas is good, we could see some fast movement here as we move toward bankable feas and listing on TSX or AIM. Keep in mind the massive in situ JORC indicated and inferred resource, closing on $30 billion AUD.


----------



## Duckman#72 (29 June 2007)

*Re: MGO - Marengo Mining*



Ruprect said:


> Thought id get this one going again.
> 
> After consolidating around the 33-34c mark, the sp has steadily increased in the last 2 weeks, on relatively light volume.
> 
> ...




Yes - I've been waiting and watching this one keenly. 

Hopefully the announcement will be through soon.

Duckman


----------



## Ruprect (29 June 2007)

*Re: MGO - Marengo Mining*

Nice move up late in the day for MGO and MGOO, including at close. Some reasonably good orders went through pushing MGO up to the 40cent mark again. Could be a very good sign.


----------



## UPKA (29 June 2007)

*Re: MGO - Marengo Mining*

I think its about their application to be listed in North America, most likely to be on TSX, and their PFS and quaterly report is also due soon, so plenty of news (good or bad) coming up!


----------



## Spaghetti (2 July 2007)

*Re: MGO - Marengo Mining*

Marengo Mining has moved today up 8.75%. I hold some for while, was considering selling as nothng much was happening.


----------



## Ruprect (2 July 2007)

*Re: MGO - Marengo Mining*



Spaghetti said:


> Marengo Mining has moved today up 8.75%. I hold some for while, was considering selling as nothng much was happening.




yeah, its a nice move, albeit on low volume. But its hitting the mark of where it was pre announcement. Theres not a huge amount of sellers leading up to the 50c mark, and i wouldnt think they would last long with a good pre feas announcement, which cant be very far away at all. Still trying to get my head around the fact that MGO is only a 50mil market cap with an in situ resource closing on $30 billion aud.

Options here (MGOO) look to be a very good opportunity today, trading at a 3c discount to the heads. Should really be the other way around. (20c ex, Feb 08)


----------



## countryboy (3 July 2007)

*Re: MGO - Marengo Mining*

Marengo's value doesn't surprise me. Add up the capital costs of mining this resource- railwayline across mountains, port facilities , labour- most of the technical admin will be sourced from OS and given its location they will have to pay very well and house them in a very secure compound, environmental issues (Ok tedi) and the list goes on. It will take a good sized midcap miner to get this going and to be able to raise the funds required. Then there is the time required to get this all in place. I'm sure this has been discussed before but we are loooking at billions not millions to get this going
add it up invest - now and wait until 2010-12 before you see a dividend.

day traders they can come and go on this stock. recom-buy a small position as they say and put it in the bottom draw


----------



## Ruprect (9 July 2007)

*Re: MGO - Marengo Mining*

Announcement out after close today. $12.5million capital raising, specifically targetted at north american investors. Will be issuing a prospectus in Canada later in the year for a probable listing on TSX. Good news. I note that the placement will close on August 1, and will be priced "in the context of the market". With the pre feas out soon, we might see a re rating here very soon, leading to a lot less dilution than at current prices.

_Marengo Mining Limited (ASX: MGO) (“Marengo” or the “Company”) is pleased to announce that it will move to raise up to A$12.5 million, by placing new fully paid ordinary shares. Marengo has engaged Paradigm Capital Inc. (“Paradigm”) of Toronto, Canada to arrange to place a portion of these shares with North American investors.

The placement will be on a best efforts basis to investors and will be priced in the context of the market.

The equity raising is being made to North American and other international, institutional investors, and in addition to Australian investors. The introduction of these overseas investors to the Company’s share register at this time is expected to facilitate interest in Marengo ahead of a planned prospectus filing in Canada later in 2007, for which Marengo is also pleased to announce that Paradigm has been engaged to act as the Company’s exclusive lead agent.

A General Meeting is to be held on or around 22 August 2007 at which Marengo will seek approval from its shareholders to issue that part of the placement that exceeds the 15% maximum automatically available to Marengo under Australian Securities Exchange Listing Rules.

The placement is expected to close on or around August 1st and funds raised will be used to advance work at the Company’s 100% owned Yandera copper-molybdenum project in Papua New Guinea, and for general corporate purposes._


----------



## chicken8 (9 July 2007)

*Re: MGO - Marengo Mining*

Ruprect. thanks for the post

i didn't check after closing today

can you tell me what this all means in terms of sp for the company?

because the capital raising is to be done in another market i'm guessing this will not cause the ASX MGO sp to go south?

please correct me if im mistaken


----------



## Ruprect (9 July 2007)

*Re: MGO - Marengo Mining*

No worries. 

The first capital raising, the 12.5 mil placement will be on the ASX. So if we consider 12.5million x around .40c per share, we could expect another 31,250,000 shares added to MGO. Thats the worse case scenario, based on full subscription at a price around 40c. I expect it to be fully subscribed, but if a re rating occurs in the next few weeks with a pre feas, we could be talking about a lot less of a dilution because of higher sp. Either way, with only 127m shares currently on offer, the first scenario it would take it up to only about 158m. 

Now because it is a share placement designed specifically to advance work at the Yanderra project, it shouldnt have a downward affect on the sp at all. This is because there is a direct benefit in the short term. Market Cap increases, but so does cash at hand for a purpose, at about the same amount. I guess we need to take into account that MGO had about 9mil in the bank as at their 3rd quarterly, this would take them over 20mil. *Therefore, this money is enough to aggressively pursue the Yanderra project. Thus, we might be right in assuming that the pre feas is good.* 

Therefore, the placement is not to be used mainly for ongoing operations of the company, but rather to pursue their project. 

The TSX listing later in the year, will raise funds, likely in line with the sp on the ASX, but the prospectus will indicate that the funds will be used for a bankable feasibility. 

Without a JV partner, these are the steps that a small producer has to complete to make the moves toward production. 

Therefore, a dilution in both these instances can only have a positive affect on the sp in the long term imo.


----------



## Duckman#72 (9 July 2007)

*Re: MGO - Marengo Mining*

Thanks for that summary and your thoughts Ruprect. 

The pre-feasibility results are much anticipated ....and yes, I agree that things are looking very promising.


----------



## Duckman#72 (16 July 2007)

*Re: MGO - Marengo Mining*

Hi All

In the latest Eureka Report, financial reporter Tim Treadgold made positive mention of Marengo. The subtitle of his article was - *If the big boys tie up the aluminium game, the smart money will look to copper and iron ore.* Obviously referring to BHP and RIO. 

At the very end of his piece he writes:

"it would be a wise investor who dusts off their files on stocks that offer these attributes:

Direct exposure to existing copper and iron ore assets or,
Large undeveloped resources in the ground that bigger companies want to buy"

He then proceeds to mention Equinox, Anvil, Aditya Birla before adding...

"Further down the food chain, but with big undeveloped copper resources, are stocks such as Marengo Mining, an often overlooked explorer with its foot in the world class Yandera copper project in PNG."

Nothing we didn't know but good to see that it is getting some coverage all the same.

Cheers 

Duckman


----------



## UPKA (16 July 2007)

*Re: MGO - Marengo Mining*

Thanks for the update duckman. I think the only time for ppl to take notice on MGO is when they r close to production or put a $$ figure on their production. ur average investors wouldnt have a clue how big their potential is, and BHP dont seem to be interested in the area, because they did explore the same area 20yrs ago, so they know that there r minerals there.


----------



## Danash (17 July 2007)

*Re: MGO - Marengo Mining*

Exciting article especially the quote "To put Yandera into perspective, output at that rate (100,000 tonnes of copper) would make it one of the world’s biggest copper mines, not just one of the biggest in Australia or PNG.

Still extremely undervalued - bring on the rest of the week.

Marengo Mining Gets Set To Unveil Its Yandera Feasibility


By Our Man In Oz



Les Emery is the first admit that he has got a tiger by the tail. But, he’s also in no doubt that he can tame the tiger which is the potentially giant Yandera copper project in Papua New Guinea. If all goes to plan, Marengo Mining, the small Australian-based company which Emery runs, will convert Yandera from a concept in the remote and rugged highlands of PNG into a mine producing 100,000 tonnes of copper a year. To put Yandera into perspective, output at that rate would make it one of the world’s biggest copper mines, not just one of the biggest in Australia or PNG. In about a week, Marengo will be saying a lot more about its plans for Yandera with the release of a keenly-awaited pre-feasibility study.
When Minesite caught up with Emery in his Perth office earlier this week he was quietly confident, but also very frank in discussing that challenge which lies ahead. “We know it’s a big project,” he said. “And we know what people mean they say it’s too big for Marengo. But our answer to that is that it might be too big for the Marengo you see today, but not too big for the one we’re growing.” 

Investors, who had been cautious in their treatment of Marengo over the past year are slowly returning to the stock. Between late April and late May Marengo was a star, more than doubling in price from A26 cents on April 26 to A52.5 cents on May 23. Since hitting that 12-month price high Marengo has eased back but at A40 cents the company is only capitalised at an unchallenging A$50 million. 

The next test, will come in the third week of July, the time nominated by Emery as the release date of the pre-feasibility study. With the big event so close he was naturally hesitant to give too much away to Minesite. However, he did say that all of the numbers were in, and the job at hand now was “writing up” the document. “The numbers look good,” he said. “And we’ve been pretty rigorous with our copper and molybdenum price assumptions. Copper has been factored in at US$1.50 a pounds (versus the current price of around US$3.60). We’ve made a similar cut in the price of moly which is shaping as a very valuable by-product for the development.” 

Questions such as the likely capital cost are taken on notice by Emery, but it’s unlikely that a mine based on a Joint Ore Reserves Committee (JORC) resource of a whopping 660 million tonnes assaying 0.48 per cent of copper equivalent (copper and moly) is going to be developed for less than US$1 billion. To hit the production target of 100,000 tonnes of copper a year implies a massive mining and processing operation of low-grade material. All that Emery is prepared to say ahead of the release of the study is that Marengo has been busy recruiting staff, and that the earliest likely production start-up is 2011, or 2012. “It will be a big development, but we are talking about a project which will have a start-up life of at least 10 years, and more than likely last 20-to-30 years,” he said. 

While the numbers are crunched in Emery’s office work at site is accelerating, and plans laid for future fund raising, most probably in North America rather than London – continuing a trend by Australian miners to by-pass the U.K. “We’ve got two rigs on site now, a third on the way, and perhaps one more to come,” he said. “The results we’re obtaining continue to justify our enthusiasm for the project.” Just how big Yandera is already (and remember it’s virtually certain to continue growing) is shown in the 660 million tonnes of 0.48 per cent material but, more importantly, in the fact that when boiled down all that dirt contains 2.9 million tonnes, or 6.3 billion pounds, of copper – a 78 per cent boost on the previous resource estimate. 

As no-one doubts that Yandera contains a big pile of copper the next step for Marengo will be funding, and that almost certainly means Emery will be spending much of the rest of 2007 in Canada and the U.S. “The level of interest in London has waned,” he said. “There is a small group of active institutional investors, and you can raise the money you need in London, but you really don’t create a new market for the stock. Certainly, there’s no retail component, whereas in Canada you’ve got the best of both worlds. Very deep institutional pockets and a broad retail market.” 

Emery’s view is that London hasn’t gone cold on mining, just going through a cool patch. “They’ve had few problems with questionable companies working in Eastern Europe and other difficult places,” he said. “The other problem is that there really aren’t many analysts following the sector. You can probably count the number of minig analysts in London on one hand, whereas in Toronto alone I’m told there are 65 resource analysts, which is more than the whole of Australia.”


----------



## Trader Paul (19 July 2007)

*Re: MGO - Marengo Mining*



Hi folks,

MGO ... will be alert for a positive spotlight on Marengo,
around 19-20072007, as a significant and positive time
cycle comes into play ... 

happy days

  paul



=====


----------



## Ruprect (25 July 2007)

*Re: MGO - Marengo Mining*

The next few days should be expected to produce some news for MGO. 

Firstly, the Pre Feas has been scheduled to be finalised by the end of July. MGO have been excellent at sticking to their timelines, and previous reports suggeted Les Emery has been busy compling results.

Secondly, we should see the 4th qtr activites/cashflow reports out by the 31st. Every quarterly report that MGO has produced in the last 2 years has come out on time, on the last day of the month. So thats next Tuesday. 

Saw some very good movement in the sp yesterday, pulled back today before recovering on limited volume. Obviously not a big buying day for some, but not a lot of sellers here either.

Waiting patiently....


----------



## Ruprect (27 July 2007)

*Re: MGO - Marengo Mining*

Pre Feas/Conceptual Mining Study results just announced. 

Has found the project to be economic, will now move to Bankable Feas Study. Good news.

From the announcement:

Summary
Key outcomes of the Yandera Project CMS include:
•
a conceptual open pit encompassing 406Mt to underpin an initial 10-year mine life;
•
initial mining rate of 25Mtpa for the first two years increasing to 40Mtpa;
•
production of 112,000t and 88,000t of contained copper for the first two years, increasing to an average of 124,000tpa from the third year onwards.
•
production of 4,200t of contained molybdenum for the first two years, increasing to an average of 6,700tpa from year three onwards.
•
initial US$942M capital cost estimate with additional US$198M to complete the ramp-up to 40Mtpa;
•
forecast cash operating costs of US$10.09/tonne (US$0.75/lb) for the first two years, and US$9.09/tonne (US$0.86/lb) at 40Mtpa;
•
strong economic parameters using a copper price of US$1.50/lb and a molybdenum price of US$15.00/lb.
The CMS has confirmed the potential of the Yandera Project to become a very significant strategic source of copper and molybdenum production in global terms, with a successful development expected to generate substantial value for Marengo shareholders and the nation of PNG.


----------



## Morgan (27 July 2007)

*Re: MGO - Marengo Mining*

Great timing on that announcement Marengo- I'm sure you waited until I got stopped out at 36c this morning!   :swear:


----------



## Pommiegranite (27 July 2007)

*Re: MGO - Marengo Mining*



Ruprect said:


> Pre Feas/Conceptual Mining Study results just announced.
> 
> Has found the project to be economic, will now move to Bankable Feas Study. Good news.
> 
> ...




Just out of interest, do you know why it will take Marengo another 2 years to complete the BFS? 

Cheeeeers


----------



## UPKA (27 July 2007)

*Re: MGO - Marengo Mining*

certainly good news, the options look cheap atm compared to heads, give it few days, it'll pop up over the news headlines, then we'll see some serious SP movements!

Ok, i have js finished reading it, the capital cost is huge tho, bt their estimate first production time is within 4 yrs, which i think will take up to 5-6yrs in reality, as there will be obsticles. what we need now is the listing on TSX, to gain more exposure to overseaas investors.


----------



## PBH (27 July 2007)

*Re: MGO - Marengo Mining*



UPKA said:


> give it few days, it'll pop up over the news headlines, then we'll see some serious SP movements!




Hmmm..... I think many investors will still be trying to get their heads around that huge US$942M figure, and wondering how realistic the prospect really is of being able to raise this amount.

On the other hand; all Marengo has to do is issue 2.85 billion shares @ 0.37... piece of cake...


----------



## Ruprect (7 September 2007)

*Re: MGO - Marengo Mining*

Anyone else still following MGO?

These guys are still working away, increasing the resource. Very good announcement out today. I still think this one is a very good long term hold, with a massive resource and excellent management. 

_Rock chip and float samples from satellite prospects at Marengo Mining
Limited’s 100% owned Yandera Project (Papua New Guinea) have produced
significant gold, silver and base metal assays, including;
• 12.1% Copper
• 3.76% Zinc
• 0.79% Lead
• 0.83% Molybdenum
• 271g/t Silver
• 19.1g/t Gold_


----------



## Ruprect (10 September 2007)

*Re: MGO - Marengo Mining*

Spec buy recommendation in the Oz today from DJ Carmichael.

_Marengo Mining (MGO)
DJ Carmichael 
Speculative Buy recommendation 
12-month price target of 45c 

IT doesn't come much bigger than the Yandera copper-molybdenum project that Marengo owns outright in Madang Province, Papua New Guinea. Marengo's most recent resource statement for the project says it weighed in at 661.3 million tonnes, at a 0.48 per cent copper equivalent grading. As things sit at the moment, Marengo is raising money so it can complete a bankable feasibility study for the massive porphyry Yandera system which could cost up to $15 million and would build on a Conceptual Mining Study. "All we can say about the project at this early stage is that we agree with Marengo in that commitment to undertake a bankable feasibility study at this stage is warranted," DJ Carmichael head of research Paul Adams wrote late August. DJ has also done its own assessment of the CMS and notes that Yandera could be a "significant producer" based on a 10-year mine life. Marengo is looking at ways of reducing capital costs. But much of the projects financials depend heavily on the pricing of both copper and molybdenum. _


----------



## Trader Paul (16 January 2008)

*Re: MGO - Marengo Mining*



Hi folks,

MGO ..... looking for a serious low, over the next couple of days:

     17012008 ..... negative spotlight on MGO

     21012008 ..... minor and negative aspect

  15-18022008 ..... 2 significant and negative cycles

  19-20022008 ..... minor cycle

  10-12032008 ..... 2 cycles and minor news ???

     17032008 ..... positive spotlight on MGO ... 

  01-03042008 ..... 2 cycles and positive news expected,
                    that may have long-term consequences.

have a great day

  paul



=====


----------



## Duckman#72 (24 April 2008)

*Re: MGO - Marengo Mining*

Hi Guys,

With the spotlight on PNG at the present it might be interesting to have a close look at MGO. PNG has been strong on pushing for its own financial independence particularly through taking advantage of its mineral deposits.

Now that the Png Govt has agreed to preserve the Kokoda trail and stop FNT in its tracks what will this mean for MGO?

As I understand it MGO's holdings are also very close to Kokoda (and has world class mineral levels). Could there be a bit of "give and take" between the respective Govts. "You scratch my back I'll scratch yours" that could lead to an accelerated move forward for MGO (either through financial assistance, untangling of red tape, workforce assistance and/or additional specialist machinery).

Maybe I'm just reading to much into it, but the MGO share price has risen from low 20's to about 27 over the past week or so (on small volume).

Maybe I'm dreaming.

Duckman


----------



## kirtdog (21 January 2009)

*Re: MGO - Marengo Mining*

Any news on MGO I bought a small parcel recently because I liked its balance sheet for a bit of a punt..


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## onshow (28 January 2009)

*Re: MGO - Marengo Mining*

as far as i know they are developing there inferstructure as planned and have found considerable amounts of materials, the feasability study with be finished and annouced late in 2009 with i have no doubt will push the share price up nicely


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## Sean K (17 April 2009)

*Re: MGO - Marengo Mining*

There are so many little resource companies with charts like this.

Would have loved to have had the vision to see all of these fantastic opportunities a couple of months ago.

Wonder when the bears get back in control?


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## kirtdog (17 April 2009)

*Re: MGO - Marengo Mining*

well i got in at 0.075, would be a good exit now for a bit of extra cash question is will it keep going up??? And will i get the opportunity to get in that cheap again??


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## onshow (19 April 2009)

*Re: MGO - Marengo Mining*

This is a great share to be in right now and at the price you bought at i deffenatly wouldnt be selling i have been buying up at every chance i had in the past 3 months ny average is about .06 cents now and very happy if that with the great out look of its long term future and when these feasibilty studies comes out later in the year im sure it will send the share price throgh he roof! ill be looking to pick some more up monday before it gets away from us totally! im a long term holder and with no debt and good cash in the bank i can see it going wrong!!


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## UPKA (19 April 2009)

*Re: MGO - Marengo Mining*



onshow said:


> when these feasibilty studies comes out later in the year im sure it will send the share price throgh he roof!




Anything to back up thisi claim? as far as I know, when their pre-feasibility study came out with capex of over 1.6b (if i remembered correctly), especially under the current economy condition it'll be hard to get funding or joint venture partners that has that sort of cash... BHP has once explored on the tenant before, pulled out due out due to the huge capex and low grade of the mine (higher production cost).


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## onshow (19 April 2009)

*Re: MGO - Marengo Mining*



UPKA said:


> Anything to back up thisi claim? as far as I know, when their pre-feasibility study came out with capex of over 1.6b (if i remembered correctly), especially under the current economy condition it'll be hard to get funding or joint venture partners that has that sort of cash... BHP has once explored on the tenant before, pulled out due out due to the huge capex and low grade of the mine (higher production cost).




since then they have found alot more in the ground then first expected and all the new drill holes still need to be reported! so expecting a good feasibility study to come out in my opinion! But please do your own reasearch !


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## onshow (19 April 2009)

*Re: MGO - Marengo Mining*



UPKA said:


> Anything to back up thisi claim? as far as I know, when their pre-feasibility study came out with capex of over 1.6b (if i remembered correctly), especially under the current economy condition it'll be hard to get funding or joint venture partners that has that sort of cash... BHP has once explored on the tenant before, pulled out due out due to the huge capex and low grade of the mine (higher production cost).



as for higher production costs that was due to the harsh terrain and poor access to these areas of interest which have now been rectafied


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## YOUNG_TRADER (3 September 2009)

*Re: MGO - Marengo Mining*

looks like it took a little over 2yrs for my valuation report to reach George Soro's  but he finally got it and after reading looks like he's decided to invest :


Glad to see this one getting off the ground with some major major backing now


Not holding but just watching with a smile on my face, good luck Marengo and god speed!



YOUNG_TRADER said:


> *MGO*​
> *
> Mkt Structure*
> *
> ...


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## UPKA (3 September 2009)

*Re: MGO - Marengo Mining*

good old MGO... remembering trading it a few yrs back. great fundermentals, but it will struggle due to the lack of funding for drilling and development. The company is still at infant stage, unless it gets a big miner's backing or get a farm-in partner, it'll be a difficult journey. HOWEVER, with George Soros backing it now, it certainly will attract a different kind of investors...


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## Vanquish (30 September 2010)

*Re: MGO - Marengo Mining*

Huge increase in Volume and SP up from .091 at the beginning of the month to a close of .175 today. Surprised this is the first post on MGO since 2009. Anyone else out there wondering what's next for them?


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## skivvy (30 September 2010)

*Re: MGO - Marengo Mining*

Yes vanquish, I took up a small position in mgo recently and had put it in the bottom drawer for a while until they get things moving.  Great resource deposit, feasability underway, it will take some cash from a raising or jv to get things moving, but looks like there has been some interest from the market in the last few weeks.


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## warrenatk (31 March 2011)

*Re: MGO - Marengo Mining*

here's Tim Treadgold from last Monday in the Eureka Report:

MGO: Decision time nears for Marengo Mining, a small Australian explorer sitting atop one of the world?s great copper deposits. Later this year management will flick the switch from exploration to development at its Yandera project in Papua New Guinea, a time when a significant re-rating of the stock can be expected.

Standing at a whopping 6.5 billion pounds of copper, plus gold, silver and molybdenum credits, Yandera is set to become one of the world?s biggest copper mines. Whether it is a mined owned by a minnow such as Marengo is the interesting question.

Over the past two years there has been a gathering of professional investors on the Marengo share register, including the man who ?broke the Bank of England? back in 1992, George Soros, who is sitting on a 19.9% stake in the stock, picking up the bulk of his stake at 9.5? a share in September, 2009. Marengo last traded at 28.5?. Another big shareholder is Sentient Group, with 26.7%.

What attracts high-profile investors is demand for copper in China, which is on track to consume half the world?s supply by 2033. China?s appetite for copper, plus there being few major new mines on drawing boards anywhere in the world, is a major factor in the price of the metal doubling over the past two years from $US2 to $US4.30 a pound.

Critical development decisions about Yandera will be made over the next few months. A memorandum of understanding has been signed with a Chinese development partner (China Nonferrous), and Standard Bank mandated as financial adviser.

In the meantime, Marengo continues to expand its already massive ore resource with five drilling rigs of site. Broker tips on the stock are rare because Marengo is still an exploration story; but Canada?s Paradigm Capital, which is close to the company, is forecasting a 12-month price for the jointly listed stock (ASX and Toronto) of C65? (A63?)


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## thestevo888 (23 January 2012)

*Re: MGO - Marengo Mining*

I'm amazed there's not more interest in this stock; it seems to be really slipping under the radar. For those of you unfamiliar with it, MGO is a large copper play based in PNG. Its resource estimate stands at 6.5 Billion pounds of copper plus gold and moly credits. Funding and off take looks likely due to the involvement of China Non Ferrous, and a buy-in by Petromin, a PNG government body. Currently trading in the low .20's,(MC around 230M) with still 2-3 years till first production. A spec play, definitely, but one with much better prospects than many I've looked at recently. I'd love to get some opinions on this as I'm by no means an expert - positive, negative, whatever, as long as they're informed.

What does everyone think?


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## drillinto (16 February 2012)

*Re: MGO - Marengo Mining*

February 15, 2012
Marengo Gets Set To Boost Both Resource And Grade At The Huge Yandera Copper Project In Papua New Guinea
By Our Man in Oz

For an exploration company, a year is a long time between resource estimates, which is possibly why some investors have taken their eye off Papua New Guinea-focussed Marengo Mining. All will be forgiven next month though, when the results of a massive 40,000 metres of diamond drilling are incorporated into the overdue upgrade of the Australian-based company’s world-class Yandera copper project. Minesite’s Man in Oz was not given a sneak preview of what the new number will be when making a house-call at the company’s office in Perth. But it doesn’t take too much experience in the mining business to know that the flow of drilling results from Yandera over the past year is pointing to a big increase in what’s an already monster resource. The current, soon-to-be-adjusted, total is 6.5 billion pounds of copper and 204 million pounds of molybdenum.

Recent infill drilling results at the three main orebodies which make up the current understanding of Yandera include an eye-popping 732 metres at 0.53% copper, and 81 metres at 1.22% copper. The enormous thickness of that almost half-a-mile of drill core illustrates the vast depth of the Yandera structures. But the thinner result contains news which is perhaps even more important, because any result above the 1% copper mark will boost the economics of Yandera, and materially affect the definitive feasibility study (DFS) that Marengo is currently undertaking, and which is due for completion around the middle of the year.

Five diamond drills are currently active at Yandera, so the first question for Marengo chief executive Les Emery is: why the 12-month gap between resource estimates? A shorthand interpretation of his answer: too much drill core for the assay laboratories to handle. “We had planned to release a fresh resource estimate late last year”, Les said. “But when we looked at the huge amount of drilling we did over 2011 we realised that we would have to use an August cut-off, and not include all results.” That decision to roll the updated resource numbers into the first quarter of 2012 means that the market will get all of the 2011 drilling into the calculation, which is likely to surface just before or after Canada’s peak mining conference, PDAC, in early March.

Interesting as it might be to try and guess the updated Yandera numbers, it would probably be a futile exercise because there is no doubt that Marengo already has more than enough copper and molybdenum in the resource category to push ahead with the design of a mine and associated processing plant. A more important number, and the one which will not be released until the DFS is finalised, is the reserve number, because that’s what financiers and equity investors will look for as the main point of comfort in supporting what will be a US$1.8 billion development. 

“We want to see a reserve number which will underwrite a 20 year mine life”, Les said. In fact, 20 years will be just the start for Yandera, which is being designed to process 25 million tonnes of ore a year to yield around 100,000 tonnes of copper, plus 15,000 tonnes of molybdenum. Over time, the mine could double in size as reserves grow as a result of the hectic drilling program underway on the company’s leases which are dramatically under-explored. Just five per cent of the tenement area has been tested so far.

And infill and exploration drilling could continue at Yandera for decades, given the targets identified by geophysical surveys. But in the more immediate term, the clock is ticking towards next month’s reserve upgrade and the mid-year DFS finalisation, both of which could include a few positive surprises. One of those surprises will be the inclusion of gold in the copper-equivalent estimate for the project. Until now gold, which grades around 0.09 of a gram per tonne at Yandera, has been sidelined as a by-product alongside silver and rhenium. But while the gold grade looks tiny, it should be seen in the context of the 776 million tonnes of ore, a volume of material which means Yandera is currently estimated to contain 2.2 million ounces of gold. And that number should also rise with the fresh resource estimate.

What could potentially happen with the inclusion of gold in the copper-product stream is that the average copper-equivalent for the entire Yandera orebody could rise from 0.4% copper to 0.5% copper. Once again, that looks to be a tiny movement in the numbers, until converted to a percentage. Because a 25 per cent increase in the amount of metal contained in each tonne of ore does wonders for the economics of any copper project.

Institutional investors with their more professional eye on value have outgunned retail investors to the point where they dominate the Marengo share register. Sentient Group, Quantum partners and Omers (Ontario Municipal Employees Retirement System) have built their combined stake in the company to almost 50 per cent. Sentient is sitting on 22.2 per cent, Quantum 18.9 per cent, and Omers 7.4 per cent. Other North American investors speak for 14.2 per cent, leaving the rest, including Australian foundation shareholders, with 37.3 per cent.

What the institutions are now waiting for is the start of news flow for 2012. Because this should change the nature of Marengo. First event of the year will be the release of the delayed resource upgrade, a point at which Marengo’s share price should accelerate the modest gains already seen this year. Next comes the DFS in mid-year, followed by a formal decision from the PNG Government, which has the right to buy a 30 per cent stake in Yandera. Then comes a formal construction agreement with China Non-Ferrous which will build the project, as well as help source 70 per cent of the funding, and which will also take most of the copper.

While all that is happening above the surface the drilling will continue deep into the ground at Yandera, and observers will be keeping a sharp eye on whether the grade at the project really does increase with depth, as appears to be the case. It should be a year of much progress.

Source >> www.minesite.com
*****


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## mr. jeff (16 February 2012)

*Re: MGO - Marengo Mining*

Very interesting post, thanks for putting that up. I had no idea the ground they are sitting on. They would have to be attractive to larger players with a 20 year mine life. 

May be a great time to have a look, particularly as the copper price is depressed. 
Will keep an eye on this but the chart already appears to be anticipating this announcement, lets see where this goes....


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## beatthemarket (19 June 2012)

*Re: MGO - Marengo Mining*

George Soros has had a large stake in this for a while via his Quantum fund along with a few other big players... The recent 25c capital raising will most likely be re-priced given management's inability to place the stock within Canadian legislative guidelines.. and with the stock at 15c this will unfortunately dilute existing shareholders a lot more than expected unless they are able to run the price in the near future.  The key drivers in the short term will be whether Soros and the other cornerstone investors participate in the re-priced raising...and the market is also expecting the yanderra feasibility study in the 2nd half of this year.


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## Bibimbap (4 October 2012)

*Re: MGO - Marengo Mining*

Big spike today to 14.5c after a low of 10c. Not sure if it's because of the recent investor presentation.


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## drillinto (12 October 2012)

*Re: MGO - Marengo Mining*

October 10, 2012
Marengo Gets A Canadian Lift As The Feasibility Study At Yandera Nears Completion
By Our Man in Oz

When the share price of a company jumps by 60 per cent in three days it’s a reasonable assumption that something significant has happened and that the daily media will report the event. 

Not so in the case of Marengo Mining, shares in which rocketed from A10 cents to A16 cents between Monday 3rd October and Wednesday 5th, earning a “speeding” ticket from the Australian stock exchange. 

Even so, barely a word reached the outside world, leaving observers of the sharp price rise wondering what really happened.

One possibility is that Canadian investment funds, governed by covenants which limit them to home-grown companies, discovered that Marengo has now obtained new citizenship, having swapped its Australian nationality for Canadian. 

Another is that investors suddenly recognised that Marengo will finalise its long-running feasibility study at its flagship Yandera copper project in Papua New Guinea by the end of the month. 

A third reason is that Marengo’s chief executive, Les Emery, fired up a room full of geriatric speculators at a conference on the Gold Coast in Queensland.

That final point seems to be the least plausible. Having said that, it was also the most interesting and one which Minesite’s Man in Oz observed first hand, as Les worked his audience of 600 wealthy, self-funded retirees, in Australia’s beachside equivalent of God’s Waiting Room. 

What the conference hall at the Royal Pines Resort heard was largely a summary of recent events at Yandera, including the potential effect of the “re-domiciling” of Marengo to Canada, a move Les freely admitted was about widening the company’s investor base.

Whether it was members of the audience (average age 70+) who drove the Marengo share price sharply higher is unknown. The Canadian connection is the more likely explanation, especially as the number of Marengo shares traded in the week in question appears to indicate institutional buying. For five consecutive days the volume exceeded two million shares. Sales on Monday and Tuesday set fresh 12-month records at more than seven million on each day, with another five million changing hands on Wednesday.

What investors, of all ages, are warming to is the “tipping point” that Marengo is fast approaching- the stage at which it’ll cease to be an interesting exploration story and will switch instead to a development and copper demand story. 

On that score Les is acquiring more listeners every day because he is able to point to several points in Marengo’s favour. These include the rising price of copper, excellent recent drilling results with improving grades, the finalisation of feasibility studies, the latter of which will trigger receipt of a fixed-price engineering and construction contract from the big Chinese company, China Nonferrous.

Regular Minesite readers will be familiar with basic numbers behind Yandera, but for newcomers here is a snapshot. Discovered more than 40 years ago by BHP, the resource was abandoned after being rated too remote, too difficult and not supported by the then prevailing low copper price. 

BHP also had the luxury of other copper projects, including the giant Escondida mine in Chile. Enter Marengo which acquired the asset in 2005 and set about spending A$100 million drilling 150 kilometres of diamond core in 500 holes to prove that just one central part of its tenement contains a world class 500 billion (yes, billion) pounds of copper, plus more than useful quantities of molybdenum, gold, silver and rhenium.

The development plan, which will be fine-tuned in the feasibility study, calls for a mine costing up to A$2 billion, that will process 25 million tonnes of ore a year for the production of around 100,000 tonnes of copper, plus 15,000 tonnes of molybdenum and other metals in two separate product streams. 

Mining in the first 20 years will involve lowering a hill rather than digging a hole. The ore will then be concentrated on site, and then sent via a slurry pipeline to an export facility in the port of Madang, where Marengo has recently acquired a berth, complete with a ship-loader previously used by a wood-chip company.

Sometimes criticised as a project which is a long way into the future, Les now has the perfect answer. “The future is almost here,” he said, a comment which points to the start of a period of accelerating news flow. “We’re targeting financing and approvals on this project in 2013,” Les said. “That will see us in full production in 2016, entering the world copper market at just the right time.”

Long before first exports, Marengo is likely to have its backroom team working on an expansion phase which could result in a doubling of the current annual target of 100,000 tonnes of copper. “The feasibility study is coming to an end, but that’s not the end of the drilling,” Les said. “While I’m on watch at this company we will keep on drilling because every hole we drill we just get better and better.

“Recently we did some infill drilling within the resource zones and we had some amazing success. When you look at the average mine grade we’re predicting around 0.45% copper, which is the average of 25 copper mines globally. But the results we achieved in some of the latest drill holes are more than double our predicted mine grade. They were a surprise to us, and showed the advantage of continuing to infill drill. An increase in grade in this deposit creates an exponential increase in value.”

If the domicile shift to Canada, the imminent completion of the Yandera feasibility study and the high-grade infill drill hits are still insufficient to grab the attention of investors, then what lies ahead in regional exploration should, because Marengo really has only just scratched the surface of its tenements. 

“On the exploration front we have a set of licences which straddle a structure called the Bundi Fault,” Les said. “It’s around 100 kilometres long. We’ve done very little exploration outside Yandera Central.”

For investors with time horizons longer than a few years the exploration potential of the Yandera region looks more exciting than Marengo’s mine development plan. “We’ve completed two low level aeromagnetic, radiometric surveys in recent years. They have identified a number of what we call Yandera look-alikes. Any of those could be equal, or bigger than the Yandera deposit.

“I remind people that the Grasberg mine in Indonesia started life as the Ertsberg deposit. Once they started construction, exploration discovered Grasberg just along strike. We went to Yandera and started drilling where BHP left off, and for all we know Yandera Central may be the baby and a Grasberg maybe sitting right next door, and that’s where we’re starting to focus.”

 Source >> www.minesite.com


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## Out Too Soon (17 October 2012)

*Re: MGO - Marengo Mining*

Further High Grade Copper-Moly-Gold Results at Yandera  
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01344278


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## kirtdog (8 January 2013)

*Re: MGO - Marengo Mining*

Why have they released MMC stocks? Does this mean MGO needs more funding to get some dirt up? (rookie here):1zhelp:


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## System (13 January 2013)

*MMC - Marengo Mining Canada*



> *Marengo Mining Canada to grace ASX boards*
> *Monday, January 07, 2013 by Angela Kean*
> 
> Marengo Mining Canada (ASX: MMC) will soon light up the boards of the ASX after being admitted to the official list today.
> ...




More: http://www.proactiveinvestors.com.a...mining-canada-to-grace-asx-boards--37891.html

http://www.marengomining.com


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## Out Too Soon (14 January 2013)

*Re: MGO - Marengo Mining*



kirtdog said:


> Why have they released MMC stocks? Does this mean MGO needs more funding to get some dirt up? (rookie here):1zhelp:




http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01373227

Basically we will be able to trade our (ex MGO) shares from the 17th January, hopefully the Canadian connection will give a deserved boost to interest in the co. (& the sp) 

& no, it's not about extra funds just extra coverage/ change of "domocile".


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## kirtdog (7 February 2013)

MMC up 19% today with the feasibility study update


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## System (5 June 2015)

On June 2nd, 2015, Marengo Mining Limited (MMC) was removed from the ASX's official list at the request of the Company, in accordance with listing rule 17.11.


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## Wysiwyg (7 June 2015)

Oh I remember trading this stock years ago. Never quite managed to get the Yandera project up and running and have now domiciled in Canada apparently to access equity markets. Remaining listed on the TSX and working toward one day, some day extracting copper from the remote location.


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