# PXG - Phoenix Gold



## System (2 December 2010)

Phoenix Gold Limited (PXG) has entered into conditional agreements to acquire exploration and development projects in the Eastern Goldfields region of Western Australia.

http://www.phoenixgold.com.au


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## LeeTV (6 December 2010)

There has been a delay in the listing of PXG, red tape etc. I rang the company and 8th December looks to be the new listing date.


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## LeeTV (20 December 2010)

Spoke to Jon Price. He said that the ASX were snowed under and that they were hoping for the 17th Dec to list, it's now slated for the 22nd Dec. In the mean time holding statments should begin to arrive early this week. The IPO was heavily over-subscribed and they have scaled it back so everyone got something, your allocaton should be in your account already, mine are. He also added that drill rigs were ready to roll early in the new year.


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## LeeTV (22 March 2011)

Phoenix Gold confirms high grade near surface gold at Castle Hill

_Tuesday, March 22, 2011_ 

Phoenix Gold (ASX: PXG) maiden drilling has discovered high grade near surface gold at the Outridge and Kiora Deposits, part of the Castle Hill project.

Highlights include:

- 13 metres at 7.4 grams per tonne (g/t) gold from 57 metres, including 1 metre at 83.9g/t gold;
- 7 metres at 7.9g/t gold from 67 metres, including 3 metres at 12.4g/t; and
- 2 metres at 6.0g/t gold from 23 metres.

The results increase the strike length to 1.4 kilometres and provide the potential to boost the 253,000 gold ounces resource estimate.

These results will also help the company to deliver an updated resource for Castle Hill by mid-2011, before commencing a Pre-Feasibility Study.

Jon Price, managing director, said "Our first program has tested the lateral extensions of the ore body, however, the project remains largely untested below 80 metres depth so we see great potential for Castle Hill to become a very large gold operation."

Phoenix currently has JORC Resource of 977,000 gold ounces in total across all of the company's projects, with the goal a 50% increase by the end of 2011.

The projects cover 455 square kilometres within 50 kilometres of Kalgoorlie, and most importantly are proximal to the plus 4 million ounce Kundana Gold Camp, the plus 1 million ounce Frog's Leg Deposit, the 1 million ounce Ghost Crab Deposit, the plus 1 million ounce Enterprise Deposit and the 4 million ounce Mt Pleasant field.

Adding to this prospectivity is the potential for production, with Phoenix's projects within trucking distance of six established processing facilities.


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## mr. jeff (22 March 2011)

LeeTV said:


> Spoke to Jon Price. He said that the ASX were snowed under and that they were hoping for the 17th Dec to list, it's now slated for the 22nd Dec. In the mean time holding statments should begin to arrive early this week. The IPO was heavily over-subscribed and they have scaled it back so everyone got something, your allocaton should be in your account already, mine are. He also added that drill rigs were ready to roll early in the new year.




Hi Lee, thanks for the info.
What is your connection with the company ? PXG has basically just floated a JORC resource ?


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## LeeTV (31 March 2011)

mr. jeff said:


> Hi Lee, thanks for the info.
> What is your connection with the company ? PXG has basically just floated a JORC resource ?



Hi Jeff. I am a holder of Cazaly and they sent me the IPO details. I liked the look of their [PXG] grounds and management and bought in to the IPO, bought more on market prior to this announcement too. I think the milestones are achievable. The company is cashed up for the next 12 mths or so and the oppies should be well in the money by then too, imho.


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## djones (31 March 2011)

LeeTV said:


> Hi Jeff. I am a holder of Cazaly and they sent me the IPO details. I liked the look of their [PXG] grounds and management and bought in to the IPO, bought more on market prior to this announcement too. I think the milestones are achievable. The company is cashed up for the next 12 mths or so and the oppies should be well in the money by then too, imho.




The PXGO & PXGOA's have started to be bought up quite heavily in last few weeks... possibly pre-empting a move in the heads??

Good results and very proactive company who are aiming to be cashflow positive by the end of their first year!


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## LeeTV (1 April 2011)

djones said:


> The PXGO & PXGOA's have started to be bought up quite heavily in last few weeks... possibly pre-empting a move in the heads??
> 
> Good results and very proactive company who are aiming to be cashflow positive by the end of their first year!



I like the cut of your jib. I was thinking the same. Heads are trailing at the moment, last traded @ 20c. PXGO last traded @ 5c (20c excise Feb 2012) PXGOA last traded @ 7c (25c excise Nov 2014).

Another aquistion today too:

ASX / MEDIA ANNOUNCEMENT
Phoenix Gold Ltd
ABN 55 140 269 316
73 Dugan Street
PO Box 100
Kalgoorlie WA 6430
Phone +618 9021 2704
Fax +618 9201 3393
www.phoenixgold.com.au
Info@phoenixgold.com.au
Phoenix Gold Limited (ASX: PXG, “Phoenix Gold”) is pleased to announce it has reached agreement with
Golden Deeps Ltd (“Golden Deeps”) to purchase a 95% interest in Golden Deep’s Blue Funnel gold project in
Western Australia.
Blue Funnel is located on the Zuleika Shear and is enclosed by Phoenix’s existing Broads Dam gold project in the
Carbine-Zuleika shear district. The purchase includes a single mining lease (M16/19) covering 109ha (Figure 1)
and includes a mineral Resource of 38,000 ounces at 3.9g/t below the existing Blue Funnel Pit (refer Note 2)
which mined approximately 48,000 ounces at 4.5g/t between 1985 to 1993.
This acquisition represents an important step in Phoenix’s efforts to consolidate ownership along the highly
prospective Zuleika Shear and in doing so, build a second major exploration project to compliment the
advanced Castle Hill project located 10km to the southwest.
Phoenix’s Broads Dam project now has an area in excess of 27 square kilometres including 14 kilometres of
continuous strike along the Zuleika shear, which hosts several world class gold deposits including Kundana
(+4Moz) and Frog’s Leg (+1.5Moz) to the south and Bullant (0.6Moz) to the north of the project area.
The gold endowment of the Broads Dam project totals approximately 350,000 oz (135k oz historic production
plus 100k oz in remaining resources), all of which is located in the top 80 metres in only two areas. The
remaining strike length remains under-explored as does the depth extensions below 80 metres. Both areas
represent high potential exploration targets (see Figures 3 & 4).
Phoenix has agreed to purchase 95% of the Blue Funnel asset for the following consideration:
− $25,000 non-refundable cash deposit on signing formal agreement
− $275,000 cash payable at settlement
− $800,000 in Phoenix shares (4,000,000 shares at $0.20)
− Gold royalty of $20 per ounce produced from the tenement.
“The Blue Funnel asset represents a natural fit with our existing Broads Dam project along the world-class
Zuleika shear zone,” Phoenix Managing Director Jon Price said. “By combining this acquisition with the Phoenix
Gold’s existing leases we have consolidated a significant holding containing approximately 14km of the
Zuleika Shear Zone creating a second major exploration project in addition to our advanced projects along the
Kunanalling Shear Zone at Castle Hill”.
“The high-grade resource and surface stockpiles at the Broads Dam project present immediate
opportunities, but it is the potential along strike and at depth that has us most excited. With the
+ 4M oz Kundana gold field to the south and Bullant along strike to the north, this is the right
address to find large high grade gold projects,” he said.
Commenting on the sale of the Blue Funnel Gold Project, a spokesman for Golden Deeps, said: “This
transaction is beneficial to both parties and is indeed a win-win situation. It brings together gold
exploration and enthusiasm for the Zuleika Shear area with the existing mineral Resource at Blue
Funnel and the potential for discovery of deeper lying ore”.
“For Golden Deeps, it provides an opportunity for focussed exploration and potentially
recommencement of mining at Blue Funnel with Golden Deeps maintaining both an ongoing
interest, free carried to the commencement of mining, as well as a $20 per ounce oyalty on all ore
mined”, he said.


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## djones (22 April 2011)

I encourage you all to have a look into this very undervalued gold explorer over the weekend. Current resource of 977,000 ounces of gold, $4 million cash and a market cap of only $15 mil. Management have big incentive to increase resource to 1.5 million ounces.

PXGO's a great buy at 5cents.


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## LeeTV (14 June 2011)

Brenton Thomas Valuation Report

Code PXG 
Name Phoenix 
Price $0.240 
Review Date 28/05/2011 

Num Shares 78,938,326 
Market Cap $18,945,198 

Num Options 35,983,350 
Ex Price $0.200  

Diluted Shares 114,921,676 
Dil Mkt Cap $27,581,202 

Cash $2,807,000 
Assets $0 
Debt $0 


Company Valuation Resource EV 

Valuation* $1.057*
Potential Gain 340.36%
Gold Ounces 992,695 (Based on 992k now currently at 1.39Moz)
Market's Enterprise Value $17,577,532
Market's EV per Ounce $27.78 
Resource Enterprise Value $111,452,798
Av JORC EV per Ounce $113.30 
Av Discovery EV Per Ounce $50.00


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## alexc2005 (15 June 2011)

Dam i wish i had seen this thread last week.

Started watching these yesterday and they have just soared up massively!


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## bryos (12 September 2011)

ASX down >3% 

PXG SP has held up brilliantly, news on the way perhaps, but this is definately under the radar, approx MC of 16million 
1.4 million ounce resource [inferred] and a 2.2 million ounce target in the near term. 

The gold price is soaring and PXG having a Mine, Toll, Truck operation, they just need toll agreements signed and PXG will be a producer.

With cash costs of $850/oz and gold at $1850/oz = high profit margins 

of course DYOR


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## LostMyShirt (12 September 2011)

I really like the chart for this company! I may throw in a quick trade in a few days after analysing the price action.


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## bryos (12 September 2011)

LostMyShirt said:


> I really like the chart for this company! I may throw in a quick trade in a few days after analysing the price action.




Also the fundamentals look good, and most importantly they have good management and an ever increasing resource


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## LostMyShirt (12 September 2011)

bryos said:


> Also the fundamentals look good, and most importantly they have good management and an ever increasing resource




The only thing I find a little worrying is the COG@$850/oz - compared to other producers this is rather high and in order to get a decent valuation would require 1800POG to remain strong as suport excluding some of the outlandish projections given by smoe insto's.

If I get in now I'd be late to the party - better wait for a drop back to trend support.


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## boff (12 September 2011)

Looks good. Gold is where it's at. Just bought me a bag of PXGOA.


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## boff (12 September 2011)

LostMyShirt said:


> If I get in now I'd be late to the party - better wait for a drop back to trend support.




Possibly true, however I strongly believe that small cap / junior gold stocks are overdue a sharp correction upwards. The valuations presently just don't seem to match up with the current price of gold and if Europe falls apart today's price may end up seeming like bargain basement.


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## LostMyShirt (12 September 2011)

boff said:


> Possibly true, however I strongly believe that small cap / junior gold stocks are overdue a sharp correction upwards. The valuations presently just don't seem to match up with the current price of gold and if Europe falls apart today's price may end up seeming like bargain basement.




Save me the trouble of searching if you will, and tell me how long until production is realized from the current project?

Looking at buy/sell ratio; almost 2.5:1 - I see a price push at a slow rate.


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## bryos (12 September 2011)

many analysts have already said greece will defiantely default, gold will rise >$2000/oz,

I agree you could be late to the party, but the real party hasn't started yet? (hence the low MC)

One strategy traders use is if you like the company, only commit ~50% of your funds to an entry price (price now) then if it tracks lower, average down
if it tracks higher, be thankful your apart of the party

have to have alot of patience with these juniors, but the multi baggers that eventuate are worth it

PXG seems to tick alot of boxes


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## bryos (12 September 2011)

refer to latest announce on 2nd of sept - general meeting presentation

catherwood to generate cash flow - december 2011

PXG ~ $20mil market cap for ~1.5million ounces of gold while gold >$1800 is a no-brainer IMHO


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## LostMyShirt (12 September 2011)

bryos said:


> many analysts have already said greece will defiantely default, gold will rise >$2000/oz,
> 
> I agree you could be late to the party, but the real party hasn't started yet? (hence the low MC)
> 
> ...




*As I wrote this post you responded - sorry my fault.*
By the way you guys are about to hit top line resistence so any push past 275c may be a potential breakout. I may make my entry at the end of the week on this one depending on the duration of explorer to producer transition from the current project.

Ok - this is now in my prospective buy list - tyvm for your help. Time to do some reading  Thought if projecting a 20m MktCap I AM late to the party indeed.


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## bryos (12 September 2011)

News due soon on toll treatment. The cash costs of $850/oz for Catherwood was assuming a PXG owned and run facility so expecting a different set of figures in regards to toll treatment if outsourced

but the margins should still be more than enough to warrant it with the price of gold soaring and likely to keep going higher IMO

No problems, of course you will DYOR to satisfy your criteria for buying, but any pullback from these prices Ill be accumulating more


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## bryos (13 September 2011)

Futhermore, PXG management can be applauded for their continuous actions and development. Announcement today is evidence that their property is well positioned to advance with ease to producer.


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## LostMyShirt (18 September 2011)

PXG is holding up pretty nicely through the Gold rallying down over the week - though back in the green on Friday night after a nice fat rally back up to 1800.


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## springhill (6 August 2012)

*LATEST DRILLING RESULTS CONFIRM POTENTIAL FOR A NEW GOLD SYSTEM*


● Maiden drilling at the Telegraph prospect delivers excellent results
● Telegraph in close proximity to the flagship Castle Hill Project
● Significant mineralisation defined over a 1.7km strike length
● Significant drill results include:
- 8 metres at 19.68g/t Au from 136 metres including 1m at 133.46g/t
- 4 metres at 11.80g/t Au from 39 metres
- 2 metres at 21.38g/t Au from 30 metres
- 1 metres at 23.47g/t Au from surface
- 3 metres at 6.96g/t Au from 160 metres
- 7 metres at 2.74g/t Au from 72 metres
● Mineralisation remains open along strike and at depth
● Maiden Telegraph resource expected in the December Quarter


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## JJBM11011 (20 September 2012)

PXG just booming and yet the OA opts still a steal only 2.5c out of the money with two years to run..!!


Holding a top20 -PXGOA


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## piggybank (28 December 2013)

Daily P&F update:-


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## System (13 January 2016)

On January 6th, 2016, Phoenix Gold Limited (PXG) was removed from the ASX's official list in accordance with Listing Rule 17.14, following the completion of the compulsory acquisition by Evolution Mining Limited of all its shares.


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