# GW1 - Greenwing Resources



## YOUNG_TRADER (2 May 2006)

Watch this thread, more info to follow,

Spec Zinc explorer with a deposit

Very small mkt cap,

Working around the old Tasmanian Que River Zinc site,

Drilling has returned good grades, has JV'd with ZFX to advance exploration on tennements, has contacts with Sempra,

Very Spec, but as with RXL recently, more good drilling results and wooshhhhh,
the upside is huge.


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## YOUNG_TRADER (2 May 2006)

Ok more info as promissed,


*Capital: 37m shares + 10m 25c 31/7/07 options*
*Fully Diluted: 47m   @ 25c = $12m approx*

Options: Should raise $2.5m if exercised


*Que River* Tasmania
Historic Production of 3.3Mt @ 13.3% Zn + 195g/t Ag + 3.3g/t Au + 7.4% Pb + 0.7% Cu

JORC 370kt@ 4.2% Zn + 1.7% Cu + 64g/t Ag + 0.3g/t Au
= 15.5kt Zinc + 6.3kt Copper + 850k oz's Silver + 4k oz's Gold

In ground Gross Value of $150m and its just a start!

Will not need huge Cap Ex to get project going as will mine and truck the ore very short distance to Intec's Helleyer Plant.

Huge potential to expand around 'Old Que River' Mining Area.


Has a JV in place with ZFX to advance exploration

Also has good workings with Sempra Metals

About $2.5m left in the cash coffers


Given tight Mkt Cap, could surge quickly when mkt becomes aware of this comapny and its Zinc/Copper deposit in Tas.


Thoughts?


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## ctp6360 (2 May 2006)

This looks great to me too YOUNG_TRADER, unfortunately, for me, there doesn't seem to be enough volume at all to get a decent parcel, as it stands today that is, I'd have to run the price up to 26.5 if I wanted to get in. I like the look of the graph though, I might keep a close eye on this one this week....


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## ALFguy (9 May 2006)

Another spec with huge potential and again spotted by Y_T.
Keeping an eye on this myself.


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## YOUNG_TRADER (30 May 2006)

Gobble Gobble Gobble!

Gram em while you can, 

Mkt did not care about the advancement of Que River Copper Zinc project, and stock is just pottering around!

Current mkt cap $10m what a joke!
I see 80c by Sept

Time shall tell who was wiser, myself or the mkt!


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## dreilly (20 June 2006)

Prelim results from mining study published 16/6 
http://www.bassmetals.com.au/newsDocs/31_ASX_16June06QRMSResults.pdf

looks positive, market seemed to react to it, from .16 to .19.

Wish i could add more analysis. Still sifting through that report.


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## YOUNG_TRADER (8 July 2006)

BSM has been busy consolidating the Tas area by acquiring surrounding leases it now holds a huge chunk of one of Aus's greatest Mining Areas,

This area in Tas is very rich in Zinc,

To affirm, I like BSM for 5 reasons,

1. Small Mkt Cap

2. Excellent Land holdings

3. Focus on near term cash flow from JORC Zinc Deposits

4. Huge Blue Sky discovery opportunities around ZFX's Roseburry Operation,

5. Blue Sky is so huge that ZFX is doing a JV with BSM,
Now how many JV's are ZFX doing?  = 2
*1 with TZN $100m + Mkt Cap
 1 with BSM   $10m+ Mkt Cap     * Choose your exposure!



Zinc bull takes future by the horns
Robert Gottliebsen, Vision 2000 
July 08, 2006
ZINIFEX believes the next three years will be good for zinc and that the stock market is under-pricing its future prospects.
Chief executive Greig Gailey says analysts have not factored in his long-term plans to ensure the company will still be prospering in 15 years. So when you ask him whether he would recommend a bid at a 30 per cent premium to the market, he comes back quickly: "We would probably hold out for 60 per cent." 

But Gailey is a realist and knows the resource industry is undergoing dramatic consolidation and Zinifex has an open register, making it vulnerable. But the zinc boom has given him strong cash flow, which means that Zinifex could itself do a share-exchange deal with a company that had major developments requiring finance. 

Gailey has had an incredible roller-coaster ride since leaving BP and becoming chief executive of Zinifex's predecessor, Pasminco, in August 2001. He had barely put his feet under the desk when the operation was put into administration. 

But Gailey stayed with the enterprise and worked with the administrator, finally helping to engineer the float. In the year to June 30, he will be rewarded because analysts expect Zinifex to earn $950 million - paradoxically, the exact sum the banks received in the public float which crystallised their $2 billion loss. 

Zinifex's 2005-06 earnings received a big boost from zinc prices in the second half so analysts are looking for a profit in the vicinity of $1.5 billion, or around $2.70 per share, in 2006-07. That puts the company on a projected price/earnings ratio of between three and four. 

It is at this low level because around 80 per cent of the Zinifex profit comes from the Century zinc mine, which is a discrete ore body that will produce at full capacity (500,000 tonnes) until 2016 when production will suddenly come to an end. Until 2011, the company will need to spend around $100 million annually on overburden removal. In the final five years, cash generation will skyrocket, depending on the zinc price. 

Gailey is a zinc price bull for at least the next three or four years. He points out that during the decade to 2000, many big new zinc mines, including Century, were commissioned, flooding the market and causing the price to slump to uneconomic levels. Exploration was halted and new projects mothballed. Then demand from China took out the surplus production, and there are no new major, committed projects, so the price has risen to above $US3300 a tonne - a more than fourfold increase from the level of the tough years. 

After 2011, whether the price holds that level, goes higher or slips back will depend on demand at that time and whether the major miners ramp up major new mines. But Gailey points out that because no major company has committed to a significant new mine, it will be four or five years before one is started. 

There are very few major ore bodies awaiting development because exploration was stopped. The biggest undeveloped ore body is in Iran and, not surprisingly, the political risks are deterring capital investment. Others are in frozen areas of North America that will be very costly to develop. The majors are hesitating because capital costs have ballooned and they need a sustained zinc price that is substantially above previous levels to justify investment. 

The memory of the slump of 2000 is still fresh. The market is pricing Zinifex shares on the basis that by 2016 it will have only token zinc production and will be left with four smelters. 

Gailey has a four-point plan to prove the market wrong. The first step is to develop the Dugald River mine near Cloncurry. Dugald River was sold to Zinifex (then Pasminco) by Rio Tinto as part of the Century zinc sale. It is high-grade zinc ore which contains manganese which previously made it very unattractive to smelters. But modern Chinese smelters can treat zinc concentrates containing manganese. 

The company is conducting a pre-feasibility study and, if this proves successful in 2007, there will be a full feasibility study leading to a mine that will produce around 200,000 tonnes of zinc a year (two-fifths of Century). 

Zinifex has no net debt and will be able to fund the $500 million Dugald project from cash flow. 

Gailey's second plan is to accelerate exploration around Century. When Rio Tinto explored the area, it was looking for copper and Gailey is optimistic that he can find at least one ore body that will enable zinc production from the company's Century facilities to continue after 2016. 

*Zinifex exploration outside these two projects is designed to take a majority stake in highly prospective areas found by junior miners. In South Australia, it is funding an $8 million exploration program to earn a 70 per cent stake in the highly prospective Minninnie zinc deposit owned by Terramin. If the exploration produces disappointing results, Zinifex will walk away. It has done a similar deal with the Base Metals group in Tasmania.  * 
Zinifex also believes the company should do joint deals with junior explorers in North and South America where there are highly prospective zinc prospects. 

In all, it plans to spend $90 million over the next three years on exploration. 

Greg Gailey's policy of not attempting to peg out leases in areas outside of the mining sites but to allow junior explorers to do the early work is a radical departure from conventional exploration thinking. 

The third plan is to further develop the company's second mine at Rosebery, Tasmania, which has been producing for around 70 years. The company is to spend $19 million to determine exactly how much ore is in the mine and, once again, the company is confident Rosebery will still be producing well after 2016. 

Modern, conventional miners rarely have a substantial investment in smelting. Indeed, one of the reasons why companies are reluctant to bid for Zinifex is its ownership of four smelters. Potential bidders fear that if any of these smelters need to shut, the company will be hit with an enormous clean-up bill. 

Gailey disputes this, pointing out that the cost of closing the smelter at Cockle Creek was less that $50 million. The company has no plans to shut any of its smelters, but, theoretically, if it shut its Dutch smelter, the value of the real estate would yield a profit on the closure. The Dutch smelter is very profitable and expanding because it is efficient and Europe is now short of smelter capacity. 

The company receives periodic bad publicity from the historic problems at Port Pirie. Gailey says the company is moving to overcome the Port Pirie problems created by Zinifex's heritage. Longer term, he believes the Port Pirie complex will help the company make an important thrust into zinc recycling. 

Gailey can see smelting as an important source of future profits for Zinifex but does not plan to open new smelters because that would involve investing in new projects in Third World countries. Any surplus cash will be returned to shareholders. 

If Gailey is wrong (and the market is right), then by 2010 Zinifex will only have six years to run at Century, although it should be starting to ramp up Dugald. 

But Gailey's vision is that the company will have by then found two ore bodies the size of Rosebery so that it can maintain production beyond the Century closure. 

Most resource giants have projects coming forward and are not faced with the stark reality of mine closures as a result of a failure to explore. But the zinc boom has given Gailey and his people the cash to reverse their history and create their own future. 

Gailey might, of course, recommend a bid a little lower than a 60 per cent premium on the market. But it won't be much lower because he is supremely confident Zinifex can be a major zinc producer well beyond 2016. 

He believes demand for zinc will continue to rise because of the development of China and the high cost of alternative products like aluminium and stainless steel.


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## Kipp (7 August 2006)

Darnit, slipped back to 18c today... good news just keep BSM off it's downtrend... WAYNE have you been shorting another specie stock!

Ahhh well.  I suppose SP movements are prone to be erratic on small-cap stocks, so can't really read too much into it.  

http://www.asx.com.au/asx/statistic...sm&timeFrameSearchType=D&releasedDuringCode=M  See from 27/07 Que River

Does anyone know what was meant by the announcement _"at these grade ranges the value of the material on an in situ bassis is greater than $1000/tonne than current spot prices?" _  To my understanding that is the value of the deposit (unmined) if sold to a third party.  Right?



			
				YOUNG_TRADER said:
			
		

> Current mkt cap $10m what a joke!
> I see 80c by Sept
> 
> Time shall tell who was wiser, myself or the mkt!



She'll have to quarduple in 3 weeks.  Another AUM maybe!


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## NettAssets (7 August 2006)

Kipp said:
			
		

> http://www.asx.com.au/asx/statistics/announcementSearch.do?method=searchByCode&issuerCode=bsm&timeFrameSearchType=D&releasedDuringCode=M See from 27/07 Que River
> 
> 
> 
> Does anyone know what was meant by the announcement _"at these grade ranges the value of the material on an in situ bassis is greater than $1000/tonne than current spot prices?" _To my understanding that is the value of the deposit (unmined) if sold to a third party. Right?






Having a read of it I believe it means that this is what the total resource is worth per tonne. Does not matter if it is sold or not.  If the company mines it itself then the Gross profit will be:Tonnes mined *1000 minus mining and processing costs.


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## Kipp (7 August 2006)

NettAssets said:
			
		

> Having a read of it I believe it means that this is what the total resource is worth per tonne. Does not matter if it is sold or not.  If the company mines it itself then the Gross profit will be:Tonnes mined *1000 minus mining and processing costs.




Thanks NA.  So it doesn't take margins in account etc (well, makes sense really how could they possibly estimate the mining costs etc at this stage... not a hope in hell) so I agree, it must just be the gross revenue for the reserve.  So roughly Ore at 20% Zn, 8g/t Au = 0.2 x $3400 + (1/3) x 650 = ~$840 US... r a bit over $1000 AU.  Ambitious pricing considering mine development can't occur for a long while...

THanks again!


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## YOUNG_TRADER (8 August 2006)

Kipp said:
			
		

> Thanks NA.  So it doesn't take margins in account etc (well, makes sense really how could they possibly estimate the mining costs etc at this stage... not a hope in hell) so I agree, it must just be the gross revenue for the reserve.  So roughly Ore at 20% Zn, 8g/t Au = 0.2 x $3400 + (1/3) x 650 = ~$840 US... r a bit over $1000 AU.  Ambitious pricing considering mine development can't occur for a long while...
> 
> THanks again!





Remember they're going to Toll Treat their open pit ore, so can be brought online very very quickly, Open Pit operations can be brought on steam within 3 months, you just start digging the hole and trucking the dirt to exisiting Mill,

They flagged either ZFX's or INL's Hellyer Mills,

As for my stock price pick, I was basing that on a take over from ZFX, they have been alluding to possible acquistions for sometime no and are only in JV's with 2 companies, TZN and BSM


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## juddy (16 August 2006)

well another good announcement today showing the potential of BSM projects and the market seemed to like it. Nice volume and if it continues  a test of 22c should be on the cards in the next couple of days.


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## blobbob (16 August 2006)

Dear all,



Its been a real flurry of activity as you may have picked up from our releases. A lot of information has come out since late July, and I hope you get the chance to catch up with it from our website. This release  describes more drill results from Mt Charter; the story goes.....


Further positive results from 4 diamond drill holes demonstrate continuity of gold-silver and zinc mineralisation; highlights include:
 - *72 metres grading 3.2 g/t gold *(equiv.*) from 17 metres down hole.
 - 16 metres grading 2.0 g/t gold (equiv.) from 1.0 metre down hole.
 - 8 metres from 41 metres grading 1.8 g/t gold (equiv.) including 4 metres at 5.6% zinc.
* Gold equivalency is based only on gold and silver assays at a 1.0 g/t gold assay cut-off using current metal prices.


By way of a general update - in the Presentation I gave to the Tasmaninan Minerals Council/MRT Exploration Forum on 28 July, I tried to highlight that Bass Metals is very active on all four of its exploration initiatives, and that we were more like four exploration companys!  As it was a technical event, I gave the audience some insight into our geological targeting processes (in collaboration with Geoinformatics) and a "taste" of our regional prospectivity across a range of commodities; gold, basemetals, nickel, platinium and iron. I also discussed the North Rosebery Prospect, 4 km north of Zinifex's Rosebery mine which appears to be along strike, associated with the same geological structutres, in the same rocks and with anomalous geophysics and geochemistry - *it is shaping up to be a very prospective target.*

It is an exciting time for the Company, with the completion of the $3.2M raising we are able to maintain a highly active programme and (almost) nothing quickens the heat-beat like drill results testing new targets in a prodigiously mineralised terrain like NW Tasmaina.

I look forward to keeping in touch



Kind Regards

Mike Rosenstreich.


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## juddy (22 August 2006)

another excellent volume day and has reached 22c resistance as short-term target helped on by a good announcement of surface finds and new issue which has aided liquidity. 25c next step.


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## vince (22 August 2006)

Something to keep  in mind here is, INL own 22.2% of BSM  Kieran Rodgers sits on both boards, BSM,s float presentation was rolled out at hellyer mill ,and bsm has access to the hellyer mill which has the effect of significantly enhancing the project value of any discovery by BSM and reduces costs of achieving commercial production. Cheers Vin


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## YOUNG_TRADER (22 August 2006)

YOUNG_TRADER said:
			
		

> Remember they're going to Toll Treat their open pit ore, so can be brought online very very quickly, Open Pit operations can be brought on steam within 3 months, you just start digging the hole and trucking the dirt to exisiting Mill,
> 
> They flagged either ZFX's or INL's Hellyer Mills,
> 
> As for my stock price pick, I was basing that on a take over from ZFX, they have been alluding to possible acquistions for sometime no and are only in JV's with 2 companies, TZN and BSM





Yep Vince, toll treatment option is the key here for quick early cash flow, 

As for Blue Sky, well thats what today's ann was all about, good surface samples from the Exploration JV with ZFX, only 4kms away from their Rosebury Mine,

BSM's current Mkt Cap is about $15m, ZFX could so easily chomp that up, they could chomp up nything up to $100m without even breaking a sweat, so if Exploration JV goes to plan   

Volume has been picking up to record levels for this stock


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## Kipp (22 August 2006)

YOUNG_TRADER said:
			
		

> Yep Vince, toll treatment option is the key here for quick early cash flow,
> 
> As for Blue Sky, well thats what today's ann was all about, good surface samples from the Exploration JV with ZFX, only 4kms away from their Rosebury Mine,
> 
> ...



Vince/YT- I think I am missing the significance of the surface results today... they seemed to be at levels that are not exciting enough to qualify for a mine (i.e. <0.5% Zn compared to driving results of BSM which were >5%).  Are surface samples indictative of a shallow deposit in the area?  A little help please...

Also (got the dunce cap on here) why did BSM do their latest capital raising at 16c when he SP was trading ~20 at the time?  (Surely this had a part in the retracement of the SP back to 17c momentarily last week)

But hey- what am I complaining for?  Back at 22 today...


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## juddy (23 August 2006)

YOUNG_TRADER said:
			
		

> As for Blue Sky, well thats what today's ann was all about, good surface samples from the Exploration JV with ZFX, only 4kms away from their Rosebury Mine,




Please correct me if I'm wrong, but I was under the impression the ZFX JV was only on the Hellyer project or have ZFX got a hand in this one too?

They've got so many on the go, it's hard to tell what is what!


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## vince (23 August 2006)

ZFX  has committed to contribute A$1.0mill to explore and generate new targets on the hellyer leases as part of its corporate strategy to increase its ore reserve base .Cheers Vin


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## juddy (23 August 2006)

Hi Vince, thanks for the reply. Another question for you...and a bit off the BSM topic. Has INL got anything to do with AGM's announcement yesterday?

cheers


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## YOUNG_TRADER (23 August 2006)

Kipp said:
			
		

> Vince/YT- I think I am missing the significance of the surface results today... they seemed to be at levels that are not exciting enough to qualify for a mine (i.e. <0.5% Zn compared to driving results of BSM which were >5%).  Are surface samples indictative of a shallow deposit in the area?  A little help please...
> 
> Also (got the dunce cap on here) why did BSM do their latest capital raising at 16c when he SP was trading ~20 at the time?  (Surely this had a part in the retracement of the SP back to 17c momentarily last week)
> 
> But hey- what am I complaining for?  Back at 22 today...





Private placements are usually done with sweeteners, ie discount to price, free opies, both etc

Surface samples are meant to be indicative of whats below, but just a much more dilluted representation,

also suggests open pittable nature, as the ore is close to surface, needs to pop 25c to get me excited


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## Sean K (23 August 2006)

Pretty sketchy chart. Stopped at resistance at $0.22. Would be pretty positive moving through that. Had a good run the past week or so, due for a breather perhaps.....


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## vince (23 August 2006)

Always a chance of AGM processing some ore thru hellyer conventional mill of course they trialled some tonnes. thru there and were more than happy results (better  than  expected ) the biggest issue is mills  are  scarse  because  of  metal prices  and  INL ,s hellyer  mill  have had 9  enquiries in the last 6 months, 12  months ago  there  were contemplating  selling it  !!! Cheers  Vin


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## vince (23 August 2006)

Not sure Juddy --but certainly AGM ore was trialled thru hellyer conventional mill early this year  and they  were very pleased with the results better  % than they  expected ,but hellyer mill, it appears will get busy , in fact  INL have  had 9 enquiries in the last 6 months re the mill , 12  months  ago  it was tossed around to sell it !!! but now  everybody is looking for a processing plant. By the way inl bsm and agm all use  ammtecs burnie research lab for assessing ore, bet  they look -over each others shoulder. Cheers Vin


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## Sean K (23 August 2006)

At $0.23, broke through .22 easily.


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## vince (24 August 2006)

Guess  by  now  all  are  aware AGM has/is in talks with  another  group to  start  early  production ,they have found a mine not in use  close to where their mine is located. which  now leaves BSM to  be  able  to  process ore at the hellyer mill.


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## juddy (28 August 2006)

FYI article in Business section of Today's West Australian.

http://www.thewest.com.au/default.aspx?MenuID=32&ContentID=4712

Bass keeps ball rolling with new mines plan
28th August 2006, 8:00 WST

Already less than six months away from a small-scale production start at its Que River base metals project in north-west Tasmania, Perth explorer Bass Metals is also hoping it will be able to snag a major discovery shortly at its surrounding ground.


While many small explorers would have thrown all their efforts into near-term production opportunities such as Que River, where 250,000 tonnes of high-grade copper-lead-zinc ore is slated for mining later this year, Bass has also spent the past eight months compiling a detailed geological model of the region for long-term exploration planning.

Bass chief Mike Rosenstreich said the company first compiled a three-dimensional geological map of its tenements to identify conceptual target areas. It then overlaid the results of past geophysical surveys and historical exploration data.

The process identified 65 completely new targets including North Rosebery, an area subjected only to limited past work, just 4km north of the big Rosebery base metals mine.

Mr Rosenstreich said the study indicated North Rosebery shared all the key characteristics of Rosebery, including the same suite of rocks and regional structural features associated with the Rosebery deposit.

But although several significant geophysical anomalies were identified in the mid-1990s, the area has been only sparsely drilled.

Fresh rock chip sampling by Bass last week returned samples grading up to 1.3 per cent lead, 4.2 per cent zinc and 136 grams per tonne silver, which it believes are analogous with the Rosebery deposits, especially given past drilling traces of elevated manganese ”” another key signature of the Rosebery mineralisation. North Rosebery is now a high-priority target that Bass expects to drill once a second rig, due shortly, has completed drilling at Que River. Bass is also about to start a 7000m diamond drilling campaign at its Hellyer leases, a few kilometres farther north, where Mr Rosenstreich said there was a good potential to identify rich Hellyer-style zinc mineralisation.

Having just raised $3.2 million, Mr Rosenstreich said Bass had enough firepower to fund work on all three key projects, including Que River.

Bass expects Que River alone to generate a cash surplus of more than $9 million at current prices.



John Phaceas


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## YOUNG_TRADER (29 August 2006)

Presenting in Hong Kong and Singapore,

Wouldn't be suprised to see some more mone flowing into this company, current cap is under $15m, well funded, JV with ZFX and small scale cash flow operation to start soon,


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## juddy (31 August 2006)

looks like the presentations may have stirred up some interest. Buy side looking healthier now.


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## YOUNG_TRADER (1 September 2006)

YOUNG_TRADER said:
			
		

> Current mkt cap $10m what a joke!
> I see 80c by Sept
> 
> Time shall tell who was wiser, myself or the mkt!






Well as usuall the mkt was wiser than I was    

But I still have alot of faith in this minow, although due to placement, my target has been revised downwards to 60c,

Interesting close with a large 500k buy order popping up,


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## maffu (11 September 2006)

A nice announcement from BSM today just moved up the price a fair bit. Price is up about 15% at the moment to .28.


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## YOUNG_TRADER (13 September 2006)

Sorry for delayed info (have been absent for last few days)

BSM released some great drill results on Monday which rocketed the share to 30c (an all time high) on large volume, unfortunately given the huge sell off the mkts have seen the last few days BSM has been a vicitim too,

Whats important to note is that those results released were for 4 drill holes only, there waiting on results for another 20-25 holes so expect plenty of news flow over the next few weeks,

Key Points
• Infill drilling on shallow portions of the S-Lens Mineral Resource returned
further positive results including:
*8.5 metres at 4.1% copper*, 85g/t silver & 0.6g/t gold from 55.4 metres
downhole;
 14 metres at 4% zinc, 1.2% lead & 18 g/t silver from 23.5 metres downhole
*including 2.4 metres 11% zinc*, 2.2 % lead & 30 g/t silver;
*10.5 metres at 12% zinc*, 4% lead and 46 g/t silver from 66.4 metres down
hole; and,
*2.6 metres at 7.1 g/t gold * and 39 g/t silver from 3 metres downhole.


BSM is still capped under well under $20m (fully dilluted with all optins etc)
Has a JV with ZFX to explore and is finalising agreements to toll treat its ore with either ZFX's Rosebury, or INL's Hellyer,
To compare CQT has a mkt cap just under $100m

I see a very nice depsoit shapping up,

Watch for more promising drill results


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## juddy (13 September 2006)

have been soaking a few of the panic sellers up yesterday and today YT and I had a bit of competition today.


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## juddy (14 September 2006)

From another one of their projects:
*
Bass Metals Ltd is pleased to provide an update on drilling results at its 100%-owned Mt Charter gold-silver project in western Tasmania.
*
Key Points

Further positive results from 2 diamond drill holes demonstrate continuity of gold-silver and zinc mineralisation; highlights include:
• 59 metres grading 1.7 g/t gold (equiv.*) from 52 metres down hole including 14 metres at 2.5 g/t gold (equiv) and 2.2 % zinc.
• 14 metres grading 2.0 g/t gold (equiv.) from 39 metres down hole.
• 13 metres from 64 metres grading 2.2 g/t gold (equiv.).
Gold equivalency is based only on gold and silver assays at a 1.0 g/t gold assay cut-off using current metal prices.
*• Latest results are consistent with previous wide gold-silver (+/- zinc) intercepts confirming a large shallow zone of mineralisation.
• Snowden Mining Industry Consultants Pty Ltd has commenced a mineral resource estimation process.*


Mt Charter Project
The Mt Charter project comprises an extensive outcropping gold-silver mineralised system. Assay results were received for the last 2 drill holes of the recently completed 12 hole programme. A summary of results for MCD35 and MCD36 is presented below:

These two drill holes are shown in the drill hole location plan in figure 1; and MCD35 is presented in cross-section in figure 2.
MCD35 was designed to test the down-dip continuity of mineralisation intersected in MCD26 and MCD27, namely:
• MCD26 – 59 metres at 1.3 g/t Au, 31 g/t Ag including 16 metres at 2.2% Zn; and,
• MCD27 – 28 metres at 1.2 g/t Au, 41 g/t Ag and 2% Zn and 9 metres at 1.3 g/t Au and 32 g/.t Ag.

The MCD35 intercept of 59 metres at 1.4 g/t Au and 14 g/t Ag has confirmed the vertical continuity of the gold-silver-zinc mineralisation within the central portion of the drilled zone. In this area gold-silver-mineralisation is interpreted to occur to a depth of around 100 metres over a width of approximately 100 metres confirming the Company’s view of the potential to delineate shallow, wide zones of low to moderate grade mineralisation.

MCD36 was drilled to the north-west, across the trend of the other drill holes to provide extra information on the trend of mineralised structures. This drill hole also intersected wide mineralised intervals generally consistent with the results obtained in nearby drill holes and appears to have more clearly defined the southern limit to this zone of mineralisation.

*Snowden Mining Industry Consultants have commenced resource estimation work and metallurgical testwork is continuing with results from both studies planned to be available in early October.* A summary of all significant drill results is presented in Table 3 to illustrate the shallow robust gold-silver results at Mt Charter and to highlight the additional potential zinc credit.


Commentary

Bass Metals has generated further positive drill results defining shallow, wide zones of gold-silver and sometimes zinc mineralisation associated with strong barite alteration at Mt Charter. *The results achieved to date are consistent with results reported previously and indicate a substantial, shallow gold-silver (zinc + barite) deposit with an interesting and potentially economic zinc and barite credit with favourable mining geometry.*


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## YOUNG_TRADER (14 September 2006)

I'm eagerly waiting to see their other results at *S-Lens* those meaty copper hits of 8m @ 4% are very very interesting,

Hopefully the next few results at S-Lens will show some more meaty Copper Hits! 

And yeah good to see the Mt Charter Open Pit Cash Cow project shaping up


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## YOUNG_TRADER (6 October 2006)

YOUNG_TRADER said:
			
		

> Sorry for delayed info (have been absent for last few days)
> 
> BSM released some great drill results on Monday which rocketed the share to 30c (an all time high) on large volume, unfortunately given the huge sell off the mkts have seen the last few days BSM has been a vicitim too,
> 
> ...




Ok so its been another 3 weeks, but like I said BSM has recieved more assays results from drilling and guess what? They're good as well, mkt is seriously undervaluing this multi project base metal company,

Well theres still more assays to come ove the next few weeks, but heres the recent

*11.6 metres at 1.2% copper, 5% zinc * 1.6% lead and 38g/t silver from 22.6 metres downhole;
*4.9 metres at 2.1% copper * 68 g/t silver and 1.1 g/t gold from 45.6 metres downhole;
*3.6 metres at 3.6% copper, 4.4% zinc*, 3.6% lead and 66 g/t silver from 18.5 metres down hole; and,
* 0.6 metres at 35% zinc, 14.1% lead, 100g/t silver and 4.2 g/t gold from 13 metres downhole as well as 1.4 metres 21.6% zinc, 7.4% lead 115g/t silver and 4.0 g/t gold from 16 metres.* 3.5 metres at 7.2% zinc, 4% lead and 35g/t silver from 29.6 metres downhole.
*5.7 metres at 13.9% zinc, 8% lead, 146g/t silver and 4.3 g/t Au from 10.3 metres downhole.
 5.0 metres at 8.3 g/t gold 264 g/t silver from 6.6 metres downhole.*


----------



## YOUNG_TRADER (13 October 2006)

Slightly increasing volume day by day and price edging up suggests more positive assays from drilling, faces 25c resistance (needs to get to and hold 27c IMO to clear this) then faces Day traders resistance of 30c (there was heavy trading at this price on back of first drill/assay results)

Once it clears 30c its on to blue skys, my target valuation is about 60c


----------



## Kipp (13 October 2006)

YOUNG_TRADER said:
			
		

> Slightly increasing volume day by day and price edging up suggests more positive assays from drilling, faces 25c resistance (needs to get to and hold 27c IMO to clear this) then faces Day traders resistance of 30c (there was heavy trading at this price on back of first drill/assay results)
> 
> Once it clears 30c its on to blue skys, my target valuation is about 60c



Heya YT, I would of said more than "slightly" increasing volume.... 650,000 is pretty strong for BSM, although it's average is 260,000... that is due to a few days 1M+ days (I consider the average trading day to be closer to 100,000) do you take this to mean more drilling anncts on the way?  Or do you think the increased interested is attributable to the Zinc rally at the moment (at some point it had to trickle down down to the speccies... it has given a nice surge to ZFX, CBH already...)


----------



## YOUNG_TRADER (16 October 2006)

Hey Kipp,

I reckon its a bit of both, the fact that we know more results are due out (and that the ones already released have been very good) combined with booming base metal prices/returning bullish sentiment etc


BSM may be on the verge of a chart breakout, I've got a line drawn at 25c which is where I see the cap on price being at, today it has gapped open on light volume at 25.5c, I would want to see 26-27c with decent volume and buy depth but nevertheless technically it looks like its about to break out

Sean a chart would be great if you don't mind    (I've got support line at 22c with resistance line at 25c sound right?)


----------



## YOUNG_TRADER (18 October 2006)

And more good drilling results,

This company is really gonna suprise, like I've said unlike others it doesn't have to worry about full feasibility for its projects because it is in the process of signing off on toll treatment agreement with either INL of ZFX for use of their plants, so its a dig it up and truck it 50km's type operation very low cap-ex and given the resource intercepts n JORC I reckon this will Net them way more than the mkt thinks, an outdated stage 1 estimate gave NPV of $10m, I think stage 1 will be more in the order of $20m (over 12-18mths) Stages 2+ will probably net another $50m or so over 2-3yrs and its still expanding resource day by day, not to mention its other 3 projects, one of which includes a JV with ZFX!  


Re: POSITIVE DRILL RESULTS FROM NICO LENS, QUE RIVER
Bass Metals Ltd is pleased to provide the following update on its drilling programme at Que River.
Key Points
• Results for 7 diamond drill holes into shallow portions of the Nico Lens at Que River have yielded encouraging results and highlighted the presence of a second parallel lens position at Nico referred to as Nico West. Better results include:
*5.4 metres at 10.8% zinc*, 3.2% lead, *109g/t silver and 1.5g/t gold * from 57.5 metres downhole;
*5.2 metres at 6.1% zinc*, 4.0% lead, 60g/t silver and *1.5g/t gold * from 47.8 metres downhole and *5.9 metres at 8.4% zinc*, 5.2% lead and *103g/t silver from 66.2 metres*;
*3.3 metres at 6.5% zinc*, 3.8% lead and 58g/t silver from 37.7 metres downhole;
* 4.1 metres at 5.2% zinc*, 5.8% lead and 95g/t silver from 52 metres downhole; and
*2.9 metres at 11.3% zinc, 6.7% lead, 146g/t silver and 1.7g/t gold * from 82.9 metres downhole.


----------



## Beethoven (18 October 2006)

Hmm i was wondering shouldn't this company be performing better than this?  It has a JV with zinifex and has good grades base metals.  Hmmm well i'm in now i think this company with a market capital of 11 mil is very undervalued.


----------



## Beethoven (24 October 2006)

Possible breakout??? It's now at 27 cents


----------



## YOUNG_TRADER (24 October 2006)

Needs to hold/close at 27c to confirm, however this stock has been due for a re-rating for so long now, 

I mean how many companies are in JV with ZFX? 2 as far as I know, TZN (Mkt cap $150m+) and BSM Mkt Cap $15m+


----------



## Sean K (24 October 2006)

Finding it very hard to break $0.25. Slight increase in volume recently, a good sign. Agree YT, $0.27 for a start. 3 days above might confirm breakout, but by then could have missed it. Certainly looking a bit better now.


----------



## YOUNG_TRADER (25 October 2006)

Trying hard to break and hold above 25c on large volume for this stock, not enough yet me thinks


----------



## cuttlefish (25 October 2006)

toll milling agreement and it'd be off I reckon.   

Hellyer results yesterday were less than inspiring but price has still held up well - at least they found some 'smoke' as they described it - potential for a big find is always around the corner with the level of exploration going on.  

Even if they didn't have the Hellyer ZFX JV at all this company still seems undervalued based on potential cashflow from que river - but they do need some co-operation from the mill owners to start to realise that value (as has been seen with AGM but at least AGM are getting their own mill soonish - maybe AGM could mill some of BSM's ore lol).


----------



## Beethoven (25 October 2006)

yay finally got up above 25 cents.  Now to see if it can stay there.


----------



## Beethoven (26 October 2006)

I think this stock has definately broken out.  It has strong support at 26.5 cents and moving up nicely.


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## Beethoven (30 October 2006)

Woah BSM up 9% and very good buying depth.  Buyers outweigh the sellers.


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## Sean K (30 October 2006)

Yep, broken out last week, but so has just about every other stock on the ASX!    Some things seem to be doing better than others. 9% rise is pretty average on any given day atm. Sorry to be a wet blanket.  : 

Good luck to long term holders. Perhaps a new era for BSM? 

Sorry chart is from Friday. Just imagine a white candle in there today..


----------



## Beethoven (1 November 2006)

ROFL i have never seen so much interest in this stock.  Commodity prices are rising volume is HUGE and there is sooooooo much interest. hahaha


----------



## Kipp (9 November 2006)

Well... didn't see that coming... there was absolutely no BUY or SELL depth this morning, but somehow SP leapt up to 31.5 on a vol of 240 000- on no news.  Not complaining though!


----------



## djones (9 November 2006)

Kipp said:
			
		

> Well... didn't see that coming... there was absolutely no BUY or SELL depth this morning, but somehow SP leapt up to 31.5 on a vol of 240 000- on no news.  Not complaining though!




I was a buyer today at 29.5c


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## rub92me (9 November 2006)

cuttlefish said:
			
		

> toll milling agreement and it'd be off I reckon.
> 
> Hellyer results yesterday were less than inspiring but price has still held up well - at least they found some 'smoke' as they described it - potential for a big find is always around the corner with the level of exploration going on.



I looked for an opportunity to sell my stake after reading that BSM update (and did at 30c). Comparing exploration with smoke didn't sound all that professional to me and didn't inspire my confidence


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## YOUNG_TRADER (9 November 2006)

Hmm closed at an all time high of 32c,

and first close over 30c, not yet confirmed but a bit of volume and buying above 30c = New Support level


Rub, while they're Zinfex JV exploration results were dissapointing they are constantly drilling meaning any day they could hit something

And if they don't who cares, as the still have 2 projects being Que River (Base Metals Zinc Copper) and Mt Charter Gold project, given that they will be toll treating their Ore with either ZFX or INL very soon, they will be re-rated as a producer,

Finally good to see INL buying up


Djones welcome aboard


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## YOUNG_TRADER (20 November 2006)

BSM looks to have broken out above 30c, but we need to see more buy support at 30c to confirm this,


Its high margin cash cow project at Que River is really friming up, some excellent grades of ZInc and Copper there and it looks like BSM will be choosing its parent company INL with its Helleyer Mine for processing of ore

I wonder where they will toll treat their Mt Charter Gold ore,

All in all this very active company is continually working at delivering results, I'll be surprised if its not in production within 3 months


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## Sean K (20 November 2006)

You back in this YT?

I've been watching it since that breakout through $0.25 and it's moved pretty well. Looks to have been rerated. The Que River project looks pretty good to me. I haven't crunced number for market cap v in ground value of the indicated resource. This is still open though, so could be further increases. 

The increase in vol since Sep is pretty encouraging. Channelling generally up now..Going on to all time highs and blue sky.


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## YOUNG_TRADER (20 November 2006)

Hey Sean,

I never left it, its one of maybe 3 stocks left in my portfolio, its just too undervalued and given its constantly drilling one day it just might find that 'fire' and if not its cash cow coming online will still make it a worthwhile punt


----------



## YOUNG_TRADER (22 November 2006)

Has attracted a nice buy depth support from 28c - 30c close to 1 Million on the bid and seems to be holding above support of 30c for now

Now get that Zinc cash cow at Que River going!


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## djones (6 December 2006)

Trying to buy some BSMO but having no luck, seems like everyones holding onto theres! Hows the chart looking now kennas? At what point will be a breakout do you think? .34?


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## YOUNG_TRADER (6 December 2006)

Just so you know they're 25c opies so at 30c ish value is 5c,


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## djones (6 December 2006)

Thanks for that! Where do you find out the strike price for options?


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## YOUNG_TRADER (6 December 2006)

Qtrly Reports, towards the end they have the Share structure along with any issues etc as well as opie price + expiry

I think a few peeps would assume they're 20c opies hence the 12c premium


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## Gspot (8 December 2006)

Bass are holding up well considering the hammering most zinc stocks are getting. Thinking of taking some profit.   
Would like to know what my family thinks? YT do you still hold these puppies?


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## YOUNG_TRADER (8 December 2006)

Was only holding opies lately as I sold off shares while back


Sold opies at avg 12c

Paid 6c for em so not too bad


Good company though, may look to re-enter


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## Gspot (8 December 2006)

Your opie mad YT! Do you hold any ordinary shares, or just opies now?
 Maybe you should change your name to Young_Opie_Trader.


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## Sean K (8 December 2006)

Another break up. Had a great run through that breakout at $0.25. 

This is riding the INL/BSM wave at the moment. Why don't they just merge and take on the rest of Tassie?


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## juddy (8 December 2006)

kennas said:
			
		

> This is riding the INL/BSM wave at the moment. Why don't they just merge and take on the rest of Tassie?




I'd expect that in the near future.


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## Sean K (19 December 2006)

juddy said:
			
		

> I'd expect that in the near future.



Or, maybe Xstrata's merger partner might take INL and Xstrata take BSM??

BSM consolidating ok. Probably ready to take another run at $0.34. $0.30/31 looking like ok support.

Any further good results should be great for INL too!!!   

(not holding BSM)


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## Sean K (19 December 2006)

kennas said:
			
		

> Or, maybe Xstrata's merger partner might take INL and Xstrata take BSM??
> 
> BSM consolidating ok. Probably ready to take another run at $0.34. $0.30/31 looking like ok support.
> 
> ...



I mean Zinifex, not Xstrata.


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## Sean K (19 December 2006)

kennas said:
			
		

> BSM consolidating ok. Probably ready to take another run at $0.34. $0.30/31 looking like ok support.
> 
> Any further good results should be great for INL too!!!



LOL. Just saw ann. Last traded $0.345. All time high. (not holding....  )


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## Moneybags (2 January 2007)

kennas said:
			
		

> LOL. Just saw ann. Last traded $0.345. All time high. (not holding....  )




Strong day for BSM finishing at .415 on low volume. This stock seems to be tightly held and the chart looks great.

Don't hold either   

MB


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## krisbarry (3 January 2007)

Certainly a sexy chart:


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## Sean K (4 January 2007)

More great results from BSM. Que River is looking great.

7.5m @ 11.5% zn, 6.7 pb, 6 oz/t ag, 3g/t au
3.4m @ 12.2% zn etc

Up 5% on ugly day.


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## toc_bat (4 January 2007)

one for the more experienced: if you wanted to buy this stock, would your gut say get it now as today is a slow day all round, or would it say wait a few days for some profit taking to lower the price a bit?

anyway with the expected profits for the year equaling the current market cap, still seems like a very cheap stock still, no?


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## krisbarry (4 January 2007)

Hard to say, but it did retrace yesterday.

The longer you leave it the more you will pay, as the chart indicates (6 months of steady climbing) 

stage 1 mining kicks of within months subject to tassie approval, expected profit of $15 million


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## Kipp (24 January 2007)

got back on board today at 33.  As the 32-33 was a pretty major resistence level back in Nov-Dec... hopefully will bounce back.  Positive drilling results have been ignored by the market (4th and 19th Jan) as the retrace in POZ has caused a bit of a sell off I think.  

Trial mining to commence in a couple of weeks.  Then hopefully approval of the full scale mining operation to be given in Feb.  With the projected profit for Stage1 at Que river of 7 mill (based on conservative prices) it seems pretty reasonable to me at 33.


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## Kipp (5 February 2007)

LME Zinc nosediving,  INL, and the Zinc producers (CBH, ZFX etc) have slipped in the last week, BSM relatively unscathed so far- but I think it will follow suit today.  
Will jump ship if it slips below 32.


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## krisbarry (5 February 2007)

Yes I thought BSM was a sure fire winner, but I am not so sure anymore.  The share price has slipped a lot over the last few weeks.


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## Moneybags (5 February 2007)

Kipp said:
			
		

> LME Zinc nosediving,  INL, and the Zinc producers (CBH, ZFX etc) have slipped in the last week, BSM relatively unscathed so far- but I think it will follow suit today.
> Will jump ship if it slips below 32.




I suspect there will be a lot of ship jumping today   

MB


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## YOUNG_TRADER (5 February 2007)

YOUNG_TRADER said:
			
		

> Was only holding opies lately as I sold off shares while back
> 
> 
> Sold opies at avg 12c
> ...





I sold back in Dec because company was taking far too long to progress Que River cash cow project,

Also given the small stage build up the NPV of Que River was about half BSM's Mkt Cap, so I sold

BSM was great when first discovered at 15c/16c 

It was still good at 30c with a booming Zinc price,

However since Que River is taking ages and the recovery rates and size of the intial production stages are alot smaller than I forecast as well as the fact that ZFX JV exploration hasn't been doing much it doesn't look as attractive anymore

Good luck to all


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## Halba (5 February 2007)

I'm out of BSM today as well for a tidy profit.

cheers all!


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## doogie_goes_off (11 July 2007)

BSM holds a large ground holding in the strategic Mount Read Volcanics, they have recently identified large Ni in soil anomalies in Western Tas aswell. The company may be a little overstretched but the potential is there for an announcement to trigger a good run. ZFX have a JV with them that is testing what is arguably the best remaining massive sulphide targets in the northern Mount Read Volcanics. I think that if this slides to 30c it is a reasonable value and will likely buy in, however I will also think I will be watching like a hawk for an announcement on any of their JV drill holes. I advised someone that it was a good buy at 16.5c, why don't I listen to my own advice???


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## cuttlefish (3 August 2007)

Surprised that this company doesn't get more attention - be curious if others have thoughts on it.  

They've announced today that the trial parcel of queue river ore has been succesfully processed by ZFX, so they should be able to start mining reasonably soon.  The first stage will generate quite a good profit vs market cap, and there's a lot more ore there in the total resource estimate.  Could be a little complex to mine, but also likely that they'll find more pockets in the area.

They've got a lot of other promising prospects and potential projects as well, and tassie is a pretty prospective area generally.  Seems that if they manage to generate a bit of their own cashflow they should be able to start to ramp up their exploration and development in other areas and start to leverage their true potential.  (gold, zinc, some interesting nickel anomolies in the same area that AGM is, ZFX joint venture, etc.)


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## doogie_goes_off (21 September 2007)

More hits like this could see them define a significant new zone at the old hellyer mine. Plenty of room at 200m spaced drill holes, nice rise of 13% on the back of this prelim announcement.


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## doogie_goes_off (5 October 2007)

And now for something completely different, I ignored BSM at my own peril on the October stck tipping comp and it has broken out on a nice long high grade base metal intersection.


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## doogie_goes_off (5 October 2007)

This is actually worth reading, maybe I should put it on breakout alerts.

-> 57.5 metres at 9.2% zinc, 4.7% lead, 94 g/t silver and 2.89 g/t gold

That's impressive and sellers have dried up a bit, over 1.5M sahres traded.


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## cuttlefish (5 October 2007)

yeah I agree - worth a read - this is a nice find.  Will need some more drill holes to get the scale of it - very nice grades circa 14% Zn equiv, with really strong silver and gold credits.   They've also recently starting producing from que river with the first ore shipped to ZFX plant recently.

Market cap circa $40m at .50c - not much given that the que river mine will return positive cash flow and they've got heaps of potential for more discoveries like this one.

If INL weren't around I would think ZFX would be all over this Co.  Thinly traded and tightly held though so be hard for them to go after.


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## Taurisk (24 October 2007)

cuttlefish said:


> yeah I agree - worth a read - this is a nice find.  .
> >>Market cap circa $40m at .50c - not much given that the que river mine will return positive cash flow and they've got heaps of potential for more discoveries like this one<<.
> 
> If INL weren't around I would think ZFX would be all over this Co.  Thinly traded and tightly held though so be hard for them to go after.




Hi - something's brewing here, first T/H, now suspended.  Do you think t/o bid likely?

Cheers
Taurisk


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## doogie_goes_off (26 October 2007)

Resouce base doubled (adds to nearby Que River resource) with initial Hellyer Resource and further placement of 5.4M. It remains to be seen if they can get a decent cash flow but it's likely given the Que River operation is already trucking ore to Zinifex. By my rough calcs there's $675M worth of ore there, just a matter of getting at it. If a ~1Mt resource could be defined at the 'southern barite zone' at Hellyer this may well be dividend producing company in the following financial year. The market is really showing BSM some respect today.


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## cuttlefish (26 October 2007)

I hope they generate some decent cash flow soon because its pretty annoying issuing large quantities of stock below market via placements - with luck this will be the last one.

Seems undervalued for the resource base given that they are in production.  But there is quite a bit of commodity price sensitivity in the project as well from what I can see.


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## doogie_goes_off (29 April 2008)

BSM is back on my Radar (Note - I already hold). It can only be a matter of time before they calculate an inferred resource for the Fossey Zone (The deposit previously known as the Southern Barite Zone). I am now watching for any downward movement for accumulation opportunities.


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## doogie_goes_off (27 June 2008)

Cuttlefish, if you still follow this one, you will get an indication that cash flow has gone positive from Que River operations to the approx tune of $1M a month with good forward hedge on Zn/Pb price, also has significant Au/Ag/Cu credit which holds up sale prices.

Accumulation time has come for me, 17c is close to the 16.5c I once told a mate they were 'too cheap' and he got on for the ride to about 46c. Not much else has fundamentally changed except the metal prices, so I'm expecting it to creep back up.


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## doogie_goes_off (17 July 2008)

The Fossey Zone at the Hellyer Project is really showing some go now, plenty of intersections with additional copper,gold and silver and good continuity. I am expecting a good resource announcement by Q4, this should see BSM turn around. Metallurgy will presumably be same as the old Hellyer mine and all infrastructure for processing and the mining lease still exists as far as I am aware. I hope we get a couple of cents today because these guys deserve a break (or breakout?).

*Diamond drill hole HLD969 intersected 20.0 metres at 8.7% zinc, 5.5% lead,
0.3% copper, 44 g/t silver and 1.05 g/t gold from 174.0 metres downhole.*


----------



## doogie_goes_off (28 September 2008)

Well I broke some fundamental trading rules and began accumulating on a downward trend, then finally Bass posts their maiden profit for a $1.8M 'suprise' for a little turn around. This without production from the last 2 months at Que River Mine which continues to produce above scheduled grades. The Fossey Zone has had more positive metallurgy which should see better recoveries than the old Hellyer operation and the Resource Estimate (presumably inferred, however I'd have thought indicated resources with metallurgy and grade continuity was possible) is due early this week. I'm hoping BSM gets back to around my average buy price at 14c, however I gues there will be a few more 'suprised' people that get onboard when the resource base of BSM doubles (that's a guess - not a fact - but it wouldn't be a suprise)


----------



## doogie_goes_off (13 October 2008)

Well I'm glad there's some positive news to keep my long term investment afloat, Bass have closed out their hedge book and have an extra $3.2M in the account. You can hardly blame them for grabbing some cash. I hope the market likes this and I can go >10c again or otherwise I will look very silly in the stock tipping comp!


----------



## Sean K (1 December 2008)

Doggie, still holding on?



MC smashed down to just $10m ish and it has $7m in the bank.....

Has an awesome land portfolio in a known development corridor, and it's actually turning a profit... 

Obviously, market factors crushing it.

Once again have to ask the question, is this a significant correction in the market in the long term industrialisation of Chindia, or the end of the world? How long before things turn around? 1 year? 5 years? 

The resource companies with money in the bank and known assets might do ok when (if) things turn about. This may be one spec that does.


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## doogie_goes_off (1 December 2008)

Holding about half my original stock. I believe BSM may still turn around, zinc price has crept back but stockpiles are significant with not much sign of demand, so these ones are in the bottom drawer so to speak. As long as OZL keeps buying Que River ore then the cash flow will remain positive so that there is money for exploration and possibly some for development of the Fossey Zone.


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## Sean K (11 December 2008)

Some in the market thought this was a good buy.

Highlights
• Binding agreement to acquire from Intec Ltd the Hellyer Mill, associated infrastructure, tailings resource and Mining Lease for $4.0M plus a Processing Royalty of $2.50/tonne processed (capped at $5.0M).
• Hellyer Mill is a 1.5mtpa flotation concentrator within 1 km of Bass Metals’ Hellyer Mine project resources and well suited to treat its polymetallic ore types to produce high value metal concentrates.
• The acquisition will be funded from cash reserves which currently stand at $8.0 million and is underpinned by expectations of continued strong cashflow from the Que River mine well into 2009, subject to commodity price and exchange rate movements.
• This is a transformational acquisition for the Company; Bass Metals will now evaluate processing ore from a variety of its projects, such as the Hellyer-Que River mineral resources and more regional prospects as well as 3rd party ores, to maximise the revenue potential of this modern, well maintained, comprehensive mineral processing facility.


Any idea of the replacement costs for such an asset doggie?


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## doogie_goes_off (11 March 2009)

$4.5M interim net profit equivalent to EPS of 4.3c, Cash reserves $7.8M, Net backing per share of $0.26, Increase in ore reserves AND set to buy the Hellyer Mill at a below market rate - Looking very promising for people who hold (like me)


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## bandicoot76 (18 March 2009)

have to agree doogie, good fundamentals, no debt, process plant acquired at bargain price and making profit even at such low commodity prices for base metals! BSM is definately one to watch and i wont be rushing to offload my holding any time soon! their shareprice has only one way to go from here is my guess!


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## gamefisherman (12 October 2009)

*Re: BSM - Bass Metals annual report 2009*

BSM just released their annual report..had a quick squizz but need to find some time to have a good look, anybody had a chance to look at it? and offer any comments..............hold as of today.......

http://www.asx.com.au/asxpdf/20091009/pdf/31l7w1j8jsrrhm.pdf

cheers


----------



## skc (12 October 2009)

*Re: BSM - Bass Metals annual report 2009*



gamefisherman said:


> BSM just released their annual report..had a quick squizz but need to find some time to have a good look, anybody had a chance to look at it? and offer any comments..............hold as of today.......
> 
> http://www.asx.com.au/asxpdf/20091009/pdf/31l7w1j8jsrrhm.pdf
> 
> cheers




MFC is a cheap way to enter BSM for anyone interested.

MFC owns 20% of BSM which has a current value of ~$6.6m. MFS also has about the same amount in cash, plus a cash flow positive project.

Their current market cap is only <$8m, so they are valued at ~1/3 of where they should be by my calculations.

You can buy MFC which is trading at the same price at their BSM holding, and get the cash / project for free essentially.


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## bandicoot76 (23 November 2009)

does anyone knowwhy BSM shares have been suspended at the moment? an announcement pending perehaps? hopefully a positive reason as this company has good potential IMO


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## skc (23 November 2009)

bandicoot76 said:


> does anyone knowwhy BSM shares have been suspended at the moment? an announcement pending perehaps? hopefully a positive reason as this company has good potential IMO




Pending cap raising. See 2nd page of announcement here.

http://www.asx.com.au/asxpdf/20091118/pdf/31m4lrk79nvwt8.pdf

If you are a holder then you may have to decide between taking up their share offer or spending on xmas presents.


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## sharezum (11 May 2011)

Nothing on this stock since late 2009.  Bass are now producing and I would welcome current opinions as I am looking for a Silver stock to invest in.


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## greggles (21 May 2018)

Bass Metals has seen slow but steady gains over the last eight or nine months. It seems to be heading towards a double top formation at about 3.5c so it will be interesting to see if it can get past that and make a break towards 4c.


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## barney (12 September 2018)

greggles said:


> Bass Metals has seen slow but steady gains over the last eight or nine months. It seems to be heading towards a double top formation at about 3.5c so it will be interesting to see if it can get past that and make a break towards 4c.
> 
> View attachment 87439



It did hit the double top as you said Greg …. Been retracing last 3 months …. Some interest off the recent lows today with positive news on Lithium grades in their "Millie's Reward Project" in Madagascar.


----------



## greggles (12 September 2018)

barney said:


> It did hit the double top as you said Greg …. Been retracing last 3 months …. Some interest off the recent lows today with positive news on Lithium grades in their "Millie's Reward Project" in Madagascar.




It appears to have spent the last month and a half consolidating between 2.3c and 2.8c. Volume was fairly high yesterday but decreased by about 50% today.

Yes, nice announcement from the Millie's Reward Project yesterday. BSM will be news driven from here I think. A break through 3c on good volume and we might test old highs, but there seems to be too many sellers at current levels.


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## rederob (1 February 2019)

When I can get some charting software to work as I did 10 years ago, I will post a chart.
It would show BSM nearing resistance at 1.6cents, having hit an annual low of 1.1cents just a month ago.
As BSM is again a real producer of something, and making a profit, albeit small, its downside is limited in the short term.
Share dilution over recent years means getting back up to 3cents is a long road.


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## frugal.rock (2 October 2020)

Here's a 3 year chart.
Noticed a volume pickup today.
Don't hold, just interested at this stage. I think there's some drilling results due soon or something, it's late e and I forgot....


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## frugal.rock (5 October 2020)

So based on a potentially large graphite play, with some drill results due soon  (next few weeks from mid Sept ann) and updated Jorc at some stage (this year?), I decided to buy and hold a small quantity of Bass.
Directors also picked up around 25,000,000 shares recently. 
Around 4 biliion shares mc, could take a while!


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## frugal.rock (18 November 2020)

A snippet...

ASX Announcement 
17 November 2020 
Bass’ concentrates achieve outstanding results for application in critical mineral technologies 

Bass Metals Limited (ASX:BSM) (“Bass” or the “Company”) is pleased to  announce its continued progression towards downstream manufacturing of advanced materials and specialty carbon products. 

Bass has recently concluded a series of advanced tests with prospective alliance partner Urbix Resources (Urbix), a leading US technology firm in the critical  
minerals and battery materials space that specializes in advanced energy storage cell designs and materials.

Bass’ commercially proven, large flake graphite concentrates, sourced from the Company’s wholly owned Graphmada Mining Complex, delivered outstanding 
purification results exceeding 99.9% for the >180-micron flake class and 99.7%  for the >300-micron flake class.


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## peter2 (18 November 2020)

BSM (the barcode chart) intends to be very* frugal* in the next quarter so that it doesn't run out of cash.


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## frugal.rock (24 November 2020)

Despite needing to be frugal, they seem to have a very nice deposit on their hands close to existing facilities. 
(Proof of Life can be found in barcodes, sometimes. 
Caution, movement can be death throws.)
Look, no barcodes! Ha.


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## frugal.rock (26 November 2020)

CLEAN, LOW COST ENERGY TO ELECTRIFY  GRAPHMADA GRAPHITE MINE

Bass Metals Limited (ASX:BSM)(the Company or Bass) is pleased to provide shareholders with an update with regard to the key governing parameters of the Graphmada Mining Complex (the Project) and the Company’s plans to  expand operations, to cater to both the advanced materials market and
traditional markets for its commercially proven graphite concentrates.

HIGHLIGHTS
• The Government of Madagascar’s is progressing a major electrification project between the capital Antananarivo and the port city of Tamatave, electrifying areas along National Road 2, immediately adjacent to the  Graphmada Mining Complex.

• Upon completion of the electrification project, valued at EUR 203 million, Bass plans to access mains power via the construction of a 20-kV powerline from the nearest substation to deliver cheap and clean baseload power to service an expanded Bass’ operation with a materially reduced operating costs.

• Graphite prices have materially improved and Benchmark Minerals are now predicting that the graphite market will fall into a supply deficit from 2023.


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## frugal.rock (22 January 2021)

I have added to my holding.
Purchased another 1.2 million on 0.005
Am expectecting a capital raise at some stage as alluded to by @peter2 in an above post, but the amount of graphite these guys are sitting on is surprising. 
Any capital raisings are expected to be getting mining operational on Graphmada.
Slow and steady wins the race.
A bottom draw stock in my opinion.

Adding to the purchase came after a consideration of selling my holding on 66% profit and moving the equity to "faster movers"... however graphites, rare earths, heavy metals etc, are all in demand and the Graphmada complex won't disappoint, it's just a slower prospect in my opinion. 
It's in my long term bottom drawer.


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## frugal.rock (24 January 2021)

Was surprised to find that Fridays trading turned into a record day out of the blue?
Largest volume day in years.
Largest volume week and month in years also.Quite impressive. 
No idea as to why.  
A five year chart.


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## frugal.rock (24 January 2021)

Went looking for other discussion...and found this link posted on HC (not a member).

https://www.never-stop-asking.com/blog/bass-metals-zero-or-100x


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## frugal.rock (25 January 2021)

Speeding ticket received today and responded to in the blink of an eye... must have anticipated that one coming eh?
Fastest turnaround I've ever witnessed. 
Don't know if thats a good thing or bad?
There's a whole gap of 29 minutes between trades...


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## frugal.rock (10 February 2021)

I see BEM is pumping....
Oooh, Madasgar and graphite!.
I wonder when BSM gets noticed properly.
Maybe the comparison isn't fair....?


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## frugal.rock (11 February 2021)

Just announced.
EXPLORATION UPDATE 
Bass Metals Limited (ASX:BSM) (the Company or Bass) is pleased to provide investors with an update regarding further exploration success at the Company’s  wholly owned Graphmada Mining Complex, located in eastern Madagascar. 
HIGHLIGHTS 
• Bass has completed a third phase of an exploration drilling program consisting of 84 shallow auger holes drilled to an average depth of 11m from surface. 
• The program delivered excellent intersections of up to 11.5m @ 5.7% Fixed Carbon (FC), including 7.0m @ 7.5% FC. 
• The low cost auger drilling confirms highly promising mineralization extends over 4.5 km long, immediately adjacent to well-established large flake graphite mining and processing infrastructure (the Graphmada Mining Complex). 
• Significant upside remains in pursuing drilling beyond these shallow drill  intercepts, as a majority of soft easily minable ore mined by Bass has occurred from surface to approximately 50 metres in depth. 
• The drilling aims to increase the current Mineral Resource to facilitate future large scale mining and processing operations at Graphmada.  
• The Company continues its care and maintenance program to retain  operational readiness of its Stage 1 plant and infrastructure.

See annoyncement for further info.


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## frugal.rock (2 March 2021)

Another exploration update.

Decent results which they are pleased with.
JORC getting updated in "the next few weeks" or by the end of March being current quarter.

Have increased my holding today.

I like the potential, especially after seeing what BEM (Black earth Minerals) share price did after a nice announcement.
(They are both graphite mining in Madagascar.)

Worth doing your own research on this one, in my opinion.


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## frugal.rock (12 March 2021)

In addition to the above, there's further drilling currently taking place. 
JORC due this month hopefully.

One may have noticed that most results so far are quite shallow at approx 12m depth being tested.

This testing is/ has been done by auger which is low cost, and shallow. 
12m depth seems to be about the maximum for auger or until harder ground is struck. 
(Results show maximums of around 12m depth for the auger drillings.)

Bass have stated that;

"A majority of the current regolith-hosted Mineral  
Resource occurs from 10-50m. To date Bass has not yet extensively tested the known hard-rock mineralization at depth."

Further;

"Bass aims to continue shallow drilling at Graphmada to test the Ambatofafana prospect which has recorded outcropping graphite up to 11% FC. 

The 131 drill  hole program has commenced and will be completed prior to undertaking an extensive diamond drilling campaign across the mineralized footprint of Graphmada." *

So unless I have wires crossed, the JORC is currently being tabulated. 
It's not a maiden JORC but will be a major upgrade I believe.

Then there's further shallow results being followed up with deeper diamond drilling. 
It's not too much of stretch to envisage that the deeper drilling could end up doubling or tripling the JORC figures with the diamond drilling testing the 10 - 50m depth ranges, which is where the
 "majority of the current regolith-hosted Mineral  Resource occurs"

I am not sure what happened with Urbix last year, but I imagine they just need quantities firmed up before making a deal. 
My best guess based on current actions by Bass.

Diamond drilling isn't cheap, so I would envisage either a deal with Urbix and mining restart based off the JORC, or a capital raise of sorts. 
I do hope they don't dilute shares further. A consolidation at some point would be in order ... get the timing right please...?!

*(Quotes from ASX Announcement 2 March 2021)


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## frugal.rock (13 March 2021)

I found this interview from Morgans around 9 months old.

With monsoon season drawing to a close soon, I can see why their priorities are to firm up resources before they restart production after covid stoppage.

Doing something while they can't mine. With plant in maintenance mode, it shouldn't be too hard to restart, however, if something routine is going to break "because it's due", a restart is often when it will happen.

I found the interview informative.


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## frugal.rock (16 March 2021)

Announcement.
16/3/2021- Market Sensitive

41% INCREASE IN GRAPHITE MINERAL RESOURCE  TO ADVANCE PLANS FOR LARGE SCALE MINING  AND PROCESSING OPERATIONS.

Bass Metals Limited (ASX:BSM) (the Company or Bass) is pleased to provide  investors with an update on the significant increase in the Company’s Mineral Resources at the Graphmada Mining Complex (Madagascar).

KEY POINTS
• The Mineral Resource for Graphmada has increased by 41% to 20.2 million tonnes (Mt) of >90% large flake graphite (>180 microns) at 4.0% Total Graphitic Carbon (TGC).

• The Mineral Resource increase was established from augur drilling at 0-10  metres depth.
Deeper drilling to 10-50 metres depth will now be  undertaken, aiming to increase the soft rock, easily mineable Mineral Resource.

• The Mineral Resource upgrade leads to a 42% increase in Contained  Graphite to 815 kt at Graphmada.

• Measured and Indicated Mineral Resources have increased by 41% to 6.2 Mt at >90% large flake graphite at 4.3% TGC.

• Initial results from a preliminary drill program at Ambatofafana are highly  encouraging, with graphite discovered outcropping at surface.

The 21 page announcement also contains a Technical Summary.


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## frugal.rock (16 March 2021)

TIM MCMANUS CEO:
“Over the last four years, Bass has made significant progress towards its objective of developing large-scale mining and processing operations at  Graphmada.

During this period, Bass has met several key milestones, including:
• the total rebuild and recommissioning of the mine and supporting  infrastructure; 

• 20 months of continuous production the establishment of a consistent sales channels for Bass product

• an enviable record for the quality of its concentrates with no tonne being 
penalized or rejected

• establishing a large and growing regolith hosted resource

• gaining of detailed production experience

• and an excellent safety and community relations record.

This significant upgrade in the resource base of the Company is another key  milestone in the development of this commercially proven resource and is another step closer to Bass’ aim to establish the Company as a globally  significant large flake graphite supplier, into both the specialty carbons and 
battery minerals markets.”


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## barney (16 March 2021)

Tried to help out today @frugal.rock   Bought a million at 007

Not a lot of Volume just yet, but might get a bit more attention with the positive Announcement

+ 40% increase in the resource is pretty impressive.


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## frugal.rock (16 March 2021)

barney said:


> + 40% increase in the resource is pretty impressive.



And that's just 0 - 10 metres depth Mr B.
As previously said, after diamond drilling from 10 -50 metres, one could expect the resource to (at the very least) double in size....

*Tripling* in size would be a safe average guesstimate in my opinion. (Previously a Surveyor, I have a little experience in this field...)


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## frugal.rock (23 March 2021)

ASX Announcement just out.
23 March 2021

BASS JOINS EUROPEAN BATTERY ALLIANCE

Bass Metals Limited (ASX:BSM) (the Company or Bass) is pleased to announce it has been accepted into the European Battery Alliance, a group created by the European Commission to foster collaboration between key participants in the battery materials sector.

HIGHLIGHTS
• The European Battery Alliance (EBA) established in October 2017 by the European Commission, the Executive Branch of the European Union, to bring together key stakeholders in the battery material, technology and
financing space with the objective to build a strong and competitive
European battery industry.

• Bass’ acceptance into the EBA aligns the Company’s strategy to become a global significant producer of graphite and advanced materials.

• Bass has an established presence in Europe having sold graphite concentrates across all specifications into the European Union inclusive of on specification Super Jumbo Flake Concentrates into Germany.

• As previously announced, Bass’ concentrates are highly suitable for use in battery anodes, due to the unique properties of Madagascan graphite1.

• With sales already established into the European Union, Bass is uniquely  placed to leverage its recently upgraded and expanded Mineral Resource2 to meet the growing demand for sustainable feedstock required to produce electric vehicle battery anodes.

• Membership to EBA provides Bass the opportunity to collaborate with key European stakeholders, and end users seeking reliable, secure and
sustainable access to battery feedstock as part of the Europe’s increasing investment in the lithium-ion battery supply chain.


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## barney (23 March 2021)

ASF alert:

Party at @frugal.rock place for the rest of the month, lol    ⬅️me) 

Nice when a plan comes together Rock ... Well done!

I see a few stale Bulls are trying to spoil the party at the 009-010 level  To be expected

Once the 010 goes (this week ??) hopefully it will be away.


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## frugal.rock (23 March 2021)

barney said:


> ASF alert:
> 
> Party at @frugal.rock place for the rest of the month, lol    ⬅️me)
> 
> ...



Cheers B, but the parties washed away...you might catch up to it downstream wrapped around a bridge pylon....

I'm hanging in there on a longer term than just a quick pop off on this one.

If the share price of BEM is any comparison, I'm holding out for at least a 10 bagger...or 7 cent.
However, not today banana, tomorrow banana.


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## barney (23 March 2021)

frugal.rock said:


> Cheers B, but the parties washed away...you might catch up to it downstream wrapped around a bridge pylon....




I know a guy who has a boat if that helps  Also in the middle of a flood as many are at the moment.

I note a few sour grapes in that "other place" about the BSM boys  and the time it's taken to get the ball rolling so to speak

Company has been in the wilderness for an extended period, but 

That's generally the best time to buy in my book

Chart looks ready to jump if it gets a good reason

Low Market Cap of around $30 million

Only about $1 million in the kitty but the ship is tightly run (May need another CR soon.  Hopefully after a price spike!)

The 009 level has been stubborn today, but the news will only be half filtered through the market today

Tomorrow's Open will hopefully paint a more positive move. Need the 010 wiped🤠


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## barney (23 March 2021)

Lol ... By the time I answered the phone and posted the above, the 010 has already been wiped

In the words of Tome Gleeson ... "Go Hard"


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## frugal.rock (23 March 2021)

barney said:


> In the words of Tome Gleeson ... "Go Hard"




Yaarrrp.
A nice show of strength. 
Supply dwindling. 
Sitting firmly with spectator style interest, holding my cards....

Oh, you tarnish this place with a mention of "that place" !


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## barney (23 March 2021)

frugal.rock said:


> *Oh, you tarnish this place with a mention of "that place" !*




Lol.

Plenty of good lads right across the Trading internet of course but ASF has the most polite participants 


One should never discount the "Sour Grape" Indicator in my experience however 

And "that place" has a few of them.

I don't frequent it a lot, but when I need a shot of Vinegar, it is often helpful





(BSM is crap. BSM is useless. What a dog of a Stock ... wha wha wha)  *Time to BUY  *lol

ps  What do you reckon the possibility of some big wig with deep pockets 
Line wiping the 30 million Shares at the 011-012 near the Close this arv?

That would really throw a spanner in the works for tomorrow's Open


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## barney (23 March 2021)

Some nice trades coming in at intervals

The *010* got repopulated a few minutes back, then one Buyer took the Line with an *$88,000* swipe. Nice🤠

Better than watching TV


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## frugal.rock (23 March 2021)

barney said:


> ps What do you reckon the possibility of some big wig with deep pockets
> Line wiping the 30 million Shares at the 011-012 near the Close this arv?
> 
> That would really throw a spanner in the works for tomorrow's Open



What's this spanner you speak of?

Might be some oil on the squeaky wheel bearings....?

Will be an interesting final close today. 
Closing on strength thus far.
Average buy in price has ended up being somewhere around 0.0103 today  (guesstimate).


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## frugal.rock (23 March 2021)

I see Bass has made it to the top of the gainers list on
investing dot com today...






And 2nd place on Westpac list.


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## barney (23 March 2021)

barney said:


> ps  What do you reckon the possibility of some big wig with deep pockets
> *Line wiping the 30 million Shares at the 011-012 near the Close this arv?*




Mmmm    Interesting  

Gotta love Spec behavior🤠

Will it continue ... Who knows!!??


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## frugal.rock (24 March 2021)

CEO commentary in yesterday's (Tuesday) announcement.

TIM MCMANUS CEO

“Bass’ sale and delivery of graphite concentrates into the European market demonstrates commercial acceptance of the Company’s product, and supports its strategy to become a *globally significant advanced materials supplier, inclusive of battery anode feedstock.*

With Bass’ acceptance into this alliance, on the back of successful trials with Urbix Resources achieving 99.9% carbon4, Bass sees this as another significant 
step in developing its *graphite and lithium projects* to meet the unprecedent demand forming in the battery minerals space.”

It's a keeper.


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## barney (24 March 2021)

What do you think the boys are buying FR?

The Company provides the following information in relation to the request: 

• The request for the Trading Halt is pending the release of an announcement regarding a proposed acquisition.


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## frugal.rock (24 March 2021)

barney said:


> What do you think the boys are buying FR?



Dunno?
One bigarse walk-in vault to store all the potential future earnings ?


Probably more to the point is, how are they going to fund this mysterious acquisition?

I know from last quarters financials (end Dec 2020), they said they had 2 quarters of funds left, however that was based off previous higher expenditures and moving forward was going to be much lower outgoings.

However, I figure they will need a little more working cash to get through the planned diamond drilling (only 10- 50m though) and this aquisition, whatever it may be.

With the shallow diamond drilling, the cost to result factor will be very productive considering the "potential" substantial increase of resource from it, almost a given IMO.

Not sure when they will start production again either, which was suspended due to covid restrictions/ difficulties.

I would think production will start again very soon as they are nearly out of monsoon season and we just got all the rain.... Ha!


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## barney (24 March 2021)

You could be right about the CR soon FR.  I thought similar.

Maybe the "acquisition"  might be in parallel with a CR.  I think punters would take to that ok rather than just a straight  cap raise. 

See how she rolls on Friday 🤠


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## frugal.rock (24 March 2021)

Natural graphite requirements  expected to increase 7 fold.
See dot points.








						Top 14 UBS battery metals forecasts after VW teardown
					

UBS says ID.3 is the “most significant bet on EVs made by any legacy carmaker to date” prompting a super bullish upgrade to demand for lithium, nickel, cobalt, rare earth and graphite




					www.mining.com
				




Older announcement from late 2019... they were ahead of the game.... 


			https://www.asx.com.au/asxpdf/20191126/pdf/44by67p08jy230.pdf


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## barney (24 March 2021)

frugal.rock said:


> Natural graphite requirements  expected to increase 7 fold.




Yeah. If the boys at the helm can prove up a decent resource upgrade with the upcoming diamond drilling, this could really start to take some shape down the track.

Time to put the foot down now as much as possible


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## frugal.rock (26 March 2021)

Well, no announcement as yet this morning.
So according to the trading halt request, it should trade as normal on open today, unless the announcement is lodged in the next few minutes.

A little unusual?

Edit; no announcement as yet, but not trading either.
Wait for an announcement then eh?


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## frugal.rock (26 March 2021)

Ta da....

ASX Announcement 
26 March 2021 

BASS METALS SIGNS BINDING TERM SHEET TO ACQUIRE THE SAN  JORGE LITHIUM BRINE PROJECT IN ARGENTINA 

HIGHLIGHTS 
• Bass signs a binding term sheet to acquire Blackearth SA  

• Blackearth SA holds an option agreement over the San Jorge Lithium Brine Project located in Catamarca province, Argentina 

• San Jorge project consists of 15 granted exploration licenses covering 36,600 hectares 

• All consideration to Blackearth SA payable in Bass shares 

• Purchase of San Jorge project marks another milestone in positioning Bass as a fully integrated producer of key battery materials 

• Bass has an extensive work program planned for the San Jorge project

Giddy up, yeeehaaaa.
Happy to hold on this lovely priced "speccie".


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## Sean K (26 March 2021)

frugal.rock said:


> Ta da....
> 
> ASX Announcement
> 26 March 2021
> ...




Looks like a pretty prospective area for Lithium. In the 'lithium triangle' but it doesn't really look like a triangle to me.


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## frugal.rock (7 April 2021)

ASX Announcement 7 April 2021

BASS CONTINUES ADVANCED MATERIALS STRATEGY WITH AGREEMENT TO DEVELOP  
SPECIALTY CARBON COMPOSITE TECHNOLOGY

Bass Metals Limited (ASX:BSM) (the Company or Bass) is pleased to announce  it has reached an agreement with leading advanced material researcher Swinburne University of Technology (Swinburne) for the development of  Specialty Carbon Composites using Bass’ concentrates for the manufacture of various advanced materials using both Expandable Graphite and Graphene.  

HIGHLIGHTS 
• Bass and Swinburne have signed a Master Research and Development Agreement (the Agreement) to develop advanced materials using both Expandable Graphite and Graphene from Bass’ premium concentrates. 

• The key objective of the first collaboration is to create a patentable, environmentally friendly, advanced fireproof paneling product from purified Expandable Graphite and Graphene, with a focus on mechanical strength and fire retardation. 

• Bass is uniquely placed to service the rapidly growing advanced materials sector having a demonstrated record of commercial production of clean,  
large flake concentrates; the two main constituent properties of  
Expandable Graphite and Graphene. 

• The first project under the Agreement has commenced, with Swinburne having received its first batch of graphite concentrates from the Company’s operations in Madagascar, to commence purification optimization and Expandable Graphite and Graphene manufacturing. 

• Bass remains in discussions with several groups and has a Memorandum of Understanding (MOU) in place with leading US graphite technology  company Urbix Resources LLC (Urbix) regarding potential off-take arrangements, based on recently received outstanding test results relating  to the purity of its concentrates 1.


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## barney (7 April 2021)

Morning Market Depth certainly looks a bit healthier pre-trade.

I see BEM had a nice bump again yesterday. Lets hops BSM follows suit for you @frugal.rock


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## frugal.rock (13 July 2021)

ASX Announcement 
13 July 2021 

BASS METALS REACHES AGREEMENT TO ACQUIRE THE SAN JORGE LITHIUM BRINE PROJECT IN ARGENTINA 

HIGHLIGHTS 
• Bass has reached agreement to proceed with the acquisition of Andes Litio SA (previously Blackearth SA) which holds an option agreement over the San Jorge Lithium Brine Project. 

• San Jorge project consists of 15 granted exploration licenses covering 36,600 hectares in the Catamarca province, and located in Argentina’s prolific Lithium  
triangle. 

• Bass will shortly commence an exploration programme at San Jorge. 

• The San Jorge Project is a key part of Bass’ strategy of providing a comprehensive and integrated exposure to Lithium, Graphite and Advanced Graphite Materials.  
• Bass will continue to develop its graphite resources at Graphmada and pursue Advanced Materials applications for its high quality graphite.


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## barney (13 July 2021)

The lads appear to be having a go @frugal.rock but the Market is not getting overly excited

Consolidation/Split is 19th July, yes?   50:1 will see 0.005 = 0.25 cents per share?

Hopefully once the SOI are lowered and the per tick ratio becomes bearable, the punters might return 

Currently 1 tick = around 20%  (0.005 - 0.006)   Post consolidation a 1 tick move ( 0.005  ie. 0.25 - 0.245 ) = just 2%  

Big difference!   Lets hope that is the case.  Good luck with it.


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## System (28 July 2021)

On July 28th, 2021, Bass Metals Limited (BSM) changed its name and ASX code to Greenwing Resources Limited (GW1).


----------



## Ann (30 March 2022)

Perhaps one for the watchlist? Graphite.


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## frugal.rock (30 March 2022)

Sure, but it's changed its name and consolidated....
we know how you feel about that now.






						Share Consolidation - Legal Theft
					

Until you as a shareholder experience a Consolidation of shares you will never be able to appreciate the feeling of being legally robbed of multiple thousands of dollars. It works this way. Buried in one of the annual reports or interim reports there will be a notification of a motion for...




					www.aussiestockforums.com


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## Ann (30 March 2022)

frugal.rock said:


> Sure, but it's changed its name and consolidated....
> we know how you feel about that now.
> 
> 
> ...





UUuurrrgh!  
	

		
			
		

		
	






 Still might have some upside for traders. I haven't been doing any background checks FR, just wacking stuff up onto ASF as I come to it, after doing a stock screen search on IC. Not in a buying mood, just a charting mood!


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## greggles (26 September 2022)

Very interesting deal struck between GW1 and NIO Inc. 



> NIO has agreed to pay A$12,000,000 to Greenwing to subscribe for 21,818,182 Greenwing shares at a deemed issue price of A$0.55 per share (Placement) and a call option to acquire, at NIO’s election, between 20% to 40% of the issued capital of Andes Litio SA (Andes Litio), which holds options rights over the San Jorge Lithium Project (Call Option).




On Friday GW1 closed at 24.5c. For NIO Inc. to have valued GW1 shares at 55c at a time when they were trading at less than half that, they must have a strategic reason for the transaction, specifically related to the San Jorge Lithium Project. 

As explained by the announcement, "NIO designs, develops, jointly manufactures and sells premium smart electric vehicles, driving innovations in next-generation technologies in autonomous driving, digital technologies, electric powertrains and batteries."

Securing a future supply of lithium is clearly in the interests of a company in the EV business. 

Superficially this looks like a good deal for GW1.


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## frugal.rock (Yesterday at 11:30 AM)

The above has been completed.
Announced today.



On 26 September 2022, Greenwing Resources Ltd (Greenwing or the Company) (ASX: GW1) announced that it had entered into a strategic funding transaction with NIO Inc. (through its  wholly owned subsidiary, Blue Northstar Limited) (NIO).  
Greenwing is pleased to announce that it has completed the placement of *21,818,182 *fully paid ordinary shares to NIO for in aggregate A$*12,000,000. *Greenwing has also granted a  call option to NIO to acquire, at NIO’s election, between 20% to 40% of the issued capital of  Andes Litio SA, which holds options rights over the San Jorge Lithium Project. 
As at completion, NIO holds a shareholding of 14.7% based on the Company’s current issued  
capital.


----------

