# ZAG - Zuleika Gold



## System (17 August 2010)

Dampier Gold and its wholly owned subsidiary, Dampier Plutonic, have the right to acquire a package of prospective tenements covering nearly 700km² of a gold bearing Archaean greenstone belt in central Western Australia under the terms of a conditional Asset Sale Agreement with subsidiary companies of Barrick Gold Corporation.

The Tenements are located in a province with a rich gold endowment and relative immaturity with respect to the other major goldfields in Western Australia, with the first gold discovery only made in the late 1980s.

http://www.dampiergold.com


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## barney (12 January 2012)

Interesting stock .....

Director Phil Retter "exercised" *900,000 options@ 20 cents *on 31st December ... thats a lazy *$180,000    *This now gives him about 3.5 million shares in the Company and makes him a substantial shareholder  ...... 

Dampier's tenements look very well positioned ..... The Plutonic Dome Project was purchased from, and is directly NE of Barricks Plutonic Gold Mine,  and already has a resource estimate of *500,000*+ oz gold  ...... about 30klm NE of Sandfire's Degrussa.

Management team look first rate and some have ties to Barrick, and will be able to negotiate use of their processing plant when needed.

Market cap only $11+ million ....... maybe a little more after today, as its currently up over 15% (on low volume)

I like it .... I bought some


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## barney (17 January 2012)

Thinly traded stock this one, but the latest announcement is starting to make these tenements look very interesting. 

As quoted by management of Dampier .....  "The Company is pleased with the outcome of the Cinnamon resource estimate which *comfortably surpassed *the magnitude of the exploration target disclosed in Dampier’s IPO prospectus.

They also state they have discovered a previously unknown footwall during recent drilling.  Current Gold resource now over 600,000 ounces with a lot of exploration to come.  Happy to hold this one for a while


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## sunnysyd (17 January 2012)

As mentioned by barney it's quite a thinly traded stock in a fairly consistent downtrend. At least it's formed what appears to be a bit of a base and technically it would help if it broke above and closed above the 30 cent level. Volume is very weak on the market depth side of things.


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## Crom (18 January 2012)

I hold and have been accumulating at the low levels for a while.  Thinly traded yes but then there are also only 54 million shares (unlike the mega millions of other gold hopefuls) so many like me not in a hurry to sell.

This company has good management, increasing reserves, good green and brownfield exploration upsides, high grades, and has a framework agreement with the nearby Barrick's processing facility.

It also has a very low ev/oz.

Production and therefore cash flow can not be that far away.

This has been a good buy for me and happy to hold now as it starts hitting the radar of investors and maybe even bigger companies!


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## barney (18 January 2012)

sunnysyd said:


> As mentioned by barney it's quite a thinly traded stock in a fairly consistent downtrend. At least it's formed what appears to be a bit of a base and technically it would help if it broke above and closed above the 30 cent level. Volume is very weak on the market depth side of things.




Agree that 30 cents could be the pivot/springboard  ...... and welcome to ASF "Syd"



Crom said:


> I hold and have been accumulating at the low levels for a while.  Thinly traded yes but then there are also only 54 million shares (unlike the mega millions of other gold hopefuls) so many like me not in a hurry to sell.
> 
> This company has good management, increasing reserves, good green and brownfield exploration upsides, high grades, and has a framework agreement with the nearby Barrick's processing facility.
> 
> ...




Agree 100% Crom ...... If the Spec end of the market starts to pick up, the lack of supply means this could run very hard before anyone has a chance to get on.  Very little resistance to overcome back to 40 cents.

Current market cap of around $13 million ...... Cash in the bank of around $8.5 million .... and Gold in the ground! ..... No brainer for me; just a little patience required.


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## Macros (18 January 2012)

Wow this looks seriously mis-priced.

627,500 oz in the ground... almost for free? Even at $100/oz that is over $62m.


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## suhm (18 January 2012)

Doesn't seem to have a plan to develop these deposits though.


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## Macros (18 January 2012)

They appear to be connected to Barrick with CEO ex Barrick and Barrick part-ownership, so would use OPA with Barrick's mill.


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## barney (23 January 2012)

Macros said:


> Wow this looks seriously mis-priced.
> 
> 627,500 oz in the ground... almost for free? Even at $100/oz that is over $62m.





:iagree:

I like the look of the 26 g/t in hole DK2RCD0003 from their announcement today 


Further high grade mineralisation intersected at K2 Deeps

*Highlights include*;
Main Lode:
DK2RCD0003: 7.0m at *16.6g/t Au *(from 226m)
incl: *4.0m at 26.0g/t Au*
DK2RCD0006: *1.0m at 21.7g*/t Au (from 236m)
Central Lode:
DK2RCD0004:* 3.7m at 8.8g/t Au *(from 189m)

http://imagesignal.comsec.com.au/asxdata/20120123/pdf/01261426.pdf


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## barney (21 March 2012)

Macros said:


> They appear to be connected to Barrick with CEO ex Barrick and Barrick part-ownership, so would use OPA with Barrick's mill.




This is correct.  Very cost effective path to quick production

Hard to get much stock on this one under 25 cents ... Someone took out the 148,000 on offer in one hit early this morning.

If I had to pick one Spec I thought would run at some point this year, this would be it.  They have a lot of Gold in the ground, but it wouldn't surprise me if their Apex copper deposit ended up being the jewell in the crown ......... Not that far from Sandfire's Degrussa mine, and showing early indications of replicating VRX and SRI deposits  .... Happy to hold this one


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## barney (6 September 2012)

DAU has been hammered along with everything thing else up until the last few days ...... The recent resource upgrade added another 50,000 odd ounces of gold and saw a few buyers jump in ........ Looks reasonable value at these levels if you can get any stock


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## Telamelo (3 August 2016)

DAU alert on push above .03c (previous resistance) ... nice strong close @ .033c (+13.79% i.e. high of the day) on excellent volume of over 1.41million traded (bonus being tightly held with only 95M shares on issue!).

http://au.investing.com/equities/dampier-gold-ltd

Also, AUD gold price has now pushed above $1,800oz or about US$1,366oz

https://www.bullionlist.com.au/

Please DYOR as always ........ Cheers tela

---------------------------------
From 28/07/16 Quarterly extract:
"The principal focus during the quarter was the sale of the Company’s interest in the Plutonic Dome Gold Project (Project), together with the evaluation of other investment opportunities for Dampier.

Plutonic Dome Gold Project:
On 3 March 2016, shareholders approved the sale to Vango Mining Limited (Vango) of the Company’s interest in the Project for the following consideration:

(a) Non Contingent Component: $2,200,000 (excluding GST) to be paid on settlement.
(b) Contingent Component The following amounts to be paid by Vango within 7 days after
the occurrence of the following events:
● $1,000,000 (excluding GST) on production of a total of
45,000 ounces of gold from the Project tenements;
● $1,000,000 (excluding GST) on production of a total of
100,000 ounces of gold from the Project tenements;
● $1,000,000 (excluding GST) on production of a total of
200,000 ounces of gold from the Project tenements; and
● $1,000,000 (excluding GST) on production of a total of
300,000 ounces of gold from the Project tenements.

(c) ROYALTY
Vango to pay a royalty in cash or gold on overall production from
the Project tenements as follows:

1.0% on each ounce of gold produced from the Project tenements as of the date
of issue of the mint receipt, calculated at the London Spot Fix AM (USD/oz) on
that day, where the London Spot Fix AM (USD/oz) is equal to or greater than
US$1,175/oz, or
● 2.0% on each ounce of gold produced from the Project tenements as of the date
of issue of the mint receipt, calculated at the London Spot Fix AM (USD/oz) on
that day, where the London Spot Fix AM (USD/oz) is equal to or greater than
US$1,250/oz, or
● 3.0% on each ounce of gold produced from the Project tenements as of the date
of issue of the mint receipt, calculated at the London Spot Fix AM (USD/oz) on
that day, where the London Spot Fix AM (USD/oz) is equal to or greater than
US$1,400/oz, or
● 4.0% on each ounce of gold produced from the Project tenements as of the date
of issue of the mint receipt, calculated at the London Spot Fix AM (USD/oz) on
that day, where the London Spot Fix AM (USD/oz) is equal to or greater than
US$1,500/oz.

The royalty is capped at $2 million.

*Settlement for the sale has commenced and the parties expect it to be finalised in early August 2016.

**Completion of the sale of the Project will give Dampier unencumbered >$4M in cash, the prospect of additional cash payments and a royalty stream with the development of the Project.

During the quarter, Dampier reviewed several potential new business acquisitions.

Assessment of other acquisition opportunities, as and when they may arise, will continue."


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## Telamelo (4 August 2016)

DAU +9.09% @ .036c (noting a recent substantial holder increased their stake up to 13% in having paid .045c I think from what I read) .... Please DYOR as always

Cheers tela


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## greggles (18 September 2018)

Dampier Gold announced this morning that it has been served with a bidder's statement filed by Vango Mining Limited dated 17 September 2018 which sets out the terms of an unsolicited, conditional offer to  purchase all of the fully paid ordinary shares in Dampier. The offer is 2 Vango shares for every 7 Dampier shares. The Board of Dampier is considering its response to the offer and has advised its shareholders to take no action in relation to the offer or any document received from Vango in relation to the offer until  they receive the Directors' formal recommendation.

The all scrip bid by Vango Mining values Dampier Gold at 5.4c based on Vango's current share price of 19c. Given that Damier Gold has essentially flat-lined since 2013 and hasn't seen a share price of 5.4c since then, the offer seems a reasonable one.

The DAU share price is up 23.33% to 3.7c so far today. Given that Vango has offered a scrip value of 5.4c per share for DAU you would think the current share price would be a little close to the bid price. Interesting.


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## greggles (28 October 2020)

Dampier Gold announces "spectacular results" from its Phase 2 Aircore drilling program at the Paradigm East Project.

Details are:






DAU has surged to a high of 12.5c this morning following the announcement and is currently trading at 9.4c. Looks like the resource at Paradigm East keeps on expanding. Management's aggressive drilling strategy is really paying off.

Exciting times with more drilling to come at the Zuleika Project in the coming months. It's nice to see DAU finally coming good after years of going nowhere.


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## System (9 February 2021)

On February 9th, 2021, Dampier Gold Limited (DAU) changed its name and ASX code to Zuleika Gold Limited (ZAG).


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## greggles (19 January 2022)

After a 15 month long, slow steady decline from 7c to a low of 2c, Zuleika Gold has finally broken the relentless downtrend following news that prominent West Australian prospector and investor Mark Creasy (through his company Yandal Investments Pty Ltd) has invested $3 million in ZAG via a private placement of 100,000,000 FPO shares at 3c a share.

Zuleika has been involved in messy litigation with Vango Mining Limited that is due to go to trial in the first half of this year. The litigation has weighed heavily on ZAG and has been at least partly responsible for its share price decline.

On the mining side of things, ZAG has been finding gold at its flagship Zuleika and Credo Projects and drilling is ongoing with further aircore and RC programs about to commence.

The ZAG share price is up from 2c late last week to a high of 3.9c today. Sentiment looks to be turning around, but I suspect the market would like the Vango litigation to be over with, as it certainly represents a lot of uncertainty with regard to the company's future.

An interesting company that could have some potential in 2022 if upcoming drilling results and the Vango litigation go its way.


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