# GIR - Giralia Resources



## kariba (11 March 2006)

IMO, GIR is very undervalued. While they are spinning all their U leases into U308, they are holding onto the Lake Frome/Beverley leases. This indicates a lot! Their Lake Frome EL's are MASSIVE! They include large blocks of uranium bearing leases that surround AGS' newly discovered deposit, & both South & West of the Beverley mine

Evidently during the "dot-com" boom, they went on an accumulation binge, buying up exploration leases cheaply. Hence, the vast amount of EL's they have been able to float. They still hold a swag of them too! Hats off to smart management who were then willing to pass on benefits to shareholders.

I have taken a strong position along with AGS

Regards


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## rub92me (7 November 2006)

I think it's time this one gets a mention. They have been very good at capitalising their assets over the past year with 3 spin-offs, and still hold a good portion of PMH. Has been ticking up nicely over the past week. I've been holding for almost a year, so may take some profit with reduced tax soon...


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## REA (20 December 2006)

This Company had a positive announcement today and as a result the shares have moved.    They are also breaking off part of their Company and will be offering shares to their shareholders in the new year.  Such a lot of good opportunities around not enough money.


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## Devil_Star (20 December 2006)

REA said:
			
		

> This Company had a positive announcement today and as a result the shares have moved.    They are also breaking off part of their Company and will be offering shares to their shareholders in the new year.  Such a lot of good opportunities around not enough money.




I just bought GIR again on the date it annouced the spin-off of the zinc co. So happy to see another bullish discovery today. Any idea about the record date for the prority share offer of the new zinc co.?


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## Sean K (3 August 2007)

I first bought this a couple of years ago on it’s U potential, which was IPO’d, but it’s really a polymetallic company with some significant iron potential. Time to revisit I think.

158m shares @ 80c = $126m cap
Cash $10.5m
Investments valued at $36m
Top 20 shareholders own 55%

---------------------------------------------------

*Overview from the company*

Giralia's primary objective is the discovery of significant precious and/or base metals mineralisation through the identification, acquisition and exploration of targets with the potential for world class mineral deposits. 

Shareholders have exposure to a multi-commodity portfolio of mineral exploration properties in Australia and overseas, which the Company acquired at the bottom of the market. Where clear, high potential targets amenable to rapid testing are identified, Giralia seeks to maximize its involvement by sole funding exploration programs on 100% owned projects to accelerate development. Over 42,000 metres of drilling were completed on the Company's tenements in 2005.

Giralia has unlocked substantial shareholder value through commodity specific spin-offs, and holds significant interests in PMH and RHI, and UTO. They’ve also announced the intended spin-off of its zinc assets into Zinc Co Australia Limited.

------------------------------------------------

They have so many projects that I don’t know how they keep track of them. (See map below, to be more confused)

For this discussion I’m going to briefly mention all of them, but concentrate of their Iron assets, as fe is the flavor of the month.

--------------------------------------------------

*Iron Projects (other than RHI investment)*

*Earaheedy, Western Australia (Zinc, Iron Ore)*
Australia’s second largest iron formation belt.
100% owned project with ore grade zinc intersections and high grade iron at surface.
75m @ 62% fe
Aeromagnetic survey Aug 07
Approvals for drilling awaited

*Western Creek*
Pilbara, 10km w of Newman, adjoins BHP Mt Newman Western Ridge. Prairie Downs deposit to the west. Potential in Hamersley and Archaean BIFs, and for CIDs.

*Deebyn - Weld Range Mid West Iron Ore Provence*
Outcropping DSO Hematite directly along strike from MWE/Sinosteel JV – 50-70m @ 63-67% fe.
GIR drilling in may included hits of  30-36m @ 60% fe, from 6-70m depth.
Main hematite zone 25- 45m thick.
65% of assays returned, the remainder are overdue.
Further drilling planned this half for an initial resource.

Also:
Beebyngana Hill untested Hematite zones, 11km of BIF strike, surface samples to 60% fe – potential. Not much detail on this.

*McFee Creek*
200km SE of Port Headland. Two known prospects, on CID 3.5 km long with surface grades 58.7% fe, drilling up to 57.3% fe. Also, 8km of Achaean BIF up to 1km thick with a known zone of hematite enrichment. 
Resource drilling in this half.

*Yerecoin*
150km N Perth, 1km from rail. Archaean BIF with up to 5km strike inferred aeromagnetics, with widths 30-50m, grades 35-48% fe. Test work in progress. 

-----------------------------------------------------

*Other projects*

*Snake Well, Western Australia (Gold, Zinc)– *
100% owned advanced gold project , with existing gold resource of 2.49 million tonnes @ 2 g/t Au, plus numerous immediate drilling targets along a 15 kilometre magnetic unit with RAB and RC intersections including 8 metres @ 25.3 grams per tonne gold, 13 metres @ 6.32 grams per tonne gold, etc. Nearby felsic volcanics host high grade zinc intersections.

*Daltons, Western Australia (Nickel, Platinum Group Elements - PGE)*
Giralia has earned 75% interest in 2 tenements in the Pilbara block of WA, with high grade nickel intersections in previous drilling, and surface gossans with extraordinary PGE grades. Falconbridge has agreed to farm-in to explore regional targets for nickel sulphides, with Giralia and Haoma retaining the Kingsway prospect.

*Lake Frome, South Australia (Uranium) *
Tenements surround operating Beverleys in-situ leach uranium mine; very prospective for extensions/repeats. Giralia free carried at 25% to decision to mine.

*Ashburton, Western Australia (Gold) *
Key landholding in exciting new gold province. (Total of $4.7 million in partner funded exploration).

*Blue Rose, South Australia (Copper, Gold)*
Major joint venture with widespread copper, gold anomalies and geophysical targets. RC and RAB/aircore drilling returned significant intersections including 24 metres @ 2.14% copper and 48 metres @ 1.01 grams per tonne gold, 0.82% copper.

*Munro Bore, Western Australia (Gold) *
Highly gold mineralised property; many ore grade and width drill intersections.

*Yuinmery JV , Western Australia (Gold) *
Control of almost entire Archaean greenstone belt. Untested high order gold in soil anomalies.

*Kathleen Valley JV , Western Australia (Gold, nickel, tantalum)* 
Gold resources and nickel, tantalum prospectivity 5 kilometres from the Cosmos nickel mine. Drilling on gold targets in mid 2002 returned high grades, including 5.9 metres @ 12.1 grams per tonne gold.

*Cardinals and Mt Alexander Western Australia (Copper, Zinc, Lead) *
Advanced 90%-100% owned base metals projects with ore grade drill intersections.

*Mt James (Clevermary/Big Bend) , Western Australia (Gold, zinc)*
Two contiguous tenements in the Gascoyne Province. Clever Mary covers a 'greenstone hosted' gold prospect with ore grade/width intersections. Big Bend is a possible 'sedex' zinc occurrence in Mid Proterozoic sediments. Talisman Mining NL has agreed to earn 60% interest.

*Beebyn and Avoca Downs, Western Australia (Gold)* 
Large 100% owned gold prospective tenement packages in the Murchison and Eastern Goldfields provinces, covering under-explored major mineralised structures.

*Dicky Lee/Albury Heath, Western Australia (Gold) *
Royalty interest in granted mining leases covering gold resources close to an operating mill.

*Bocrabee Hill, Western Australia (Copper, lead, zinc)* 
Giralia retains a 15% free carried interest in this base metals prospective property on the western edge of the Paterson Province.

-----------------------------------------------------------

*Investments (see slide below for more details)*

PMG (11%)
RHI (16%)
UTO (12%)
ZNC (62%)

------------------------------------------------------------

*Anyone care to put a value on all of these projects?*


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## Sean K (21 August 2007)

Recent anns:

*PMH*
14 Aug

IP survey has identified a major new Cu/Mo target at the Netley Hill Prospect within the Blue Rose JV, in SA.
Target is 3000x1000x400.
Previous Cu/Mo drilling results from above anomaly intersected Cu/Mo open in all directions.
10 drill hole program planned.

*ZNC*
14 Aug

Conquistador Project
VHMS Project

A new zone of mineralisation intersected 140m south from previous drilling:
21m @ 3.14% Zn, .68%  Pb, 1.08 g/t Au, from 134-155m, including
	2m @ 8.49% Zn, 2.94% Pb, 0.35 g/t Au, and
	1m @ 12.21% Zn, 1.17% Pb, 12.1 g/t Au 
Hole terminated in high grade Zn at 155m.

Previous drilling has returned:
4m @ 8.25% Zn, 20.5 g/t Ag, .53% Cu, .63% Pb from 88m
6.7m @ 6.1 % Zn incl 2m @18% Zn from 118m
2.4m @ 12.5% Zn, .65% Cu, .63% Pb, and 27.5 g/t Ag from 135 m.


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## ongchuan (24 August 2007)

This company is currently under my radar. Looks terribly undervalued i guess. The SP is going south as the days go. I dunno when it will reach the bottom but i hope it will keep its way down to 30 cents. Probably I will pick up hell lots of it and keep for long term. It is another great company with lots of good prospects!!! Something like CUL i guess. Massive amounts of projects going on with HEAPS of cash in the bank. Hopefully it will keep going down!!! Yeah....I am gonna pick up MORE@@@@@


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## prawn_86 (4 September 2007)

Im just looking into these guys now, and does anyone have more info on the management team, apart from what is on their website?

They have so many projects it must be hard for them to decide which ones to focus on!


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## Sean K (11 September 2007)

On the surface of it, these guys seemed to have been punished quite severely during the correction. With so many projects and investments with high potential, I have to wonder why. 

Need to do some more research here.....


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## Dukey (18 September 2007)

MMmm - this one is very interesting!!!  Have to agree with Kennas - unfairly punished recently and looks to be turning back up - 55c now.

Announcement out today (here) on good haematite ore grades (>60%) in Beebyn-weld range project - right next to midwest/sinosteel JV. Looks to be plenty more potential just to the south there too. And with all the other projects on the go....
... well  - I'd be in If I had some spare cash


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## Dukey (24 September 2007)

Giralia charging so far today - up 9.5 c on fridays close to 68c at the mo. 
not sure if it qualifies as a breakout - someone more qualified than me can assess that. But it is certainly an impressive turn around since august (~50c).

anyone watching?


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## Sean K (24 September 2007)

Dukey said:


> Giralia charging so far today - up 9.5 c on fridays close to 68c at the mo.
> not sure if it qualifies as a breakout - someone more qualified than me can assess that. But it is certainly an impressive turn around since august (~50c).
> 
> anyone watching?



Yep. Looks like they've got about 7km of the strike of the Widwest/Sinosteel Weld Range prospect at their Beebyn Project. Would have to speculate that they'll either buy it off them, or farm in.


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## Sean K (11 October 2007)

I'm still not sure what to make of this company. Are the an investment house or do they want to actually mine anything themselves?

Great ann from PMH this am with great cu/mo intersections, resulting in this jump.

I almost posted this cup and handle a day or so ago, but now I'll paste it up for interest sake......


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## Dukey (11 October 2007)

They are professional 'spinners' aren't they.  Spin off everything as soon as they can. Seems to be a successful approach for them - with that huge swag of tenements.

I had a buy in for this (for my Dad) a couple of weeks back - but set my price to low.    .  Missed out on 30 odd % gains by being a tightarse!!!!!!!!!

Oh well - lesson learned.
Could be more to come I guess - 'classically speaking' whats the next move after C&H?


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## Sean K (16 October 2007)

Good ann out on more fe results. 

Chart update below. Not much different but interesting to watch it unfold.

For me anyway. :


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## Dukey (16 October 2007)

kennas said:


> Good ann out on more fe results.
> 
> Chart update below. Not much different but interesting to watch it unfold.
> 
> For me anyway. :




Another +ve thought with GIR is that this Iron resource is right next to Midwest - who might be gobbled by nearly Murchison. Murchison have stated or implied that they may well be looking to drive more 'consolidation' among Fe miners.  So.....   GIR's resource would make a perfect target for them somewhere down the line ... yes????


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## Sean K (22 October 2007)

kennas said:


> Good ann out on more fe results.
> 
> Chart update below. Not much different but interesting to watch it unfold.
> 
> For me anyway. :



 This has almost played out to a tee. Damn it!! Will come off with everything else today I suppose. 

Got a speeding ticket after the jump. Explained away by the MIS/MMX story and likelihood of further consolidation. Wouldn't be surprised if their Beebyn- Weld Range project is farmed in by the new team Dukey...


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## Dukey (22 October 2007)

kennas said:


> This has almost played out to a tee. Damn it!! Will come off with everything else today I suppose.
> 
> Got a speeding ticket after the jump. Explained away by the MIS/MMX story and likelihood of further consolidation. Wouldn't be surprised if their Beebyn- Weld Range project is farmed in by the new team Dukey...




Yeah.... still crying in my dads home brew over missing this one....

I'll definitely be watching GIR closely over the next few weeks - They just have too many fingers in too many pies to ignore them much longer......  some of those fingers have to be on the money!!!!!!   and their  spin-off strategy seems to work well.  
watching for any consolidation/correction.


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## johnmwu3 (2 November 2007)

GIR---The next FMG is born  !

1 billion ton hamatite iron ore Target  !!!!!

Giralia has a 100% interest in 570 square kilometers in the Miss Fairbairn Hills area.

The company's target is '' one billion tonnes ''........this iron ore province is said to have the second largest accumulation of iron ore formations in Australia.


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## speculator101 (14 November 2007)

Hi all. Just wondering if anyone might hazard a guess as to what would happen if the takeover of Midwest by Murchison fails... Does that mean an increased possibility of something happening between GIR and MIS, farm in... etc? 
The share prize went crazy 2 weeks ago, a high of $1.83.


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## grace (16 November 2007)

I think it is essential that the management of MMX and MIS reach agreement (in terms of the money that needs to be spent on infrastructure to ramp up, it is essential for the outcome of both - cost savings etc).

Giralia could farm-in with MIS on Beebyn-weld range.  They also have another deposit just to the south to drill.  To mine Earaheedy once they prove up reserves (north of Wiluna and further west than Weld Range/Jack hills), they will need that rail line built by the merged group to mine (unless they go north/west).  Does anyone have any idea as to the geographical solutions?  I'm a bit lost with all of this.   After looking at FMG's cost on rail line,  everyone needs to cost share!


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## grace (27 November 2007)

There is a lot of news to come from Giralia before Christmas
-  first ever assay drill results x 40 on Eeraheedy iron ore (where they hope to prove up +1billion tonne of DSO)
-  initial JORC resource for Beebyn/weld range (next to MIS)
Hopefully, this should see an upward move in SP when these announcements come through for some Christmas cheer!


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## louisapple (28 November 2007)

gday mate seems to be a good day for gir but price disappoint me a bit, but no worry a series good news goning to come out and most important thing is build up investor's confidence it is a really a good stock  isn't it


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## grace (11 December 2007)

louisapple said:


> gday mate seems to be a good day for gir but price disappoint me a bit, but no worry a series good news goning to come out and most important thing is build up investor's confidence it is a really a good stock  isn't it




Note that first round of Eeraheedy drillings only followed the roads already there due to them wanting to get in early (without certain other approvals which would have taken longer) so they were not digging at many of their more attractive targets (although it still was pretty good).  Second round drilling will go off the beaten track to target higher grade per groundmags.  Look out for these, they should be better grade.


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## Sean K (5 February 2008)

There's a few that have been smashed during the 'crash' but few have risen and fallen like this. They've got so many projects and investments that will bear fruit too. Really desperate fall. Not surprising in the sence that they went up so fast, punters must have just scrambled to get out. Still hard to judge fundamentally. Are they a holding company, or a miner? No idea....


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## grace (5 February 2008)

Kennas....my thoughts....
Well Red Hill Iron RHI might make it (previous spin-off).  You know, I wouldn't be surprised if Murchison Metals start talking with them for iron ore deposits around Jack Hills (after MIS falling through).   Murchison have stated before if MIS didn't work out, there were others around the area that they would go and talk to.  Eeraheady - that is massive....pity about the location (some 100km further inland from proposed rail end).  I am holding for deposits around Murchison/MIS and others up in the Pilbara.  Eeraheady might not make it this iron ore boom....... I don't think they are miners themselves.....just finders.  The experts seem to come to them.


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## grace (5 February 2008)

grace said:


> Kennas....my thoughts....
> Well Red Hill Iron RHI might make it (previous spin-off).  You know, I wouldn't be surprised if Murchison Metals start talking with them for iron ore deposits around Jack Hills (after MIS falling through).   Murchison have stated before if MIS didn't work out, there were others around the area that they would go and talk to.  Eeraheady - that is massive....pity about the location (some 100km further inland from proposed rail end).  I am holding for deposits around Murchison/MIS and others up in the Pilbara.  Eeraheady might not make it this iron ore boom....... I don't think they are miners themselves.....just finders.  The experts seem to come to them.




You know everyone seems to know of Sundance and their +1 billion tonne target iron ore in Africa with what, some 600km rail to build.  How many people know of Giralia's Eeraheady +1billion tonne iron ore target in Australia 100 kms from proposed rail line at Wiluna (east of MMX and MIS)?  Giralia is just not as well known.  I think they should spin-out all of their iron ore holdings very quickly.....

SDL    MC = $543 mill
GIR     MC = $140 mill


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## grace (13 February 2008)

Giralia has started drilling Western Creek deposit (10km extension to BHP Silver Knight Deposit 10kms west of Newman).  Wow, on the sattelite map you can see the open pit Mt Whaleback mine - it is massive (just down the road).  
Accouncement out today.  
Giralia seem to have quite a few drill rigs working at present.  Hopefully a continual flow of news on the iron ore front this year.


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## grace (19 February 2008)

I seem to be talking to myself here but good announcement out today.  Giralia have been granted the Beebyganna Hills tenement and will start drilling this iron ore deposit late March.  Target is 30 - 50 mill tonne of DSO Hematite.  Beebyganna Hills is 15kms south of Weld Range (MIS + Giralia), where planned rail line will go to front door.  Here is the announcement, samples are very high % in past (see map).

http://aspect.comsec.com.au/asxdata/20080219/pdf/00813238.pdf


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## trtkjd1 (19 February 2008)

hi Grace just thought id ad my 2cents worth just to stop you feeling lonely. Don,t worry i,ve been keeping an eye on this stock to and what they have could potentialy be huge . Three very real iron ore prospects with western creek , beeybyn range and eraheedy  which is right next door to large rio and bhp holdings, could potentaily be on a winner with this volitile stock.


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## grace (27 February 2008)

Some excellent drilling results out today at Western Creek (10km from Newman) and next door to BHP.  Selected intercepts below.  All hits are DSO!


THICK ZONES OF IRON ORE INTERSECTED FROM SURFACE AT
100% OWNED WESTERN CREEK PROJECT

• Thick near-surface intersections of direct shipping ("DSO") Marra Mamba iron ore
mineralisation from initial drilling of Giralia's 100% owned Western Creek project,
testing direct extensions to BHP's Silver Knight iron ore deposit (10 kilometres west of Newman).

Initial results include:

42 metres @ 59.1% Fe from surface, includes 34 metres @ 61.1% Fe

44 metres @ 58.4% Fe from 2 metres, includes 28 metres @ 60.4% Fe

34 metres @ 57.2% Fe from 6 metres, includes 16 metres @ 60.5% Fe

The Directors of Giralia Resources NL ("Giralia") are very pleased to report significant iron ore intersections from initial RC drilling at the Company's 100% owned Western Creek iron ore project, located 10 kilometres west of the town of Newman in the Pilbara Region of WA.


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## Sean K (28 February 2008)

grace said:


> Some excellent drilling results out today at Western Creek (10km from Newman) and next door to BHP.  Selected intercepts below.  All hits are DSO!



And a few more:



> • Assays for a further 7 holes just received from initial drilling of Giralia's 100% owned Western Creek project (10 kilometres west of Newman) show more thick near-surface intersections of direct shipping ("DSO") Marra Mamba iron ore. New results include:
> 
> 50 metres @ 60.4% Fe from surface,
> 42 metres @ 60.2% Fe from surface,
> ...




Great break up recently. Double bottom target around $1.30 which looks likely to be hit soon. Wish I had have been following this more closely.


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## grace (28 February 2008)

kennas said:


> Great break up recently. Double bottom target around $1.30 which looks likely to be hit soon. Wish I had have been following this more closely.




Don't worry too much Kennas.  I'll swap you my return on Giralia, for your return on Minemakers any day!  Keep smiling!

PS  It's a loss for me, but I'm very optimistic with Giralia this year, so I'll stick by them!


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## grace (7 March 2008)

Good to see Giralia's baby RHI all grown up today with the big upgrade from 135million to 350million tonne of 57.2%fe.

No move up today for GIR although they still own a blocking stake in RHI of 16.8%. 

Personally believe GIR have got in and selected the best bits among the juniors, but only time will tell.


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## grace (13 March 2008)

Some more nice drilling result at GIR's Western Creek Iron ore project.  Along strike from BHP's silver knight deposit and 10 km from Newman.  All DSO!



> • Further drilling confirms discovery of a second zone of near-surface, direct shipping Marra Mamba iron ore around 1 kilometre to the north of previous significant intersections at Giralia's 100% owned Western Creek project (10 kilometres west of Newman). New results include: 18 metres @ 57.5% Fe, incl. 12 metres @ 60.3% Fe
> 26 metres @ 56.2% Fe, incl. 12 metres @ 60.1% Fe
> • Native Title approvals have been received for additional follow up holes in the area closest to significant mineralisation intersected to date by the Company as direct extensions to BHP's Silver Knight iron ore deposit.






> The Company has received assay results for 58 first pass RC holes completed to date testing direct extensions to BHP's Silver Knight iron ore deposit and several channel iron deposit targets at Western Creek. Earlier previously reported Giralia holes from the area immediately west of BHP's Silver Knight deposit returned thick, near-surface, low phosphorous iron ore intersections including, RCWC018; 44 metres @ 58.4% Fe (incl. 28 metres @ 60.4% Fe), RCWC023; 50 metres @ 58.2% Fe (incl. 42 metres @ 60.2% Fe) and RCWC024; 50 metres @ 60.4% Fe.




Giralia should have plenty of drilling results continuing all year....


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## blehgg (20 March 2008)

Trading halt ~

10:05 today ~ took a slight dip last couple of weeks. Any ideas? 

Another discovery / takeover?


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## Sean K (20 March 2008)

blehgg said:


> Trading halt ~
> 
> 10:05 today ~ took a slight dip last couple of weeks. Any ideas?
> 
> Another discovery / takeover?



It says 'pending finalisation of a transaction'. No one else went into a halt at the same time, so might be funding? They don't need $$ do they?


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## prawn_86 (20 March 2008)

kennas said:


> It says 'pending finalisation of a transaction'. No one else went into a halt at the same time, so might be funding? They don't need $$ do they?




Could it be another spinoff?

Im just throwing ideas here. I'm not sure if any of their assets are ready to be spun off yet...


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## grace (20 March 2008)

kennas said:


> It says 'pending finalisation of a transaction'. No one else went into a halt at the same time, so might be funding? They don't need $$ do they?





I do not think they need cash at the moment $15 million at the end of Dec.

I'm guessing someone wants to JV one of their plots.  Just a guess.  I hope it's Murchison Metals in the Mid-West region after the chinese are trying to take out MIS.

Fingers crossed.


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## Sean K (20 March 2008)

grace said:


> I do not think they need cash at the moment $15 million at the end of Dec.
> 
> I'm guessing someone wants to JV one of their plots.  Just a guess.  I hope it's Murchison Metals in the Mid-West region after the chinese are trying to take out MIS.
> 
> Fingers crossed.



Wouldn't they be in a halt as well though? Perhaps a foreign company wants to take a stake. Chinese might like their iron assets which seem to be developing nicely.


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## grace (20 March 2008)

kennas said:


> Wouldn't they be in a halt as well though? Perhaps a foreign company wants to take a stake. Chinese might like their iron assets which seem to be developing nicely.




mmm noone else is in a trading halt.  "pending finalisation of a transaction"

Perhaps the Easter Bunny is getting tired of his pay and wants to trade chocolate for iron ore.


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## Trader52 (23 March 2008)

I bought into this one several months ago, at about the price it is now!  Should have unloaded it when it was well up.  The broker likes it.  They seem to have a lot of projects in the pipeline and a solid track record.  I will hold for now.


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## Sean K (26 March 2008)

AMCI taking a strategic stake.



> 26 March 2008
> 
> *GIRALIA SECURES AMCI CAPITAL AS A STRATEGIC SHAREHOLDER SALE OF GIRALIA'S SHAREHOLDING IN RED HILL IRON TO AMCI INVESTMENTS AND FIRST RESERVE CORPORATION*
> 
> ...




Hmmm, sells it's iron ore investment, for....development of iron ore. LOL

Good deal for Giralia perhaps, if it's spent well. 

How does this effect the AQA/AMCI/RHI arrangement now?


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## grace (26 March 2008)

kennas said:


> AMCI taking a strategic stake.
> 
> 
> 
> ...




AMCI wanting a bigger slice of the pie it seems on Red Hill Iron, and from this media report, very impressed by Western Creek recent drill results to also want in on Giralia.  

http://www.businessspectator.com.au/bs.nsf/Article/Deal-me-in-D48ZM?

Price for RHI $3.94/tonne of DSO based on $7 share price.  Personally I think AMCI got a good deal as more RHI drilling to come in yet to upgrade that resource.

Interesting times ahead for this little spider web!


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## grace (29 March 2008)

The Australian yesterday - Tim Boreham rates Giralia a Speculative Buy.  Interesting they have turned away a string of buyers in the past.  I had heard this via the grapevine, but could not substantiate.



> Giralia Resources (GIR) $1.10
> 
> BHP and Rio shares may have come off the boil, but Giralia's $70 million jackpot shows that enthusiasm continues unbated in the junior iron ore sector.
> 
> ...


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## grace (7 April 2008)

A bit of extra info on the iron ore front with the UBS presentation out today.  Some bits and pieces below..lots of info coming up soon and good to see an *initial target of 50 - 100 mill tonne of DSO on Western Creek*.  As we now have plenty of money in the bank, no more fundraising for some time which is great for holders.



> *Beebyn–Weld Range segment; build on preliminary iron ore reso*urce
> • Beebynganna Hills iron ore; initial drilling April, initial resource?
> • Earaheedy iron ore; substantial follow up drilling to test hematite hills
> • Western Ck iron ore; initial drilling February, initial resource June?
> ...






> Initial ‘Exploration Target’ for Giralia’s 100% owned Western Creek project;
> *50-100 million tonnes of DSO*


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## grace (18 April 2008)

aaagh, just more of the same......plenty of iron ore in those hills!  Didn't even know about this deposit!  GIR 75%



> A further 5 rock chip samples were taken from potential iron ore targets associated with extensive outcrops of prospective banded iron formation.
> 
> *One zone of high grade hematite iron ore was identified with grade 62.2%Fe from an outcrop of massive hematite extending for approximately 200 metres by 200 metres. *
> 
> ...




Just hoping someone very big might wake up to GIR's huge potential one day, instead of just me talking to myself on some share forum.....


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## prawn_86 (18 April 2008)

Hey grace,

fwiw i follow these guys on my watchlist but dont have the capital to buy in.

Check my signature


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## grace (22 April 2008)

Well nice quarterly out today, plenty of cash, plenty of drilling results to come in soon.  Seems like the sellers are starting to dry up. I see a lot of sell orders have actually been removed today.  Perhaps they like the future prospects???

Here is some more detail on *one* of their iron ore prospects...



> *Earaheedy Iron Ore Project (Giralia 100%)*
> 
> Giralia controls a 570 square kilometre area in the Miss Fairbairn Hills area of the northern Earaheedy Basin, 100 kilometres north of Wiluna, and 200 kilometres south of Newman in Western Australia.
> 
> ...


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## AussiePaul72 (22 April 2008)

grace said:


> Well nice quarterly out today, plenty of cash, plenty of drilling results to come in soon.  Seems like the sellers are starting to dry up. I see a lot of sell orders have actually been removed today.  Perhaps they like the future prospects???
> 
> Here is some more detail on *one* of their iron ore prospects...




I totally agree Grace! It was a good quarterly and plenty of projects on the go that have some quite remarkable resource potentials. I'm a holder and am very much looking forward to where GIR are heading.
We have seen good rises in SP over the last couple of days and a particularly strong performance today (on an ASX ordinary day) with sellers drying up fast. The way i read it is that there is more gains to be made in the short term with buyers outnumbering sellers by an extraordinary 10:1 at present. Seems as though we are currently seeing a re-rating in the SP.
Future looks very bright but DYOR (disclaimer: I am a holder)


----------



## grace (8 May 2008)

Well, guess what, more DSO at our new deposit at McPhee Creek from surface.  What a surprise.  Look, there are not many surprises with GIR, they got in early and took up the best bits around the Pilbara and Mid-West.

This deposit is down the road from BCI's deposit so I can see some infrastructure sharing arrangement there such as a shared rail spur to FMG's line.  That's my crystal ball effort, so do your own research.



> *MCPHEE CREEK IRON ORE PROJECT CHANNEL IRON DEPOSIT CONFIRMED*
> 
> Channel Iron Deposit ("CID") discovery confirmed by resource level RC drilling at Giralia's 100% owned McPhee Creek iron ore project in the Pilbara region of Western Australia. New drill intersections include *12 metres @ 56.1 % Fe, 10 metres @ 57.2% Fe, 14 metres @ 55.9% Fe, with mineralisation commencing at surface.*
> 
> ...


----------



## prawn_86 (8 May 2008)

Man am I kicking myself for not getting onto these guys when they went under $1 again.

Dammit!!


----------



## nick2fish (8 May 2008)

prawn_86 said:


> Man am I kicking myself for not getting onto these guys when they went under $1 again.



Me too    Little jewel this one. 
Thanks Grace your posts made research easier. Been shifting through the pile of iron ore Juniors trying to take advantage of the potential sector re-rating once the Chinese finalize BHP & Rio's ore prices.
Just wondering though has the company mentioned feasibility studies on any of there digs and which would be the more advanced or logical site for the company to take that first step towards producer


----------



## grace (8 May 2008)

nick2fish said:


> Me too    Little jewel this one.
> Thanks Grace your posts made research easier. Been shifting through the pile of iron ore Juniors trying to take advantage of the potential sector re-rating once the Chinese finalize BHP & Rio's ore prices.
> Just wondering though has the company mentioned feasibility studies on any of there digs and which would be the more advanced or logical site for the company to take that first step towards producer




This Company, I believe will spin off their iron ore projects into new companies, and then take it from there.  They have just kissed goodbye to RHI, and this forms the major DSO that AQA is involved in.  Once companies have been spun off, this provides opportunity for float funds (priority issue to GIR holders and new money) to next step of final drilling and feasability studies.

In what order???  That's a hard question, but I'd say

1.  Possible JV with MIS on the extension at weld range (drilling nearlly complete)

2.  Possible JV with MIS or MMX on Beebynganna (drilling starting, but not a large deposit) - rail proposed to doorstep by infrastructure "winner" (MIS or MMX)

3.  Float a new company for each of the following possibly in this order

a)  Western Ck - 10km from Newman rail line and next door to BHP

b)  Earaheedy major deposit (this could be of interest to MIS and MMX given only requires an 80km extension to proposed rail line to Wiluna)

c)  McPhee Ck - infrastructure sharing with BCI (north of FMG rail line)

d)  other bits and pieces of iron ore too....eg magnetite deposit close to Perth but only 1km from rail line.

These are my thoughts only, and could quite clearly be totally wrong.


----------



## nick2fish (8 May 2008)

The mac bank of the mining industry,well maybe  Thanks for the wrap Grace
Very helpful....  Cheers


----------



## ChomChom (9 May 2008)

Anybody knows why the announcement had no effect on the SP, it looked promising?!

Even this article in Australian News http://www.theaustralian.news.com.au/story/0,25197,23665869-15023,00.html  published yesterday had no effect and the SP has gone down today....??


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## nick2fish (12 May 2008)

ChomChom said:


> Anybody knows why the announcement had no effect on the SP, it looked promising?!
> 
> Even this article in Australian News http://www.theaustralian.news.com.au/story/0,25197,23665869-15023,00.html  published yesterday had no effect and the SP has gone down today....??




My   on this is that if you look at the climb of the sp of late would seem to me the market has already priced in that result. My feeling that the market is consolidating at this price, before maybe another re-rating. 
A difficult company to value.


----------



## Sean K (13 May 2008)

nick2fish said:


> A difficult company to value.



Aint that an understatement. I started trying to do it a few months ago and got to their 5th or 6th project and just gave up. More irons in the fire than an overworked blacksmith in the middle ages. (now that`s a crap analogy ) Been a wicked ride for those on board since Sep last year. Can`t believe I sold at 75 cents last year, and didn`t take up the RHI IPO opportunity.


----------



## nick2fish (16 May 2008)

Hey Kennas .... If we could use a crystal ball we wouldn't be mucking around with shares... when you could make fast dollars on the horses.

I got in on GIR @1.80 but I don't care the upside is fairly strong on this one(IMO) cause ,as you are well aware ,they a fairly substantial multi site ore exploration portfolio. 
My reading suggests Chinese/World demands are going to get more intense
The Big fish are going to eat up the small fish 
M/A is the fastest way to beef up resource size, add synergies and maybe avoid bottlenecks by diversifying location.
GIR projects will gain attention and deal terms may shock.
Plus I like how GIR always negotiates a small slice of the pie thus building a handy equity portfolio as they go.
One for the mid to long term, Good Luck  


my opinions are as good as cask wine


----------



## Sean K (20 May 2008)

GIR has doubled in a month. 

I wonder if it's a proper rerating, or it's going to go off on it's roller coaster ride again. 

The McPhee Creek thing seems to have been part of the impetus.



> Channel Iron Deposit ("CID") discovery confirmed by resource level RC drilling at Giralia's 100% owned McPhee Creek iron ore project in the Pilbara region of Western Australia. New drill intersections include 12 metres @ 56.1 % Fe, 10 metres @ 57.2% Fe, 14 metres @ 55.9% Fe, with mineralisation commencing at surface.




Not really thick intersections but potentially a long deposit.



> Previous iron ore exploration by at McPhee Creek by Amoco Minerals in the early 1980's outlined a substantial CID outcropping as a mesa up to 3.5 kilometres long.


----------



## grace (21 May 2008)

kennas said:


> I wonder if it's a proper rerating, or it's going to go off on it's roller coaster ride again.




Interesting question, and only one the market can answer.

However, there is quite a lot of news flow over the next couple of months so hopefully that will at least keep things sideways???

It has at least had some more consolidation on the way up this time with the chart not so steep......

I'll post news flows expected in a second.


----------



## grace (21 May 2008)

Here are some of the news flow we can expect over the next couple of months



> Beebyn–Weld Range segment; build on preliminary iron ore resource
> 
> • Beebynganna Hills iron ore; *initial drilling April, initial resource*?
> 
> ...




Probably the one I am most looking forward to is Earaheedy!


----------



## grace (26 May 2008)

Iron ore investor presentation out today for a European road show starting tomorrow for 10 days.  Good to see some sought of timeline and mining dates slotted in for the first time.  Hopefully might attract some new interest in the gorilla!

http://aspect.comsec.com.au/asxdata/20080526/pdf/00845238.pdf

With MMX and MIS in trading halt, I'm hoping they can reconcile their differences quickly, and build and extend that rail line 80kms out to Earaheedy thanks!  Giralia management need to be talking with them too!


----------



## agro (30 May 2008)

this stock is simply amazing,

has continued to rise on the back of iron ore demand on a daily basis.

I know GIR is next door to BRM (which is in a trading halt) - possible merger?


----------



## prawn_86 (30 May 2008)

agro said:


> this stock is simply amazing,
> 
> has continued to rise on the back of iron ore demand on a daily basis.
> 
> I know GIR is next door to BRM (which is in a trading halt) - possible merger?




If it was a merger one would assume they would both be in a halt.

I kick myself every % i watch this go up. Considering i came so close to buying at 70c 

Its still on my watchlist as a reminder of how stupid i am


----------



## agro (30 May 2008)

prawn_86 said:


> If it was a merger one would assume they would both be in a halt.
> 
> I kick myself every % i watch this go up. Considering i came so close to buying at 70c
> 
> Its still on my watchlist as a reminder of how stupid i am




true true

i am kicking myself too , i saw it at 70 cents - $1.20 a while back 

grace has some good tips - look at FRS..

don't think i am keen on buying at these levels though

alot of potential no doubt

my


----------



## Atma (30 May 2008)

grace said:


> Earaheedy thanks!  Giralia management need to be talking with them too!




one must be skeptical of theoretical "1 billion tonne DSO" targets. Earaheedy has had no results of significance yet, and nothing marketable product. Perhaps GIR is now overvalued, with only 1 prospect showing good size orebody(Western creek), the rest look smaller(Midwest, Mcphee creek) and not big enough in size on their own. One must always look at the opposing views before investing in these kinds of things(especially in a hyped up mkt).


----------



## grace (2 June 2008)

Atma said:


> one must be skeptical of theoretical "1 billion tonne DSO" targets. Earaheedy has had no results of significance yet, and nothing marketable product. Perhaps GIR is now overvalued, with only 1 prospect showing good size orebody(Western creek), the rest look smaller(Midwest, Mcphee creek) and not big enough in size on their own. One must always look at the opposing views before investing in these kinds of things(especially in a hyped up mkt).




Good point, but going on their track record, my trust is in management here.  They got in early and took up some very nice iron ore deposits in 1999 (one only has to look at the 350 million tonne of DSO they have drilled up via Red Hill Iron which was 100% Giralia until others bought in).

Remember also with Earaheedy that first drilling was not the hematite hills.  Next drill will be, and this is where the DSO will be found.  

The European road show running from 27/5 to 5/6 seems to have sparked some buying already.  Today was very large volume indeed.

This month the initial jorc on Western Creek will be out.

I do believe that the MMX and MIS merger will be looking to increase resources, and GIR's mid-west deposits are nicely placed to be on their hit list.


----------



## Dukey (17 June 2008)

I have finally bought into GIR (in a small way) on last weeks sp. correction - after kicking myself endlessly for not getting in last year around the 60c mark!!  Will look at buying more on the coming weeks.

Might be just in time too - with some more good looking DSO Fe results from their 100% owned western ck project.
Most Fe% 's  around 56-60%, 28-38m thicknesses.  
Init. resource estimate due by end of June.....  would that be JORC  compliant - or pre-JORC??... anyone?

With their other Fe projects plus plenty of other mineral bases covered - I think I'll be part of GIR for a long time to come. 

-relieved to be 'in' on this one finally - dukey


----------



## grace (17 June 2008)

Dukey said:


> I have finally bought into GIR (in a small way) on last weeks sp. correction - after kicking myself endlessly for not getting in last year around the 60c mark!!  Will look at buying more on the coming weeks.
> 
> Might be just in time too - with some more good looking DSO Fe results from their 100% owned western ck project.
> Most Fe% 's  around 56-60%, 28-38m thicknesses.
> ...




Welcome, aboard Dukey...we seem to have quite a few similar holdings from memory (coal seam gasers etc).

I believe from what I read that it should be a jorc resource out by end of June for Western Ck.  They already have an initial target of 50 - 100 mill tonne DSO.

I'm glad today's announcement says that todays assays will be included in the initial resource statement.  Hopefully that should not disappoint the market. 

They are drilling on so many fronts, and all on good deposits that a continual news flow should help to ensure we don't get a big correction if the whole market tanks again (but nothing is certain these days).

GIR seems to be slowly getting a bit of coverage by the brokers.


----------



## Dukey (17 June 2008)

grace said:


> Welcome, aboard Dukey...we seem to have quite a few similar holdings from memory (coal seam gasers etc).
> 
> I believe from what I read that it should be a jorc resource out by end of June for Western Ck.  They already have an initial target of 50 - 100 mill tonne DSO.
> 
> ...




We do indeed - lets hope it a case of 'great minds think alike....'  as opposed to 'fools never differ'!!!!

I was really keen to get into GIR last year - but had no spare cash - now I've cashed in some managed funds and decided that if MLC want to waste my $$ - then I might as well do it myself!!!   I've done way better than them for some time now anyway - so bugger 'em - let them lose someone elses money!!

Latest correction back to $2 seemed a good opportunity to get on board GIR. ..... should be an interesting ride through just about every resource under the sun - excluding oil/gas/coal (from memory).     
 First stop : Fe Ore.

lets go!!

(holding GIR - yippee)


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## Dukey (18 June 2008)

Noticed a big volume spike today - up to 10.3M shares traded - way above normal for GIR.  On viewing the course of trading data on comsec - there were two parcels of 5mill shares bought just after open for $2 /sh exactly.
the trades were marked XTOS which apparently means: 

XT  = crossed trade; OS = overseas.

So an overseas buyer/trader doing something with 10mill shares.....  does anyone have suggestions as to what is/could be going on here....  sounds very interesting.

-dukey


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## grace (18 June 2008)

Dukey said:


> Noticed a big volume spike today - up to 10.3M shares traded - way above normal for GIR.  On viewing the course of trading data on comsec - there were two parcels of 5mill shares bought just after open for $2 /sh exactly.
> the trades were marked XTOS which apparently means:
> 
> XT  = crossed trade; OS = overseas.
> ...




I thought it might have been you topping up!

If not, well the European road show seems to be working, and we might see a substancial holder notice in the next couple of days (if the purchase all by one party).


----------



## Dukey (18 June 2008)

grace said:


> I thought it might have been you topping up!
> 
> If not, well the European road show seems to be working, and we might see a substancial holder notice in the next couple of days (if the purchase all by one party).




In my wildest dreams ... maybe!!!

- $20mill worth of GIR would look very nice on the meagre comsec portfolio statement!!....
but I probably wouldn't be here (no offense ASF ) - I'd be swimming in my olympic sized swimming pool filled with champas.!!! 

.... maybe next week.


----------



## Boggo (18 June 2008)

It was probably just one of those spaced out Elliott Wave believers.
They will buy anything that has a pattern 
.


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## grace (22 June 2008)

Tim Knapton (MD of an investment bank) has a write up about Giralia on p74-75 of July 08 Smart Investor magazine.


After discussing Beebyn (where there is an advanced prefeas study), he then mentions Beebynganna Hills and then says







> *......"Analysts estimate Giralia has found 55 million tonnes, grading about 55%.  Further drilling is needed to identify a mineable ore body about four times that size for it to be economic - which seems highly probable - evolving into a 15 mta project.  These resources will probably be of value to Sinosteel, which is developing a 149-million-tonne resource only 10 - 15 kms away".*



Now based on that, the only one they could be thinking of is Beebynganna Hills which is that distance from the MIS deposit??????????  I didn't think that they had any assays even back for Beebynganna!

I'm going to suggest they got the location wrong, and it is in fact Western Ck near BHP and Newman.  So this suggests a target of over 200 million tonne for there.  Where else could they be thinking of?  I'm very confused!!!!!!

You know, I just read back over Beebynganna Hills.....strike of 11 kms long.  Initial target of 30-50 million tonne.  I guess 200 million tonne could be possible as this is an initial target.  I'll be jumping for joy if there is that much there!

Anyone else read the article? (analyst seems to know more than reported to the ASX!)


----------



## grace (30 June 2008)

Tick Tock, Tick Tock....where is the initial jorc for Western Ck due June 08?  No reason to believe it will be bad, with some strikes to surface and mostly in the 57 - 60 % fe.  More than 50 mill tonne would be nice, and closer to 100 mill would be very good.


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## Dukey (30 June 2008)

grace said:


> Tick Tock, Tick Tock....where is the initial jorc for Western Ck due June 08?  No reason to believe it will be bad, with some strikes to surface and mostly in the 57 - 60 % fe.  More than 50 mill tonne would be nice, and closer to 100 mill would be very good.




Just bought a few more today - Avg price now $2.20 for me.
So - bring it on!!!!!!!!!! 
JORC us baby!!!  not that W. Ck is likely to be a huge resource, but it's a start and a good location.

-Dukey


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## grace (8 July 2008)

Now that MMX missed out on MIS, I'm thinking that GIR's mid-west deposits might be of interest to them.  Earaheedy is the mother of all deposits, so let's just see what unfolds this year.  Holding and hoping I guess.

You know, if GIR had had Andrew Forrest at the wheel, we would be the ones filling the boats up now.  

Western Creek initial jorc was due today I thought.

Here are some pictures of Mt Whaleback (BHP's mine next door).

http://maps.google.com/?q=Newman,+W...2526&spn=0.056576,0.11158&t=h&z=14&iwloc=addr


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## Dukey (9 July 2008)

grace said:


> Now that MMX missed out on MIS, I'm thinking that GIR's mid-west deposits might be of interest to them.  Earaheedy is the mother of all deposits, so let's just see what unfolds this year.  Holding and hoping I guess.
> 
> You know, if GIR had had Andrew Forrest at the wheel, we would be the ones filling the boats up now.
> 
> ...




Geez - shes been bleeding recently  - along with many other of course. Trust me to buy in a few weeks early!!!!
No matter - this is an investment not a short term trade for me - great assets and locations...  bring on the JORC.


----------



## grace (11 July 2008)

Initial jorc of Western Ck of 30 million tonne at 57.6%Fe.  Not a bad start!  Only 50% drilled, and open at ends.  Location of Western Ck is pretty good too!



> “This conservative initial resource covers only a portion of the potential Marra Mamba iron ore mineralisation at Western Creek, supporting the Company’s ultimate exploration target* of 50 to 100 million tonnes for our wholly owned tenement area. We are confident of increasing this current resource with further drilling of open ended zones. Importantly the bulk of the resource is very close to surface, and the Western Creek deposit is located only 15 kilometres from the railway and train loading facilities at Newman. Completing a preliminary Mineral Resource estimate was a priority for the Company, and a necessary first step to allow us to progress discussions on access to infrastructure and development.”






> The Directors of Giralia Resources NL ("Giralia") are pleased to announce an initial Inferred Mineral Resource for the Company’s 100% owned Western Creek project, located 15 kilometres west of the town of Newman in the Pilbara Region of Western Australia.






> Further exploration and resource drilling is planned at Western Creek in August 2008, including step out drilling along strike of the northern and southern Marra Mamba zones, which remain open ended beyond resource models.


----------



## Sean K (11 July 2008)

grace said:


> Initial jorc of Western Ck of 30 million tonne at 57.6%Fe.  Not a bad start!  Only 50% drilled, and open at ends.  Location of Western Ck is pretty good too!



Yes, great intital JORC Grace. I wonder if they will take if forward alone, or be approaching BHP for farm in? I think BHP option.


----------



## grace (12 July 2008)

kennas said:


> Yes, great intital JORC Grace. I wonder if they will take if forward alone, or be approaching BHP for farm in? I think BHP option.




Well, if they don't tell us what they are going to do with all of that iron ore soon, I'm going to pack up the family, trucks, diggers etc, and camp up there and make a start!  After all, it is to surface, so I'll pack some shovels as well for the kids!

If you add up all of the DSO targets for GIR, you get over $1.2billion tonnes.  Someone must be watching GIR very closely IMO.  Just a matter of time I think.


----------



## grace (14 July 2008)

This one seems to have wild swings during these times.  Looking at current market cap.

158 million shares x $1.46 = $230 mill

Cash $80 mill plus
Listed investments (not sure what they are sitting at without spending a lot of time on it!)
Say $20 mill

Gives $130 mill for assets other than cash and listed investments

JORC resources
30 mill tonne @ 57.6% Fe  DSO  at Western Ck next door to BHP
7.2 mill tonne @ 57.2% Fe DSO at mid-west (extension to Sinosteel)

37.2 mill tonne

Now, not considering the DSO target of $1.2 BILLION tonne mmmmm, nor any other substancial minerals all over Australia, and other places in the world...

$130 mill tonne / 37.2 mill tonne DSO
$3.50 per tonne of DSO jorced.

Drilling in Beebynganna Hills should start to come in soon, as well as on the elephant deposit at Earaheedy.

Plenty of upside, the market just doesn't want to know about it though.


----------



## grace (25 July 2008)

IOH's announcement securing mine gate sales with RIO, suggest the big players are looking at even small ways of increasing sales of iron ore (that project is only 1 mtpa).

BHP says they will take mine gate sales, so Western Ck could get early sales there, but some form of railway agreement would be the best option for longer term security for the project.  

Might hear in a few days about what the Government is going to do about the big player monopoly in the Pilbara.


----------



## grace (30 July 2008)

grace said:


> IOH's announcement securing mine gate sales with RIO, suggest the big players are looking at even small ways of increasing sales of iron ore (that project is only 1 mtpa).
> 
> BHP says they will take mine gate sales, so Western Ck could get early sales there, but some form of railway agreement would be the best option for longer term security for the project.
> 
> Might hear in a few days about what the Government is going to do about the big player monopoly in the Pilbara.




Qrtly out stating mine gate sales with BHP planned for Western Ck.  Now that Mitsubishi/Murchison have the go ahead for the Port and Rail in the Mid-West, I think there might be some more transactions happening in that area.  Giralia has some nice deposits in that area that will be of interest to others in my opinion.

http://imagesignal.comsec.com.au/asxdata/20080729/pdf/00864026.pdf



> The Company significantly increased the resource inventory at its wholly owned iron ore projects, with substantial ongoing resource growth drilling planned;
> 
> • Western Creek Iron Ore Project: Giralia reported an initial resource estimate of 29.4 million tonnes @ 57.6% Fe at its 100% owned Western Creek project, following completion of a further 36 RC drillholes during the quarter. This is a significant discovery of near surface Marra Mamba iron ore only 15 kilometres west of BHP’s rail facilities at Newman in WA's Pilbara. The Company continues to favour a mine gate sale arrangement with BHP as its preferred development option.
> 
> ...


----------



## grace (1 August 2008)

Gir is drilling not only the extension to the weld range deposit (next door to mid west steel), but also the Beebynganna Hills deposit this month.  Both deposits are at the doorstep to the proposed mid-west rail line, and therefore lies the attractiveness to other parties, or GIR itself.

There are some nice grades in the outcropping hills, and the target is for 30 - 50 mill tonne of DSO.  The survey looks pretty good I think.

Thankyou to Kennas for showing me how to cut and paste.


----------



## speculator101 (4 October 2008)

Hi fellow investors.
Hope you are not all doom and gloom like the masses...
Now that I have spent all my pennies... I have time to just read, and read, and read...
So anyway, just looking at Giralia's worth, and I must say that they must be one of the few 'explorers' that are very very cashed up due to thier now - 'brilliant' (perhaps lucky) sale of Red Hill Iron, which leaves them with $85,000,000 in cash, wish I had that earning me interest!
So I was wanting to get a few thoughts on whether GIR would ever be interested in T/A or maybe joint ventures? as there has to be some bargains after the battering that all the miners are taking?
For the past few years I always thought that GIR would be a T/A itself, but I believe it finds itself in an interesting position. 
I know its leadership pride themselves on being explorers, but perhaps some production would be nice?
Yes... I could just be day dreaming, but now that the markets are down, and still going down, speculation is great way to get you mind off the losses!!

IMHO.


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## Gundini (19 December 2008)

Couldn't help but dive into this one today at .30c

Good solid earnings and debt free...

Has to be some value here.


----------



## prawn_86 (19 December 2008)

Gundini said:


> Couldn't help but dive into this one today at .30c
> 
> Good solid earnings and debt free...
> 
> Has to be some value here.




i didnt know they were earniong anything i must have msised that 

Can you please expand on it? I thought they just had a sh1teload of exploration projects happening


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## Gundini (19 December 2008)

prawn_86 said:


> i didnt know they were earniong anything i must have msised that
> 
> Can you please expand on it? I thought they just had a sh1teload of exploration projects happening




Perhaps I should have said Earnings per share:

Earnings Growth Rate: 45.0% (10Y) 80.2% (5Y) 132.5% (1Y)


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## prawn_86 (19 December 2008)

Does that EPS come from selling of tenemants? Or do they have an actual operating mine or something else producing constant cashflow?


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## Gundini (19 December 2008)

prawn_86 said:


> Does that EPS come from selling of tenemants? Or do they have an actual operating mine or something else producing constant cashflow?




Yes it does. 

From what I can gather, they explore their tenements, find something good in them, spin them out to someone else, and retain a stake in the operation. 

This is their core business. I don't believe they intend to produce, they leave that to somebody else! They don't have any operating mines as far as I can see.

Smart business if you ask me, and little risk, with potentially plenty of gain.

Below will give you an idea on the company focus. 

GIR has a multi-commodity exploration portfolio and is seeking to accelerate development and unlock shareholder value through independently capitalising and spinning out company specific listings from the portfolio. In each case the new company attracts a new management team with industry and international connections and raises the necessary capital to facilitate its independent listing. GIR retain strategic stakes in the commodity specific spin offs. This provides shareholders with an on-going indirect interest through the retained holding, a priority to subscribe for shares on listing and, in most cases, a free distribution of shares. GIR have further 100% owned opportunities in their project pipeline and participate in 9 non managed joint ventures.


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## Sean K (18 March 2009)

GIR smashed and now bottoming or bottommed, for the moment, along with many others. As previously noted, so many projects hard to keep track of. Recent upgrade of DSO to quite a handy tonnage as well.

180m ish @ .36 = $64m 

$70m cash in the bank.

What the?

All those projects are worth nada? 

Wait for a break up, or get in before it does. hmmmmm. 

Maybe it just falls over....

Cash backing should be close to a floor though, surely.


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## prawn_86 (18 March 2009)

I have these on my watchlist. Huge support at 30c, even a bit of swing trading of buy at 30c sell at 33 - 35c would work, and sell on break down of 30c.

Or buy now and hold?


----------



## Sean K (19 March 2009)

prawn_86 said:


> I have these on my watchlist. Huge support at 30c, even a bit of swing trading of buy at 30c sell at 33 - 35c would work, and sell on break down of 30c.
> 
> Or buy now and hold?



I'm going to assume from here that .30 is a floor and reevaluate if broken. Will add some on (if) break up. 

I didn't add in their investments to the above equation, but their holdings in various companies should be added to asset backing.

Admittedly though, there are out of favour commods, like IO I suppose.

Wouldn't be surprised if they spun out these iron projects into something new.

Beebyn (100%) – Hematite (MidWest) – Adjoins Sinosteel Weld Range deposits. Initial Inferred Mineral Resource 7.2 million tonnes @ 57.2% Fe. Major upside at nearby Beebynganna Hills project, where 7 new zones of hematite have been discovered.

Western Creek (100%) – Hematite (15 km W of Newman) – Marra Mamba iron ore as direct extensions to BHP Silver Knight deposit. Inferred Mineral Resource 52.4 million tonnes @ 56.7% Fe. Deposit is near surface, with several zones open ended.

Earaheedy (100%) – Hematite (200 km S of Newman) –23 known hills with rock sample grades over 57% Fe, within 130 kilometres of iron formations on Giralia tenements, with shallow dips indicating large tonnage potential. Drilling; 20 metres @ 55.7% Fe, 8 metres @ 58.7% Fe, and 12 metres @ 57.3%Fe from 8 hills tested to date.

McPhee Creek (100%) – CID (Pilbara) – Channel iron deposit (CID) mesa, new drill intersections include 12 metres @ 56.1 % Fe, 10 metres @ 57.2% Fe. Initial Inferred Mineral Resource 5.17 million tonnes @ 53.6% Fe (60.4%CaFe).

Daltons (75%) - Hematite (Pilbara) – newly discovered 600 metre by 450 metre zone of massive hematite outcrop, grades average 63.3% Fe only 40km from FMG, BHP rail lines.

Yerecoin – Magnetite (150 km from Perth) – 1 km to railway. Coarse magnetite; 70.1 % Fe from initial DTR testwork. Initial drill testing March 2009.

Then add all the other projects .....


----------



## grace (19 March 2009)

I'm glad someone else has joined me here, the thread has been so quiet of late.

Giralia is a real gem - just has so many different minerals - something surely must come out of all of those deposits.  Iron ore is a major one of course.

Share price can be so volatile though - very illiquid at times.  I continue to hold - it won't go broke for some time with all of that cash in the Bank.  Nice to eliminate that for now!  Have some spare cash, but I think I'm going to put it elsewhere for now.


----------



## Sean K (27 March 2009)

grace said:


> I'm glad someone else has joined me here, the thread has been so quiet of late.



Yes, as it should be. Being a right turkey the past few months! 'But the times they are a changing!' Is that a song?

Potential breakout looming here. Fingers crossed. A break up through this presents a very good opportunity imo.

Ann today of another IO JORC, which looks pretty bloody good.

Maybe a justification for a break up. 

ASX ANNOUNCEMENT
INITIAL IRON ORE MINERAL RESOURCE ESTIMATE FOR ANTHIBY WELL CHANNEL IRON PROJECT

• Initial iron ore Mineral Resource for Giralia’s 100% owned Anthiby Well project.

o 63.5 million tonnes @ 50.5%Fe (55.8% CaFe), including
o 37.6 million tonnes @ 53.6%Fe (59.1% CaFe)
• This maiden estimate for the Anthiby Well channel iron deposit (“CID”) is based on an 87 hole first pass drilling program completed in December 2008.
• The resource is near surface; within ~40 metres of natural land surface.
• Drilling results include 32 metres @ 55.1%Fe incl. 24 metres @ 56.0%, 22 metres @ 56.3%Fe, and 18 metres @ 56.2%Fe.

The Directors of Giralia Resources NL ("Giralia") report an initial Inferred Mineral Resource for the Company’s 100% owned Anthiby Well iron ore project, located around 100 kilometres west of Paraburdoo in the Pilbara Region of Western Australia.


(holding a few)


----------



## Dukey (27 March 2009)

Man Oh man - these guys are gonna be rolling in it when Fe demand turns around.
I hadn't even heard of Anthiby Well deposit - can't remember seeing it on their monumental list of projects....

nice surprise packet.  I've lost a fiar whack on GIR .. but no point thinking about selling now... the future is inevitable AFAICS.

('As far as i can see' - saw that somewhere!)

- Looks like i've been too slow to move on BOW and MPO too :-(


----------



## YOUNG_TRADER (1 April 2009)

Just my thoughts but the key for GIR to add value here is expanding Beebyn given its proximity to MIS/Sino

While the other projects look real good an expanded resource at Beebyn will surely attract the attention of MIS/Sino

Trading at cash backing is just silly, crazy mkts these


----------



## doogie_goes_off (1 April 2009)

Yes agreed, this one still looks worth a punt. I am assuming from their tenement holdings that they have included exploration expenditure for the next year as a non-current liability, meaning they have heaps of cash, not that much required spending, and an Iron resource worth a deecent amount for near term sale if required. The books look good, I hope there is still some exploration activity on their favoured prospects.


----------



## Sean K (3 April 2009)

GIR looking like a potential breakout, but this region has been difficult. Base looks to be in though, unless the 1.1 trillion goes down the toilet.


----------



## stu_lee44 (15 April 2009)

Still holding this one. I should have bought BRM first and then back to GIR. But life is always trading off, sometimes you make wrong decisions. GIR's management never disappoint me from 2006 to 2008. Never imagine I could have a chance to get it back at 30c level after I sold it in 2008. When it touched 30c, I just can't help myself to put all my punts in. Hope it will attract MIS or someone else and then we might fly to sky.


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## Sean K (21 April 2009)

Unusual move yesterday clearing the hurdle at 45 and then powering ahead. Should get a speeding ticket you'd expect, but the volume was't that significant I suppose. In retrospect another obviously oversold junior loaded with cash and some good assest which clearly bottomed at the 30c mark. US tanking tonight and I expect our markets to go through some serious consolidation after this latest run which looked a bit overcooked, so this will probably pull back as well. Just have to wait for another opportunity I suppose.


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## prawn_86 (21 April 2009)

An entry between .3 and .35 when they were trading at cash backing really was a no brainer wasnt it  

Why do i never act on any of the opportunities i see


----------



## Sean K (21 April 2009)

prawn_86 said:


> An entry between .3 and .35 when they were trading at cash backing really was a no brainer wasnt it
> 
> Why do i never act on any of the opportunities i see



LOL. I reckon you'll get another opportunity in a few weeks here Prawn. I think the bear might be out of the closset again and we'll see some lemmings running for the hills, probably me included. Must keep all these cashed up juniors in mind after the next capitulation....


----------



## rhyslivs (21 April 2009)

I think I might have missed something... Care to elaborate shag?

Some nice results out today, don't think it will spare it an inevitable tumble though.


----------



## Sean K (21 April 2009)

rhyslivs said:


> I think I might have missed something... Care to elaborate shag?
> 
> Some nice results out today, don't think it will spare it an inevitable tumble though.



He probably meant the run up in the sp the past couple of days followed by 2 price sensitive anns.

And they're good ones too. GIR are developing quite a suite of IO deposits scattered about the place. They'll probably IPO them down the track. LOL


ASX ANNOUNCEMENT
INITIAL IRON ORE MINERAL RESOURCE ESTIMATE FOR ANTHIBY WELL CHANNEL IRON PROJECT
• Initial iron ore Mineral Resource for Giralia’s 100% owned Anthiby Well project.
o 63.5 million tonnes @ 50.5%Fe (55.8% CaFe), including
o 37.6 million tonnes @ 53.6%Fe (59.1% CaFe)
• This maiden estimate for the Anthiby Well channel iron deposit (“CID”) is based on an 87 hole first pass drilling program completed in December 2008.
• The resource is near surface; within ~40 metres of natural land surface.
• Drilling results include 32 metres @ 55.1%Fe incl. 24 metres @ 56.0%, 22 metres @ 56.3%Fe, and 18 metres @ 56.2%Fe.



ASX ANNOUNCEMENT
EXCELLENT RESULTS FROM INITIAL DRILLING AT YERECOIN MAGNETITE PROJECT
• Initial wide spaced drilling at Yerecoin magnetite project returns positive results;
o Intersections include;
 72 metres @ 32.4% Fe including 56 metres @ 35.7% Fe
 50 metres @ 30.3% Fe within 116.3 metres @ 21.7% Fe
• Excellent magnetic separation results from sighter Davis Tube Testwork
 Typical DTR concentrate grades > 70% Fe, < 2% SiO2
 Typical DTR weight recoveries > 40%
• Exceptionally coarse grind size for magnetite liberation
• Key is existing railway within 1 kilometre


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## stu_lee44 (21 April 2009)

72 metres @ 32.4% Fe including 56 metres @ 35.7% Fe
50 metres @ 30.3% Fe within 116.3 metres @ 21.7% Fe

Is it good news?It's too low,isn't it?Anyone can explain to me?3x


----------



## Sean K (21 April 2009)

stu_lee44 said:


> 72 metres @ 32.4% Fe including 56 metres @ 35.7% Fe
> 50 metres @ 30.3% Fe within 116.3 metres @ 21.7% Fe
> 
> Is it good news?It's too low,isn't it?Anyone can explain to me?3x



That's called magnetite stu. GIR have a mix of iron deposits. Hematite is the best because it can be shipped directly (Direct Shipping Ore) without beneficiation. Magnetite needs some work done to it before shipping and is therefore more expensive. Maybe do a google on it. The good thing out of that result was the Davis Tube testing. High concentrate and low impurities. Not soo sure about the recovery weight. 

• Excellent magnetic separation results from sighter Davis Tube Testwork
 Typical DTR concentrate grades > 70% Fe, < 2% SiO2
 Typical DTR weight recoveries > 40%


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## shag (22 April 2009)

yes sorry for the language guys, but there seems to be so many sharp rises then an announcement recently.
i realise some is due to pure speculation.
at least i got a small handful.


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## stu_lee44 (22 April 2009)

Thanks Ken. That's why ACS's 38% magnetite looks good and the same here. But frankly speaking, I hope there's some news coming for Beebyn....guess they would split some assets 



kennas said:


> That's called magnetite stu. GIR have a mix of iron deposits. Hematite is the best because it can be shipped directly (Direct Shipping Ore) without beneficiation. Magnetite needs some work done to it before shipping and is therefore more expensive. Maybe do a google on it. The good thing out of that result was the Davis Tube testing. High concentrate and low impurities. Not soo sure about the recovery weight.
> 
> • Excellent magnetic separation results from sighter Davis Tube Testwork
> Typical DTR concentrate grades > 70% Fe, < 2% SiO2
> Typical DTR weight recoveries > 40%


----------



## shag (23 April 2009)

http://en.wikipedia.org/wiki/Iron_ore

its quite informative.
looks like its got some friends today on the market.


----------



## Sean K (27 April 2009)

Seems to be breaking final sideways band here, which looks important. Although, maybe the recent higher highs and lows were the signal. I'm still expecting the overall market to come off from this bear rally, so this will probably follow. Or, we've seen the bottom...


----------



## stu_lee44 (27 April 2009)

very happy today.sold@.59 and got more back @.55.

Ken,from the chart,does it seem to go back 70c-75c level?I think if it rouches 74c very quickly,the price will go down 50c again and look for support.



kennas said:


> Seems to be breaking final sideways band here, which looks important. Although, maybe the recent higher highs and lows were the signal. I'm still expecting the overall market to come off from this bear rally, so this will probably follow. Or, we've seen the bottom...


----------



## grace (27 April 2009)

Well, for those that were smart enough to buy low, you are doing nicely.  Kennas, I wish I had your talent for that.  I'm a fundamentalist you know, but I'd sure like to get the charting bit more up to scratch.

Anyway, Giralia continue to drill up some more of that iron ore.  Can't complain about any of the grades as usual.  I'm sitting on a loss this time round.  Perhaps the swine flu will be the trigger for the next down leg......might be time to offload some stocks that I should not have loved so much.   Giralia has been one of those!  There was just soooo much to like about it though.


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## Sean K (28 April 2009)

Damn it's hard to keep track of all their projects.

They are gathering toether quite a suite of IO exploration assets that need to be disected.

Then they have $70m ish and their investments...

Lets try and make heads and tails of their last Qtly with updated resources over the past month or so.


Numerous significant drill intersections were returned from continuing resource drilling programs at the Company’s wholly owned iron ore projects;

• Western Creek Iron Ore Project: Giralia’s JORC hematite resource at Western Creek was increased by 38% to 40.7 million tonnes@ 57.3% Fe through addition of mineralisation on newly acquired tenements. Strong new results from a 71 hole drilling program are likely to substantially further extend the current resource, including; 36 metres @ 58.0% Fe, 22 metres @ 58.7% Fe and 32 metres @ 56.5% Fe. Mineralised Marra Mamba Formation was also confirmed by initial drilling of newly acquired Homestead prospect 10 km to the north including 20 metres @ 55.2% Fe and 6 metres @ 57.3% Fe.

_increased to 52.4 million tonnes on 11 March_

• Earaheedy Iron Ore Project: Positive assay results were returned from a 121 hole RC drilling program at the greenfields Earaheedy iron ore project, with significant results returned from 4 of the 8 hills drilled including; 20 metres @ 55.7% Fe, 12 metres @ 57.3% Fe (from surface), and 12 metres @ 56.1% Fe within 38 metres @ 53.6% Fe (open at end of hole). A substantial follow up program is being permitted including testing of many of the remaining 15 untested hills of high grade hematite outcrop.

• Anthiby Well Iron Ore Project: New discovery of thick zones of channel iron (CID) mineralisation confirmed by a 87 hole drilling program completed at Anthiby Well prospect, 100 km west of Paraburdoo in the Pilbara region. Results include 32 metres @ 55.1%Fe including 24 metres @ 56.0%, 22 metres @ 56.3%Fe, and 18 metres @ 56.2%Fe.

_Initial resource out on 27 Mar

Initial iron ore Mineral Resource for Giralia’s 100% owned Anthiby Well project.
o 63.5 million tonnes @ 50.5%Fe (55.8% CaFe), including
o 37.6 million tonnes @ 53.6%Fe (59.1% CaFe)
• This maiden estimate for the Anthiby Well channel iron deposit (“CID”) is based on an 87 hole first pass drilling program completed in December 2008.
• The resource is near surface; within ~40 metres of natural land surface.
• Drilling results include 32 metres @ 55.1%Fe incl. 24 metres @ 56.0%,_

• Beebyn Iron Ore Project: Results from an 82 hole drilling program confirm extensions to the initial JORC hematite resource of 7.2 million tonnes @ 57.2% Fe at the Company's 100% owned Beebyn-Weld Range deposit in WA's Mid West with intersections including 12 metres @ 59.3 %Fe. Results from the first drill testing of 3 of 7 hematite zones discovered at nearby Beebynganna Hills are encouraging, including 10 metres @ 57.7% Fe, and 6 metres @ 61.8%Fe.

_And then then Yerecoin Mag deposit ann on 21 April

EXCELLENT RESULTS FROM INITIAL DRILLING AT YERECOIN MAGNETITE PROJECT
• Initial wide spaced drilling at Yerecoin magnetite project returns positive results;
o Intersections include;
 72 metres @ 32.4% Fe including 56 metres @ 35.7% Fe
 50 metres @ 30.3% Fe within 116.3 metres @ 21.7% Fe
• Excellent magnetic separation results from sighter Davis Tube Testwork
 Typical DTR concentrate grades > 70% Fe, < 2% SiO2
 Typical DTR weight recoveries > 40%
• Exceptionally coarse grind size for magnetite liberation
• Key is existing railway within 1 kilometre_

*CORPORATE*

In addition to a cash balance of around $70 million at 31 December 2008, the Company also holds the following strategic stakes in several ASX listed companies, largely as a result of the spin-off of independently managed and funded companies over the last 2 years. Giralia shareholders have benefited through priority IPO entitlements and in specie distributions.

PacMag Metals Limited ("ASX: PMH") copper Giralia ~10.4% stake
U3O8 Limited ("ASX: UTO” uranium Giralia ~16.3% stake
Zinc Co Australia Limited ("ASX: ZNC”) zinc Giralia ~12% stake
Carpentaria Exploration Limited ("ASX:CAP") NSW, Qld Giralia ~10.4% stake
Hazelwood Resources Ltd ("ASX: HAZ") nickel Giralia ~ 5% stake
Peninsula Minerals Limited ("ASX: PEN") uranium Giralia ~ 2% stake

Too lazy at the moment to check what all that's worth....:


I wonder when the next IPO comes out?


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## grace (28 April 2009)

kennas said:


> Damn it's hard to keep track of all their projects.
> 
> I wonder when the next IPO comes out?




I suspect there will not be one this year as IPO's have not been going so well of late, and there are very few around in 09.  The punters are more careful these days.  Just my guess though.


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## Sean K (29 April 2009)

stu_lee44 said:


> very happy today.sold@.59 and got more back @.55.
> 
> Ken,from the chart,does it seem to go back 70c-75c level?I think if it rouches 74c very quickly,the price will go down 50c again and look for support.



No price targets from here, but next big resistance is .70-.75, yes. But the chart isn't saying it will get there other than it's on a 2 month uptrend, and broken .50 ish resistance, which _should_ be new support. Sellers coming in around the .60 level as clearly shown by the intraday sell offs. Looks short term bearish to me. If I was short term trading it I would have taken profits too.


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## Sean K (6 May 2009)

prawn_86 said:


> An entry between .3 and .35 when they were trading at cash backing really was a no brainer wasnt it
> 
> Why do i never act on any of the opportunities i see







kennas said:


> LOL. I reckon you'll get another opportunity in a few weeks here Prawn.



Or, maybe not. :

I hate it when a stock runs away and you don't get the chance to put grandmas kidney on it. LOL 

I've seen this sort of thing too many times to get excited though. Stocks go up, they go sideways, they go down. Never just verticle up for ever. And the harder they go up, the harder they go down.


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## prawn_86 (6 May 2009)

Gee, thanks for reminding me Kennas. If you were worried about a pull-back you could take your initial capital out now and free-hold the rest, its doubled since i looked at it


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## stu_lee44 (6 May 2009)

Yeah,75c!

Ken,do you think whether it will go down from this level?

God bless I can get them back....



kennas said:


> Or, maybe not. :
> 
> I hate it when a stock runs away and you don't get the chance to put grandmas kidney on it. LOL
> 
> I've seen this sort of thing too many times to get excited though. Stocks go up, they go sideways, they go down. Never just verticle up for ever. And the harder they go up, the harder they go down.


----------



## Sean K (13 May 2009)

stu_lee44 said:


> Yeah,75c!
> 
> Ken,do you think whether it will go down from this level?
> 
> God bless I can get them back....



Stu, I reckon it'll go to .76 by 12 May. I got that off metric. 

I'm not sure where it's going short term. If the general market falls over, there's some support at .60. To the upside, longer term resistance around $1.00. But, there's no technical 'targets' from here. I think for some sort of longer term price target you need to look at their current assets - give that a value, investments and cash on hand to get an approximate funnymental value to work towards. This is just too damn complicated for me to work out a funny value (while sitting on a beach). All I knew was that it was undervalued back at 30c, just on cash at hand. Now, I'm going with the momentum, and I'm close to taking my bat and ball at the moment. 

More interesting news out.




> *ASX ANNOUNCEMENT
> GIRALIA EXPANDS YERECOIN MAGNETITE PROJECT*
> • Giralia takes exclusive option over key tenement adjoining Yerecoin magnetite project.
> • New acquisition triples interpreted strike length of prospective magnetite rich banded iron formation at Yerecoin (from 10 kilometres to 30 kilometres).
> ...




They are turning themselves into the 'New Force in Iron' at the moment. lol


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## Sean K (22 May 2009)

That 60 level being tested. I probably should have done a runner with my stumps back at 75, or at least taken one of them away, but eye's off the ball at the moment. A couple of positive days in my mind. Bought up during the day, finishing on highs, but tenuous... Hm, can I get another sport metaphor in.... I think if 60 doesn't hold, I'll be kicking this into touch. Done.


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## Sean K (25 May 2009)

Long tails on those candles at support around 60 which is comforting, but an absolutely disasterous looking H&S forming up, albeit, tenuous. Back to cash backing if that follows through.


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## Sean K (27 May 2009)

kennas said:


> Long tails on those candles at support around 60 which is comforting, but an absolutely disasterous looking H&S forming up, albeit, tenuous. Back to cash backing if that follows through.



Support holding well, but not out of the woods yet. Looks very promising though. Not much resistance on the way back up till that choppy area around $1.00 back in Sep, if the uptrend continues. I've sold half to lock in some profits but if this trend continues and the markets don't fall over shortly as I expect, will have to reconsider. Another junior up 200-300% since the 'bottom'.


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## Sean K (5 June 2009)

kennas said:


> Long tails on those candles at support around 60 which is comforting, but an absolutely disasterous looking H&S forming up, albeit, tenuous. Back to cash backing if that follows through.






kennas said:


> Support holding well, but not out of the woods yet. Looks very promising though.



Held up really well, but broken that uptrend support and back to the 62 support area. Parachute donned, but ready to take a seat again.


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## Sean K (12 June 2009)

60 ish held up well twice now and approaching some sort of a break up point around 74. Hardly any volume to speak of...

Not sure what's next up as far as announcements, they've got so many irons in the fire. 

Looks like might be:

*Beebyn upgrade*.
currently
7.2 million tonnes @ 57.2%Fe
‘Exploration Target’ 10-20Mtonnes

*Beebynganna initial resource*.
late 2008 drilling 3 of 7 hematite zones;
10m @ 57.7%Fe, 6m @ 61%Fe
‘Exploration Target’ 30-50Mtonnes

*Daltons initial resource*.
Mt Webber hematite discovery
from helicopter sampling;
650m by 400m @ 63.5% Fe
< 40km to rail, road construction
in progress, Atlas Iron (AGO)
drilling to south

This was from their last presentation:

Iron ore
 Daltons; 42 hole first pass drilling program permitted for May ‘09.
 Beebyn; permitting 83 hole drilling program for May-June ‘09.
 Earaheedy; permitting 128 hole follow up drilling program July ‘09.
 Western Ck; detailed aeromag survey May, drilling July ‘09.
 Mc Phee Ck; access track to main range, drilling August ‘09.
 Yerecoin; follow up drilling, metallurgy July- Sept ‘09.
 Anthiby Well; screening testwork for CID upgrade May-June ‘09
Other Projects
 Snake Well gold project; development studies and regional drilling.
 Partner funded uranium, copper, gold, nickel exploration at Lake
Frome, Blue Rose, Cookes Creek, Yuinmery, Kathleen Valley JVs.


So depending on those results could be some nice additions to the total resource inventory.


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## stu_lee44 (12 June 2009)

Kennas,did you see 500k sold at 4pm?Obviously there is a big holder who wants out. But the chart looks good.


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## shag (13 June 2009)

no thats just kennas selling a few to pay off his visa after his month long holiday or the south american 'pharmacutical' bill has come early.


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## Sean K (13 June 2009)

shag said:


> no thats just kennas selling a few to pay off his visa after his month long holiday or the south american 'pharmacutical' bill has come early.



LOL shag.  

I didn't see that trade in question, but I am actually looking to pick up some more, not sell any. Could be a host of reasons for someone selling some shares. 

We must expect this run on IO companies to stall at some point. I've a feeling we're starting to extend ourselves a bit much in general. Need a decent pullback for this to stay healthy, or we may find ourselves falling off another cliff down the track.


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## grace (14 June 2009)

kennas said:


> LOL shag.
> 
> I didn't see that trade in question, but I am actually looking to pick up some more, not sell any. Could be a host of reasons for someone selling some shares.
> 
> We must expect this run on IO companies to stall at some point. I've a feeling we're starting to extend ourselves a bit much in general. Need a decent pullback for this to stay healthy, or we may find ourselves falling off another cliff down the track.




You can be sure it will keep running because I said goodbye to my Giralia shares.  I will be back though - there is just so much to love about this stock.  If our govt lets the Asians (japanese/chinese) have the mid-west iron ore region (which is what I think will happen), it does bode well for this little gem.  They have at least 50 years worth of mining there in the mid-west (okay - not entirely drilled up, but eventually they will drill it to bits).  Earaheedy I'm speaking of.  

And as for that overall market pullback, my powder is still waiting for that.


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## Sean K (22 June 2009)

Any idea what's going on with the release today.



> Haoma Mining (25%) and Giralia Resources (75%) Significant Iron
> Ore Drilling Results at Mt Webber
> 
> Area adjoins Atlas Iron Ltd Mt Webber Iron Ore Discovery (See Atlas, June 15/19 ASX Reports)
> ...




Looks like this will add even more DSO to the inventory and make them more cheap. Or, is that cheaper?  

AGO 300@ 60% on the same strike?


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## stu_lee44 (22 June 2009)

Not quite sure,but I'm glad I didn't rush in when the announcement out.I guess 75c has heavy sold pressure and iron ore price will go further down because of stupid RIO.From the chart,it's still over 61c,but maybe it will go to test 50c support if there's any bad news tonight.

Ken,are you still holding?


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## Sean K (23 June 2009)

What it means to me is that this JV could host some nice DSO tonnage.

AGOs Mt Webber is a nice resource that they plan PFS by Jul 2010 and mining 3Mt in late 2011. Why not just add on GIRs extention to the inventory? Surely a deal would be looked at.

The GIR target is 650 metres by 400 metres. Lets give it an average depth of 30m.

650*400*30*2.5 = 19.5Mt @ around 55%

Will be pretty handy to add on to the rest of their inventory.

God knows if they'll ever mine any of their projects. More likely to sell them to neighbours for a royalty perhaps.

I sold half at 62 a couple of weeks ago to lock in profits.


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## stu_lee44 (23 June 2009)

Kennas,don't be sad.Now it's under 62c,you get a chance to sell high and buy low

As you said,it's only target of GIR.I remembered AGO's price was even 45c low last November.It bounced back only after get rid of uncertainties.The same story will be here.I've been expecting it's back for a while.Obviously some big shareholder is selling.Let's guess what's the next support? 

BTW:650*400*30*2.5 = 19.5Mt What does 2.5 mean?



kennas said:


> What it means to me is that this JV could host some nice DSO tonnage.
> 
> AGOs Mt Webber is a nice resource that they plan PFS by Jul 2010 and mining 3Mt in late 2011. Why not just add on GIRs extention to the inventory? Surely a deal would be looked at.
> 
> ...


----------



## Sean K (24 June 2009)

stu_lee44 said:


> BTW:650*400*30*2.5 = 19.5Mt What does 2.5 mean?



It's an average density factor you use for the weight of the material. The same space filled up with cork, will weigh less than the same space filled with water for example. It's just for guestimate purposes.


----------



## shag (26 June 2009)

its called the specific gravity of the material to be technical and pedantic. weight over volume.
every material has pore spaces in it plus all the rest that affects it.
they will likely heat/dry a set volume, then weigh it.
rocks and concrete has a specific gravity of around 2.5 from memory, water 1.


----------



## Sean K (13 July 2009)

kennas said:


> _And then then Yerecoin Mag deposit ann on 21 April
> 
> EXCELLENT RESULTS FROM INITIAL DRILLING AT YERECOIN MAGNETITE PROJECT
> • Initial wide spaced drilling at Yerecoin magnetite project returns positive results;
> ...




Pretty decent exploration target for this project.

Just one of the many.


ASX ANNOUNCEMENT

*EXPLORATION TARGET OF 200 -250 MILLION TONNES FOR EXPANDED YERECOIN MAGNETITE PROJECT*

• Initial Exploration Target of 200 million to 250 million tonnes of magnetite mineralisation outlined at Giralia’s 100% owned Yerecoin project.
• Giralia’s March 2009 drilling at Yerecoin highlighted excellent magnetic separation results from sighter Davis Tube Testwork with concentrate grades >71%Fe, < 1%Si02, with exceptionally coarse grind size for magnetite liberation.
• Key is location with existing rail within 1 kilometre.
• Scoping Study commissioned to review development options.

The Directors of Giralia Resources NL ("Giralia" ASX-GIR) are pleased to report an initial Exploration Target* at the Company’s 100% owned Yerecoin magnetite iron ore project. The Yerecoin project is located less than 150 kilometres north of Perth, and within 1 kilometre of existing rail access. An initial drilling program completed in March 2009 intersected moderately dipping magnetite mineralisation, with better intersections of 72 metres @ 32.4% Fe including 56 metres @ 35.7% Fe, and 50 metres @ 30.3% Fe. In May 2009 the Company significantly expanded the Yerecoin project with the acquisition of key adjoining ground from Polaris Metals NL (“Polaris”).


60 c is obviously important here technically. Not buying watching.


----------



## Sean K (27 July 2009)

Quite an incredible fall from grace from the $2.75 peak which was a bit irrational imo. Nice to say that in retrospect, but geesh. 

Could have bottomed, has a number of good IO projects developing and the market has stabilised for the moment. Could be a cup and handle there, but maybe not. 

I wonder what's next for these guys? They are pretty much an IO exploration company now, they can't spin off all their assets. Or could they?

I don't think they have any plans to actually mine anything, they're just an investment vehicle really. 

Would be a miracle if it broke that resistance.


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## stu_lee44 (27 July 2009)

Hi,Kennas.Glad you are still on board.I won't be surprise if they spin off everythingI hope it's a handle here so that we could break the resistance.But I have a feeling,this time we could see 1 dollar.




kennas said:


> Quite an incredible fall from grace from the $2.75 peak which was a bit irrational imo. Nice to say that in retrospect, but geesh.
> 
> Could have bottomed, has a number of good IO projects developing and the market has stabilised for the moment. Could be a cup and handle there, but maybe not.
> 
> ...


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## AussiePaul72 (27 July 2009)

I agree Stu_lee ...... recently GIR has had a couple of runs to 80c resistance levels but also seems to have strong support around 60c. Going on GIR history i think that when it does break the 80c barrier it may go on quite a steep run. As a holder i'm waiting patiently.
GIR has a lot of good iron ore projects and good cash in the bank. I'd like to see them diversify a bit into other commodities aswell ..... and could well be looking at other opportunities at present.



stu_lee44 said:


> Hi,Kennas.Glad you are still on board.I won't be surprise if they spin off everythingI hope it's a handle here so that we could break the resistance.But I have a feeling,this time we could see 1 dollar.


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## Sean K (28 July 2009)

Quarterly out.

Lots on the drawing board here. Should expect plenty of drilling results during the quarter, hopefully they continue to be good. 

Market cap about $110m ish, with $67m in the bank. 

$40m for this:


EXPLORATION; Exploration and development activities continued to focus on advancing the Company’s iron ore projects during the quarter;

• Daltons Iron Ore Project (75%): Initial 42 hole drilling program in progress at Mt Webber, only 150 km from Port Hedland. Early results include 16 metres @ 58.5% Fe, 34 metres @ 55.2% Fe and 16 metres @ 56.1% Fe from a small hill north of the main target area. Drilling commenced at main southern hill (600m by 450m hematite zone) in late July 2009. Atlas Iron Ltd released results from within 200 metres of tenement boundary including 66 metres @ 58.5% Fe, 1.9% Al2O3, 0.09% P, and 44 metres @ 60.1% Fe, 1.3% Al2O3, 0.09% P from the western range.

• Yerecoin Iron Ore Project (100%): A Scoping Study was commissioned to review development options for Giralia’s Yerecoin magnetite project, located less than 150 km north of Perth, and within 1 km of existing rail access. An initial Exploration Target of 200 million to 250 million tonnes of magnetite mineralisation was defined with exceptional results from Davis Tube testwork (concentrate grades >71%Fe, < 1%Si02 and coarse grind size for magnetite liberation).

UPCOMING DRILLING ACTIVITY; Despite significant delays due to permitting hold ups, particularly for environmental approvals in the Mid West region where approvals for drilling proposals routinely take in excess of 6 months, the Company now has several hundred holes ready to drill in the coming months;

 Beebyn Iron Ore Project (100%): Fully permitted 83 hole drilling program to extend the current JORC hematite resource at the Beebyn‐Weld Range deposit ajoining Sinosteel in WA's Mid West, along with further drill testing of hematite zones at the nearby Beebynganna Hills discovery. Drilling is scheduled for early August 2009.

 McPhee Creek Iron ore Project (100%): Fully permitted for 139 hole drilling program to test potential of 8km long range for remnant CID and bedded hematite near Nullagine in Pilbara following up further high grade rock chip results during the quarter.

 Earaheedy Iron Ore Project (100%): Awaiting final permitting for a further 128 hole drilling program for likely August 2009 start at the Earaheedy project, to follow up significant results from late 2008 drilling including; 20 metres @ 55.7% Fe, 12 metres @ 57.3% Fe (from surface) etc. The program will include drilling of many of the remaining 15 untested hills of hematite outcrop.

 Western Creek Iron Ore Project (100%): A detailed aeromagnetic survey was completed over Giralia’s Western Creek project, located less than 15 kms from railway facilities at Newman, to aid planning for further drilling at the current Western Creek resource of 52.4 million tonnes @ 56.7% Fe, and the new Homestead deposit and CID prospects.

Listed Investments;
PacMag Metals Limited‐copper (ASXMH) Giralia ~10.4% stake
U3O8 Limited ‐uranium (ASX:UTO) Giralia ~15% stake
Zinc Co Australia Limited ‐ zinc (ASX:ZNC) Giralia ~12% stake
Carpentaria Expl. Ltd –NSW,Qld (ASX:CAP) Giralia ~10.4% stake
Hazelwood Resources Ltd ‐nickel (ASX:HAZ) Giralia ~ 5% stake


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## Sean K (30 July 2009)

Bouncing up from support but approaching, or in, significant resistance zone.

I'm hesitant to buy more while under 82, looks like a lot of trouble there.

60 certainly firmed up as good support.


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## stu_lee44 (30 July 2009)

Yes,the resistance kept stopping GIR going to the sky.But I'm still holding and waiting for the break.



kennas said:


> Bouncing up from support but approaching, or in, significant resistance zone.
> 
> I'm hesitant to buy more while under 82, looks like a lot of trouble there.
> 
> 60 certainly firmed up as good support.


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## AussiePaul72 (30 July 2009)

In my opinion GIR can only run to 80c so many times before it breaks through ....... we can't be too far away now. With all the activity going on in this quarter (as listed by Kennas in a recent post) we may see the sp get a move on.

GIR has a market cap of ~$139M @ sp of 78c. They have about $70M cash on hand. A very healthy cash position. 

They have a strong portfolio of 8 iron ore projects and it is easy to forget about the numerous other projects that they are involved in. These are shown in the map on page 11 of the recently released quarterly. Apart from the iron ore projects, there are a further 20 projects GIR are involved in which cover the following target commodities:
Gold
Copper
Zinc/Lead
Nickel
Uranium
Cobalt

I like GIR for a range of reasons:
......... lots of cash on hand ($70M)
......... a number of very good iron ore projects 
......... a diversified involvement of a suite of almost 30 projects covering a wide range of commodities

Good luck to fellow holders!


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## Sean K (3 August 2009)

kennas said:


> EXPLORATION; Exploration and development activities continued to focus on advancing the Company’s iron ore projects during the quarter;
> 
> • Daltons Iron Ore Project (75%): Initial 42 hole drilling program in progress at Mt Webber, only 150 km from Port Hedland. Early results include 16 metres @ 58.5% Fe, 34 metres @ 55.2% Fe and 16 metres @ 56.1% Fe from a small hill north of the main target area. Drilling commenced at main southern hill (600m by 450m hematite zone) in late July 2009. Atlas Iron Ltd released results from within 200 metres of tenement boundary including 66 metres @ 58.5% Fe, 1.9% Al2O3, 0.09% P, and 44 metres @ 60.1% Fe, 1.3% Al2O3, 0.09% P from the western range.



Wow, good intersections and grades here.

Shaping up to be something.

Need to have a closer look at potential strike to come up with a guestimate tonnage.

*ASX ANNOUNCEMENT*

*THICK ZONES OF HIGH GRADE HEMATITE DISCOVERED AT MT WEBBER- DALTONS JV*

• Encouraging early results from the first 3 holes from initial iron ore drilling of main southern hill at Mt Webber;

o 58m @ 58.3% Fe from surface, including 50m @ 59.6% Fe, 1.4%Al2O3
o 32m @ 58.4% Fe, 1.7% Al2O3 from 2 metres depth
o 82m @ 55.1% Fe from surface, including 50m @ 57.9%Fe, 1.8% Al2O3

• Project located 150 kilometres south of Port Hedland, and close to existing rail
• Ongoing drilling continues to intersect thick zones of hematite mineralisation


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## LeeTV (3 August 2009)

Haoma Mining NL sp has jumped over 41% on the news in morning trade and they only have a 25% stake


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## stu_lee44 (3 August 2009)

That's great.

It seems my feeling is correct.We will see $1 soon.

Kennas, what's the next resistance?any opinion?




kennas said:


> Wow, good intersections and grades here.
> 
> Shaping up to be something.
> 
> ...


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## Sean K (3 August 2009)

stu_lee44 said:


> That's great.
> 
> It seems my feeling is correct.We will see $1 soon.
> 
> Kennas, what's the next resistance?any opinion?



What do you base $1.00 on Stu? You need to add some analysis to any targets.

I think the historical chart is a bit choppy in front, so not sure on where the next real hurdle is.

I'm cautious on this breakup so far actually. Overall market has run a bit hard for my liking. Needs a decent rest imo.


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## stu_lee44 (3 August 2009)

Hi, Kennas,

I just tried to learn the chart analysis from you.

GIR's cash and funmental are there. I try to catch some spikes.




kennas said:


> What do you base $1.00 on Stu? You need to add some analysis to any targets.
> 
> I think the historical chart is a bit choppy in front, so not sure on where the next real hurdle is.
> 
> I'm cautious on this breakup so far actually. Overall market has run a bit hard for my liking. Needs a decent rest imo.


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## Sean K (19 August 2009)

kennas said:


> Wow, good intersections and grades here.
> 
> Shaping up to be something.
> 
> ...



More great grades and depth discovered.

This could turn into something.

ASX ANNOUNCEMENT

*SIGNIFICANT HIGH GRADE HEMATITE DISCOVERY CONFIRMED AT MT WEBBER- DALTONS JV*

• More significant results from initial iron ore drilling of main southern hill at Mt Webber;
o 70m @ 58.4% Fe from surface, including 54m @ 60.9% Fe, 1.5%Al2O3
o 52m @ 60.5% Fe, 1.3% Al2O3 from 4 metres depth
o 60m @ 58.6% Fe from surface, including 44m @ 60.1%Fe, 1.7% Al2O3
• Initial resource estimate and Scoping Study to be commissioned on receipt of remaining assay results.
• Project located only 150 kilometres south of Port Hedland, potentially close enough for trucking operation to port, and also close to existing rail.


Crunching some basic numbers they have the possibility of shaping up an OK resource. They claim it's 600 x 450 and adding in 50m depth x 2.5 density it comes to around 34Mt @ 60%. Depends a bit on the drill angle and slope of deposit. This is from the southern target.

They also have an area 200 x 200 @ over 60% rock chip samples just to the north 'North Hill' which the JV partner reported returning 16-35m @ 55% +. So, possibly 2.5Mt using 25m thickness there. 

Wouldn't be surprised if they join hands with Atlas on this one in some shape or form. AGO have 30 or 40Mt on the same strike. Not sure at what stage they are in developing their project. Interesting to see where it all goes.


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## Sean K (24 August 2009)

Further great results from MT Webber southern hill close to AGO's deposit.

Should be re-rated soon I'd expect on their project pipeline. 

Sits 4th on my list of 25 companies for DSO to EV comparison and 11th for Mag. Only BRM beats it overall I think.  

But, hard to put a figure on them in the IO to EV comparison as it's all dispursed and no one major deposit. 

Well undervalued on the DSO currently rated at about 54c a ton, where the average is $6.15 on my watchlist, covering explorers and producers.

Plenty of room to move.

*STRONG HEMATITE INTERSECTIONS FROM MT WEBBER*

• Further assays received from initial iron ore drilling of main southern hill at Mt Webber.
More thick high grade low alumina intersections;

o Hole RCDW028; 52m @ 59.2% Fe, 1.2% Al2O3 from 14 metres depth, and
20m @ 58.4% Fe, 0.4% Al2O3 from 84 metres depth
o Hole RCDW029; 34m @ 60.5% Fe, 1.0% Al2O3 from surface
o Hole RCDW032; 38m @ 58.6% Fe, 1.5% Al2O3 from 10 metres depth


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## Sean K (26 August 2009)

Best results come from the final drilling, looks to be very low impurities which is good. No time frame on the initial JORC, so wait and see. Won't be too great I think. It's not a big area that they've drilled and deposit ranges 10-50m thickness by the look.

Not sure what the future of this will be. Couldn't be a standalone deposit. Maybe they will hit something grander further to the north.

Or, maybe a JV with AGO for a Mt Webber combined operation. 


ASX ANNOUNCEMENT

BEST INTERSECTIONS TO DATE IN FINAL MT WEBBER HEMATITE RESULTS

• Final assays received for the last 5 holes from initial iron ore drilling at Mt Webber.
More thick high grade low alumina intersections, including best results yet;
o Hole RCDW036; 68m @ 60.9% Fe, 0.7% Al2O3 from surface,
o Hole RCDW038; 38m @ 58.3% Fe, 0.6% Al2O3 from 4 metres depth,
o Hole RCDW040; 64m @ 55.6% Fe, 1.5% Al2O3 from surface, including
30m @ 60.1% Fe, 1.0% Al2O3
• Every hole on main hill returned significant hematite intersection.
• Data base and interpretation being finalised for initial resource estimate and Scoping Study.


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## stu_lee44 (26 August 2009)

Good on you,Kennas.

I'm keeping selling and buying for a while. The result is good. I just wonder waht time it will rocket.



kennas said:


> Best results come from the final drilling, looks to be very low impurities which is good. No time frame on the initial JORC, so wait and see. Won't be too great I think. It's not a big area that they've drilled and deposit ranges 10-50m thickness by the look.
> 
> Not sure what the future of this will be. Couldn't be a standalone deposit. Maybe they will hit something grander further to the north.
> 
> ...


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## lazyfish (26 August 2009)

kennas said:


> Best results come from the final drilling, looks to be very low impurities which is good. No time frame on the initial JORC, so wait and see. Won't be too great I think. It's not a big area that they've drilled and deposit ranges 10-50m thickness by the look.
> 
> Not sure what the future of this will be. Couldn't be a standalone deposit. Maybe they will hit something grander further to the north.
> 
> ...




Had a quick read and I think it would be around 30MT.. ish, didn't spend too much time on it. I think most of the tennements are o.k. in terms of grade and contaminants. However I don't know how they are going to operate/blend with all their deposits so far apart, and do they have potential access to rail and port?

I have a buy order placed some days ago and it's not filled yet...


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## Sean K (28 August 2009)

Yes, agree with the deposits all over the place comment.

They need to discover a whopper in the one location close to infrastructure.

Current EV is $58m and they have 100m DSO and 72m Mag, both numbers to be upgraded in the coming months with the recent discoveries and drilling campaigns. 

Their DSO to EV is worth $0.58 a ton - average market $6.34
Mag to EV is $0.81 a ton - average $0.93

Under the averages probably for locations.

But lots of exploration upside. 

Not sure which is their most valuable deposit.


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## Sean K (12 September 2009)

kennas said:


> Bouncing up from support but approaching, or in, significant resistance zone.
> 
> I'm hesitant to buy more while under 82, looks like a lot of trouble there.
> 
> 60 certainly firmed up as good support.



Chart update, broke that 82 short term area but then failed on the breakthrough. Support established about 70 and now broken through again to finish at a 11 month high yesterday. Probably related to the other positive IO news about. Been good since the breakout at 40c!


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## Sean K (14 September 2009)

kennas said:


> Crunching some basic numbers they have the possibility of shaping up an OK resource. They claim it's 600 x 450 and adding in 50m depth x 2.5 density it comes to around 34Mt @ 60%.






lazyfish said:


> Had a quick read and I think it would be around 30MT.. ish, didn't spend too much time on it. I think most of the tennements are o.k. in terms of grade and contaminants.




We were close enough, but it's higher.


*INITIAL IRON ORE MINERAL RESOURCE ESTIMATE FOR MT WEBBER HEMATITE DEPOSIT*

• Initial Inferred Mineral Resource for Haoma’s 25%/Giralia’s 75% owned Mt Webber deposit at the Daltons JV.
o *Overall Resource 40.0 million tonnes @ 57.3%Fe (62.3% CaFe)* and 1.42% Al2O3 o Includes higher grade zone of 24.6 million tonnes @ 59.0%Fe (64.2% CaFe) and 1.33% Al2O3 with an Fe cut-off of 57%
• This maiden estimate for the Mt Webber deposit is based on a 40 hole first pass drilling program completed in May to August 2009.
• The low alumina resource is near-surface, and within road haulage distance of Port Hedland.
• Mining Scoping Study commenced to evaluate development options.
• Recent rock sampling and mapping of areas of hematite potential within the Daltons JV has identified targets for resource growth, particularly immediately north of the Atlas Iron resource on the western range at Mt Webber.


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## lazyfish (15 September 2009)

They included the northern zone and some lenses below the main zone which wasn't visible on cross section, otherwise you would be spot on 

All GIR need is access to infrastructure. They have more than enough in the ground IMHO. (Portman had a market cap of 2B and a resource less than 100mt when bought out by Cliffs, if I remember right).


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## prawn_86 (17 September 2009)

This is definitely the one that got away for me 

Didnt have any spare money available at first when i looked at them around 30c then when i did i kept waiting for a pull back that never came.

Oh well, thems the breaks


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## Sean K (17 September 2009)

Yes, bad timing prawn, I was lucky enough to have some spare mullah down at the bottom. Those couple of funds I sold in Jan 08 have been put to good work. 

GIR keeps coming out with good results, but will any of these deposits be mined? Infrastructure is a major consideration here, if not the consideration. They either need a monster find to warrant rail, or to sell off the projects/JV with those that do. 

ASX ANNOUNCEMENT

IRON ORE EXPLORATION AND DEVELOPMENT UPDATE
• Successful 77 hole drilling program completed at Beebyn iron ore project in WA’s Midwest.
o best intersections to date at Beebynganna Hills; 28 metres @ 59.1% Fe, and 28 metres @ 58.3%Fe, including 16 metres @ 61.1%Fe
o resource extensions confirmed at Weld Range; 18 metres @ 61.3%Fe
• Drilling in progress at McPhee Creek testing 8 kilometre long iron formation range.
• Track construction nearly complete at Earaheedy for 128 hole program in late September.
• Scoping level mining studies in progress at Yerecoin and Mt Webber to assess development options.

The Directors of Giralia Resources NL (“Giralia”) report further progress in ongoing assessment of the Company’s iron ore projects. Giralia has 7 iron ore projects in Western Australia currently being evaluated, with initial JORC resources now released for 5 deposits. 

Scoping level mining studies are being conducted by respected consultants ProMet Engineers on 2 projects (Mt Webber and Yerecoin) where infrastructure solutions are readily apparent. 

*The Company’s global iron ore resource inventory is now over 132 million tonnes* (Table 1 below), with additional substantial exploration targets established at several projects.


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## Sean K (23 September 2009)

Oh dear Prawn. 

Since breaking 40-45 ish has gone OK.

I love it when a plan comes together.

Seems like investing in fundamentally oversold/undervalued stocks and buying and selling to TA can pay off. 

Don't tell the solo TA trotters.


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## Sean K (26 September 2009)

Daltons continues to provide more upside.


*NEW HEMATITE ZONES DEFINED AT DALTONS JV*

• Helicopter supported mapping and rock sampling has identified 7 new hematite zones at the Daltons JV (Giralia 75%, Haoma 25%).
• The most promising new zone defined is on the western range at Mt Webber ~1km north of Atlas Iron’s recently announced resource.
• An initial iron ore resource of 40.0 million tonnes @ 57.3% Fe was announced by the Daltons JV on 14 September for the eastern range at Mt Webber. The near-surface, low alumina resource is within road haulage distance of Port Hedland. A Scoping Study is in progress to evaluate development options.
• DSO potential also confirmed in the Soanesville area in the central portion of the Daltons JV around 10 km west of Mt Webber.


Within road haulage of Port Headland? 150km? Is that close enough? How many trucks would they have to have to move a sufficient tonnage? Cripes...

By the aeromagnetics it doesn't look like they aren't going to really define too much more tonnage here. But, never know.

Developing quite a lot of tonnage scattered all over the place, but not sure if they'll ever find enough in the one spot to be a miner. 

Updated IO tenaments holdings:

About Giralia Resources NL

Giralia Resources NL ("ASX: GIR") is a well funded (~$70 million cash) mineral exploration company based in Perth, Western Australia. Giralia's iron ore projects in Western Australia are the Company's major exploration and development focus:

Beebyn (100%) – Hematite (MidWest) – Adjoins Sinosteel Weld Range deposits. Initial Inferred Mineral Resource 7.2 million tonnes @ 57.2% Fe. Major upside at nearby Beebynganna Hills project, where 7 new zones of hematite have been discovered.

Western Creek (100%) – Hematite (15 km W of Newman) – Marra Mamba iron ore as direct extensions to BHP Silver Knight deposit. Inferred Mineral Resource 52.4 million tonnes @ 56.7% Fe. Deposit is near surface, with several zones open ended.

Earaheedy (100%) – Hematite (200 km S of Newman) –23 known hills with rock sample grades over 57% Fe, within 130 kilometres of iron formations on Giralia tenements, with shallow dips indicating large tonnage potential. Drilling; 20 metres @ 55.7% Fe, 8 metres @ 58.7% Fe, and 12
metres @ 57.3%Fe from 8 hills tested to date.

Anthiby Well (100%*) -CID (Pilbara) – Channel iron deposit (CID) mesas, drill intersections include 32 metres @ 55.1%Fe including 24 metres @ 56.0%, 22 metres @ 56.3%Fe, and 18 metres @ 56.2%Fe. Initial Inferred Mineral Resource 63.5 million tonnes @ 50.5% Fe, including 37.6 million tonnes @ 53.6% Fe (59.1%CaFe). * subject to production royalty

McPhee Creek (100%) – CID (Pilbara) – Channel iron deposit (CID) mesa, new drill intersections include 12 metres @ 56.1 % Fe, 10 metres @ 57.2% Fe. Initial Inferred Mineral Resource 5.17 million tonnes @ 53.6% Fe (60.4%CaFe).

Daltons (75%) - Hematite (Pilbara) – newly discovered zone of massive hematite outcrop, only 150 km south of Port Hedland, and 40km from FMG, BHP rail lines. Drilling 70m @ 58.4% Fe from surface, including 54m @ 60.9% Fe, 1.5%Al2O3. Initial Inferred Mineral Resource 40.0 million tonnes @ 57.3% Fe (62.3%CaFe).

Yerecoin – Magnetite (150 km from Perth) – 1 km to railway. Initial drilling March 2009; 72 metres @ 32.4%Fe, 52.4 metres @ 31.6 %Fe. Coarse magnetite; excellent DTR testwork. Scoping Study in progress.


So, over 140m tons DSO scattered about the country and a potentially huge magnetite deposit close to Perth.

Scoping study on Yerecoin and they haven't even got a resource yet. HUH?


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## Sean K (30 September 2009)

GIR is an announcement machine....



> *NEW HEMATITE DISCOVERY AT MCPHEE CREEK*
> 
> • Encouraging results from the first 12 holes from an initial widely spaced iron ore drilling program testing the 8km long main range at Giralia’s 100% owned McPhee Creek project;
> o 58m @ 55.6% Fe from 4 metres depth including 36m @ 58.1% Fe
> ...




Current McPhee resource:

McPhee Creek (100%) – CID (Pilbara) – Channel iron deposit (CID) mesa, new drill intersections include 12 metres @ 56.1 % Fe, 10 metres @ 57.2% Fe. Initial Inferred Mineral Resource 5.17 million tonnes @ 53.6% Fe (60.4%CaFe).

Looks like that western area could hold quite a resource. 8km range....


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## grace (30 September 2009)

kennas said:


> GIR is an announcement machine....




Yes, be careful that you do not get RSI from posting for this resource giant.  Can't help but think that someone would love to gobble the gorilla up one day.  Fingers in so many pies.......
I don't own at present and it is hurting.


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## Sean K (1 October 2009)

Nice intraday sell off today. Rejected $1.10 ish pretty convincingly. Will be interesting to see if it's bought up from the intraday lows as it has been recently. Fair way back to any significant support.


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## Sean K (13 October 2009)

kennas said:


> GIR is an announcement machine....
> 
> Current McPhee resource:
> 
> ...



The announcement machine out with an update on McFee Ck.



> *MORE SIGNIFICANT INTERSECTIONS AT MCPHEE CREEK HEMATITE DISCOVERY*
> • More encouraging results from a further 9 holes from initial widely spaced iron ore drilling testing the 8km long main range at Giralia’s 100% owned McPhee Creek project, located 220 kilometres south east of Port Hedland;
> o 46 metres @ 60.2% Fe open at end of hole
> o 34 metres @ 58.9% Fe open at end of hole, including 28 metres @ 60.4% Fe
> • Results for a further 26 holes to come.




8 kilometers strike might turn this into something real decent. Like maybe even mineable!


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## Sean K (16 October 2009)

Wow, McPhee Ck is shaping up to be something more significant. They need a standalone decent deposit and this could be it.



> *SIGNIFICANT HEMATITE IRON ORE DISCOVERY CONFIRMED AT MCPHEE CREEK*
> 
> • Outstanding new drilling results confirm a significant hematite iron ore discovery at Giralia’s 100% owned McPhee Creek project, located 220 kilometres south east of Port Hedland;
> 
> ...




90m DSO with low contams is very good. 

8km range, with up to 90m DSO....

Whoohoo!! 

This will certainly take their overall inventary above 200m DSO, and then the Mag potential to be expanded. Turning into a much larger Iron explorer, with cash.


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## Sean K (17 October 2009)

grace said:


> Can't help but think that someone would love to gobble the gorilla up one day.  Fingers in so many pies.......



I think the recent action is related both to the McPhee Ck drilling and the BHP grab for UMC. Seems they are pretty keen to prevent the Chinese Railway dudes take over too many juniors. This should provide good support to all the juniors with shored up resources close to rail lines, or port. I'm not sure if 220km or whatever is really close enough, but maybe. BRM and FRS are probably in a better position, but FRS is in some type of arrangement with the rail dudes already. 

Great recovery from that sell off a few days ago. Was a good buying oportunity in retrospect.


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## Gurgler (28 October 2009)

kennas said:


> Was a good buying oportunity in retrospect.




Perhaps that buying opportunity is coming back - RSI dipping below the base line. Trigger finger is getting itchy!


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## Sean K (29 October 2009)

Gurgler said:


> Perhaps that buying opportunity is coming back - RSI dipping below the base line. Trigger finger is getting itchy!



Pretty dramatic collapse. Quite a few have turned turkey the past week. Markets well overdue for a decent correction. Maybe this is it. Lets hope it's not the start of the W shaped recovery, or if it is the right hand bottom of the W is a little higher...


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## Dukey (3 December 2009)

Gurgler said:


> Perhaps that buying opportunity is coming back - RSI dipping below the base line. Trigger finger is getting itchy!




well Gurgler , kennas  - that certainly was a great buying opportunity!!  Hope you guys bought more - look what it's done since then!!

and yet again I missed it with Giralia.  I'm beginning to make myself sick with this one.  but it can fall sharply at times as I found out a year or so back. 

Any thoughts on where this run will end?  I'm thinking 1.55 to 1.60 ish?? but that's more of a punt than anything else.


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## Sean K (4 December 2009)

Fundamentally I think it's about right, but with some more drilling success it could be worth much more. Most projects are still open. McPhee Ck could be much much bigger with the recent drilling results so just have to wait and see. They need one decent project to expand to around the 100m ton mark I think to be on the radar of a major. I doubt they will ever mine anything themselves. Maybe McPhee Ck will be it? I didn't pick up any more unfortunately, I've been selling things recently.


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## Sean K (29 January 2010)

Quarterly Summary:



> *EXPLORATION*; Global JORC resource inventory at Giralia’s 7 iron ore projects in Western Australia, is now 184.5 million tonnes, boosted by 2 significant new discoveries within trucking distance of Port Hedland.
> 
> • *Daltons Iron Ore Project *(75%): Independent Scoping Study findings delivered on development options for Mt Webber DSO iron ore deposit (Maiden Resource September 2009: 40.0 million tonnes @ 57.3% Fe);
> o Base Case of 2Mtpa mining and road haulage to Port Hedland, targeting production by 2nd quarter 2011;
> ...




Now trading at 1.12 a tn DSO, so it's probably fairly valued based on the last BHP transaction at 1.20. However, there's nothing factored in for the potential at McPhee Ck - another 50-100Mt, and the other projects being drilled or about to be. So, long term still looks good.

Just looking at the junuior comparison, and look how cheap FRS is compared to the others. 65c a ton for DSO. Of course if you call BRM a DSO operation (it needs beneficiatiation) it's still at about 20c a ton!


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## Dukey (3 February 2010)

Hi guys - I've finally got back in on Giralia takinmg advantage of this minor correction.... hopefully she'll treat me better than she did last time  !

Tenements and resources stacking up higher each month (as stated by Kennas on many occasions), fingers in many many pies... so we'll see what happens. Stops in place though - just in case though.

wonder how much this Cu deal will be worth for them... hard to put $$ on that one?

-D


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## Sean K (26 February 2010)

I've been off the ball and missed the Yerecoin Scoping Study. GIR hasn't moved much so maybe it's not that significant. 

ASX ANNOUNCEMENT

*YERECOIN MAGNETITE PROJECT SCOPING STUDY OUTCOMES*

• Findings from independent Scoping Study on development options for Giralia’s 100% owned Yerecoin magnetite project delivered;

o Design basis is production of 2.5 mtpa of magnetite concentrate, with transport on existing rail to Kwinana port.
o High level financial analysis indicates that the project is viable, and attractive under several scenarios;
CAPEX Contingency included #OPEX $/t *NPV(10%) *IRR
Base Case $415M $54M $58 $67M 13.8%
Scenario 1 $373.5M $48M $55 $321M 33.8%
# * see notes to Table 1 for details
o Detailed testwork confirms excellent beneficiation characteristics, allowing
evaluation of several product specifications, including Blast Furnace grade, Direct Reduction grade and sinter feed blend.
o Implementation schedule indicates production possible by 3rd quarter 2013.

• Resource drilling has commenced to establish initial JORC resource within current Exploration Target of 200 to 250 million tonnes.

Any thoughts?


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## Dukey (7 March 2010)

kennas said:


> I've been off the ball and missed the Yerecoin Scoping Study. GIR hasn't moved much so maybe it's not that significant.
> 
> ASX ANNOUNCEMENT
> 
> ...




Sadly I just can't get it right with GIR!... got stopped out on the last dip - then off she goes into $1.80 territory!   just can't win with this one!

The project though sounds good kennas. Bigger than I expected - but mag, not haematite.  Dunno - I'm no Fe guru, but between this project and the ridiculous number of other explorations on the go....  something's gotta give ... sometime.

just hope i get a chance to get back in before it takes off.

-D


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## chops_a_must (11 March 2010)

On this purely on the technicals.

But as always, the fundamentals look pretty good to match.

Looks like an outstanding breakout to me.


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## Dukey (1 April 2010)

OMG!!  can't believe the performance of GIR in the last month or so.... no actually,  I can believe it. It's fair enough based on the resources and projects the have - what I can't believe is that this one got away from me again. I got stopped out maybe 2 months back after setting fairly tight stops (due to seeing GIR fall quickly in the past)... then bang! - she strolls from $1.50 through $2 mark and onwards and upwards barely missing a beat to $2.30.

Obviously i should've been prepared to back my judgement better - and allow it some room to move, rather than stopping myself out. I guess it's part of the game when you work 5 days a week and can't spend the time required to watch carefully either....

oh well.... next time.... there's always my fave and faithful CSG sector!


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## gdaf (5 April 2010)

Then take a look at their spin off ZNC, listed a couple of years ago, just announced a target of 1.2b tonnes of magnetite (on only half the BIF tested). Around the same time as anouncing this astonishing result, they slip to the market that they've also got themselves a high grade manganese discovery at Earaheedy that extends over 4 strike kilometres. 

This company's total share register is around 60m issued when I last checked. GIR is their largest shareholder and hold 8m of these - the top 40 own over 50% of the company. 

This is valued at an inconcievable $11.5m. Don't say I didn't tell you.... LOL


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## Sean K (16 April 2010)

Astonishing recovery from the bottom. And we called it here folks!  No need to go to any trashy tipster sheets for a 12345 count. 

Hardly any news here recently, so probably just supported by ongoing IO price negotiations in the sector.

I sold out of this about 5 months ago with a great profit. Hope others have made a mint also if you stayed in. Great run!


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## outback (16 April 2010)

Wished I'd jumped on at 50c, but would be upset if I'd not got in when I did ($1.20), just keeps on keeping on.


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## grace (16 April 2010)

I have this one stuck on my mobile - just to remind me each day how dumb I was to let it go.  I think it is time I stopped punishing myself.

It has been a great run with the Gorilla.  Always had so much potential - just took the market to realise it, eventually.


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## lazyfish (16 April 2010)

This one has already reached my initial target but I am just waiting for a couple more month so I won't have to pay too much tax. First time I had to worry about CGT lol.


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## Sean K (16 April 2010)

lazyfish said:


> This one has already reached my initial target but I am just waiting for a couple more month so I won't have to pay too much tax. First time I had to worry about CGT lol.



I thought about that sort of thing a couple of years ago. Watched MAK go from about 2.75 ish to 1.75 ish while I was waiting for the end of financial year thing. I had about 300k in it. Add that up. And it is at about 50c now.


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## shag (23 April 2010)

kennas said:


> I thought about that sort of thing a couple of years ago. Watched MAK go from about 2.75 ish to 1.75 ish while I was waiting for the end of financial year thing. I had about 300k in it. Add that up. And it is at about 50c now.




yr comments re the western part of mcphee turned out dead true as well, it does show how these unloved stocks suit this type of forum.
i love the graph too, chugging steadily up a hill.
i'm supprised bhp didnt lock up some of these fellas over the gfc. such a quality product. i guess the rio thing was their focus plus competition issues.


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## TheAbyss (23 April 2010)

Lock in profits always. As a general rule a companies SP goes up on an escalator and down on an elevator.

Having said that Giralia have engaged Toll to look at transporting ore and port access and look to have a decent future IMO.


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## Sean K (22 May 2010)

Another one to watch closely when the dust settles from the financial meltdown and profit tax BS. On my watch list to get back in on significant correction.

McPhee Creek could be the one deposit they can hang their hat on instead of having about 50 potential projects all running undetected.

100-140Mt potental for just a small part of it. Could be double that by their guestimates on the map of the project. See ann for details.

20 May

*ASX ANNOUNCEMENT
SIGNIFICANT EARLY ASSAYS CONFIRM EXTENSIONS TO MCPHEE CREEK RESOURCE*

• First assay results from major resource definition drill-out of the new 100% owned McPhee Creek main range discovery, located 220 kilometres south east of Port Hedland;
o 114 metres @ 59.9% Fe, incl. 106 metres @ 60.5% Fe, 1.7% Al2O3
o 56 metres @ 56.4% Fe, incl. 36 metres @ 58.5% Fe, 1.7% Al2O3
• Results continue to indicate a significant hematite iron ore deposit, with large tonnage potential along the range which is ~8 kilometres long and up to 1 kilometre wide.

The Directors of Giralia Resources NL (Giralia) are pleased to report the first assay results from the major, ongoing resource definition drilling program at the Company’s 100% owned McPhee Creek iron ore discovery, located 220 kilometres south-east of Port Hedland, and around 50 kilometres north of BC Iron Limited/ FMG's Nullagine Iron Ore JV deposits in the Pilbara region of Western Australia. Three drill rigs are now in operation at Mc Phee Creek.

On 15 December 2009 the Company announced the maiden JORC Inferred Mineral Resource for the new main range discovery at McPhee Creek of 52.1 million tonnes @ 56.0%Fe (61.7% CaFe) at 50% Fe cut-off, including 33.8 million tonnes @ 57.3%Fe (62.9% CaFe), based on 71 RC holes completed to date, since discovery in September 2009.

The main range deposit remains open in most directions, with large tonnage potential indicated along the ~8 kilometres long and up to 1 kilometre wide range. Outcropping hematite mineralisation extends south from the current resource into an interpreted synclinal keel where rock sampling has returned high iron grades. The Company has established a conservative initial *Exploration Target# of 100 to 140 million tonnes of hematite iron ore (57-60%Fe) for the main range deposit, for a ~250 metre wide zone along the western side of the range only.*


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## Sean K (19 June 2010)

More outstanding intersections at McPhee.



> 18 June 2010
> ASX ANNOUNCEMENT
> ASSAYS CONTINUE TO CONFIRM MAJOR EXTENSIONS TO MCPHEE CREEK DISCOVERY
> • More thick DSO hematite intersections from resource growth drilling at the 100% owned McPhee Creek main range discovery, located 220 kilometres south east of Port Hedland.
> ...




Looking at 100-140Mt plus which is almost a company maker in itself.


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## Sean K (1 July 2010)

kennas said:


> Looking at 100-140Mt plus which is almost a company maker in itself.



Hmm, maybe even better than this. Looks like it could be a massive deposit.



> *ASX ANNOUNCEMENT
> 
> THICK HEMATITE INTERSECTED ACROSS ALMOST FULL WIDTH OF MCPHEE CREEK MAIN RANGE*
> 
> ...




146m at 56%Fe eoh?


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## grace (1 July 2010)

kennas said:


> Hmm, maybe even better than this. Looks like it could be a massive deposit.
> 
> 146m at 56%Fe eoh?




For Giralia, there is no question on the quality or quantity of their iron ore deposits.  The question for Giralia is, will they get to mine it during this boom???  With China slowing, will we see iron ore prices slipping and then these exploration companies back at the 08 price levels???


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## Sean K (8 July 2010)

grace said:


> For Giralia, there is no question on the quality or quantity of their iron ore deposits.  The question for Giralia is, will they get to mine it during this boom???  With China slowing, will we see iron ore prices slipping and then these exploration companies back at the 08 price levels???



Yes, good points grace. They are some time away from mining and while 220km to Port is closer than some, opex will still be a major issue if prices fall.

More excellent results on McPhee Ck.

They'll have to upwardly revise the exploration target from 140m tn you'd think.



> 8 July 2010
> ASX ANNOUNCEMENT
> STRONG NEW DSO RESULTS FROM NORTHERN MCPHEE CREEK MAIN RANGE
> 
> ...


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## Sean K (17 July 2010)

That resource upgrade should be out this week. Not sure if the 'news' will do anything to the sp, unless it comes in at over 100mt with the exploration upside pushed up over 200mt or so. 

Performed ordinarily after probably overdoing it up to $2.50 with hardly a rest. You'd really want to see $1.75 hold. While that does it's still longer term up, but will be in trouble under that. Breaking up through $2.00 would be very positive.


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## Sean K (26 July 2010)

Much larger upgrade than I expected but the market obviously did. Well  factored in perhaps.

New Exploration target for a DSO operation is quite significant. If IO prices hold at a reasonable level, you'd expect this to get up one day. No idea what a potential Capex / Opex would be so very difficult to say.

26 July 2010
ASX ANNOUNCEMENT
*INTERIM UPGRADE TO JORC RESOURCE ESTIMATE FOR MCPHEE CREEK MAIN RANGE DEPOSIT*

• Interim upgrade to JORC Inferred Mineral Resource estimate for Giralia’s 100% owned McPhee Creek main range deposit;
o New resource estimate 161.4 million tonnes @ 56.2 % Fe (62.1% CaFe).
• Represents a major increase to previously reported 52.1 million tonne JORC Mineral Resource estimate, and exceeds previously reported Exploration Target of 100 to 140 Mt.
• The estimate incorporates new drilling results for only the southern 25-30% of the main range.
• Significant hematite intersections outside the new interim JORC reported Mineral Resource include;
o 112 metres (to end of hole) @ 57.7% Fe (63.3%CaFe) 0.06% P, including 74
metres (to end of hole) @ 60.3% Fe, and
o 100 metres @ 57.8% Fe (63.4%CaFe) 0.08% P.
• Upward revision of Exploration Target# to 250 to 350 million tonnes @ 56-60% Fe.
• All remaining assay results should be received in the next week, with further resource update anticipated by late August.
• The resource is near-surface, and potentially within road haulage distance of Port Hedland.

Their list of projects is pretty impressive:

*Daltons-Mt Webber*: 40Mt JORC Resource, 150km from Port Hedland. Scoping study on 2mtpa truck/ship; NPV*A$170M, IRR 53.9%. Pre-Feasibility Study in progress
*McPhee Creek*: 161Mt JORC Resource. New discovery 220km from Port Hedland. Exploration Target 250 - 350Mt. Scoping Study in progress.
*Western Creek*: 52.4 Mt JORC Resource adjacent to BHP Billiton Newman rail. 50- 100Mt Exploration Target .
*Anthiby Well*: 37.5Mt JORC Resource, 220km to port at Onslow.
*Beebyn*: 7.2Mt JORC Resource adjoins Sinosteel project, 3rd party rail planned to doorstep. Exploration Target of 40 - 70Mt.
*Yerecoin*: Magnetite project 1km from rail. Exploration Target 200 - 250Mt. Scoping study on 2.5mtpa concentrate via existing rail/ port; NPV* A$321M, IRR 33.8%.
*Earaheedy*: Greenfields play. Early movers in 2nd biggest iron formation basin in Australia. Exploration Target of 750Mt - 1.25Bt.

They now have about 280Mt JORC at and EV of $331m gives them a DSO to JORC EV of $1.80 a ton. Looks probably about right at the moment compared to the others.


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## Sean K (14 August 2010)

Quite a few analysts following GIR now.

Maquarie's last report:



> *Possibility of a game-changer Event*
> 
>  GIR has increased its DSO resource and exploration target at McPhee
> Creek.
> ...




I hadn't really thought too much about port capacity to date. Would be a game changer if they secured something.

Maybe the Chindians will come and build something for them?

If not, might be just a has been until the iron starts running out for BHPRIOFMG

One to watch if the market falls over again I think.


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## Sean K (24 August 2010)

Good results from W Creek.

Could turn into something significant too.

Impurities high but.



> 24 August 2010
> ASX ANNOUNCEMENT
> 
> STRONG DSO RESULTS FROM HOMESTEAD PROSPECT AT WESTERN CREEK
> ...




But, considering proximity to Whaleback, possible best case could be feed to BHP. Might earn them some dollars, if BHP care, which I doubt actually.

Looks like BHP may have an entire range of DSO at Whaleback so this is tricky.

Maybe a red herring and they should concentrate on something more substantial?

There seems to be a massive area of undevelopment west of Newman.....


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## beetleb (27 September 2010)

Does anyone have views on where GIR will stop - plateau and go again or a correction in store. Also, what do you think UBS nominees plans are? Thanks


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## Sean K (6 October 2010)

New results that seem to be outside the current resource at depth that will add a few more tons to McPhee Ck. With essays pending on how deep it goes. Could be quite large down there.

154m! 

Shame there's no rail line close by. Trucking 220km just can't be a sustainable can it? 

Maybe FMG will help them out and allow them to use that line to the south. They can build the spur up to McPhee and take a stake in the project..Done.

6 October 2010
ASX ANNOUNCEMENT
NEW DRILLING RESULTS FROM MCPHEE CREEK MAIN RANGE DEPOSIT

• Drilling of resource growth targets continues at Giralia’s 100% owned McPhee Creek main range deposit.

• Significant new results include;

o 154 metres @ 57.8% Fe, including 106 metres @ 60.0% Fe
o 72 metres @ 58.2% Fe
o 100 metres (open at end of hole) @ 57.3% Fe

• Further resource update anticipated in late October.


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## Boggo (8 November 2010)

beetleb said:


> Does anyone have views on where GIR will stop -




It had a few issues at getting past 2.90, seems to be in blue sky now after a a convincing break up through 2.90 and 3.00.

(click to expand)


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## prawn_86 (21 December 2010)

Takeover offer from Atlas valued at $4.57 per share baed on either full amount in Atlas scrip of Atlas scrip plus 50c cash.

These guys were about 40c during the height of the GFC. Not a bad return for those who had the kahunas to hold


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## shag (21 December 2010)

prawn_86 said:


> Takeover offer from Atlas valued at $4.57 per share baed on either full amount in Atlas scrip of Atlas scrip plus 50c cash.
> 
> These guys were about 40c during the height of the GFC. Not a bad return for those who had the kahunas to hold




its knocked ago a bit, initially anyway
my small handfull has progressively grown well. this will muck up its grt graph.
not sure of synergies, but i guess with ago being a producer its got to be good.

its a better deal than that wham bamb lot who made an offer on frs n brm.


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## TheAbyss (21 December 2010)

Loving it. The offer for GIR let me get back into AGO after locking in profits a few weeks back.

The merged entity will be a $2.5 Billion IO company and clearly the next up and coming major behind BHP, Rio and FMG.


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## grace (21 December 2010)

grace said:


> I have this one stuck on my mobile - just to remind me each day how dumb I was to let it go.  I think it is time I stopped punishing myself.
> 
> It has been a great run with the Gorilla.  Always had so much potential - just took the market to realise it, eventually.





What a fool I am.  Logged in and wasn't sure where I was there for a minute with all of Joe's artwork!  Amazing run for the gorilla.  After studying the fundamentals, I sold this on technicals.  What an idiot....the faithful will have a smile and rightly so!  I just can't wait to see what they will do with eeraheady.....massive potential.


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## Sean K (21 December 2010)

Oh dear, not another one... 

I did hours on this little puppy and pulled out before the vinegar stroke. Ouch. Again.


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## outback (21 December 2010)

Ye Ye Yes YES Yes YesOh God I'm Yes Yeeessssssss

Sorry Kennas


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## Sean K (21 December 2010)

outback said:


> Ye Ye Yes YES Yes YesOh God I'm Yes Yeeessssssss
> 
> Sorry Kennas



No No No No Nooooooo!!

Yes, well deserved. 

I ramped this as much as I could allow myself and sold when I thought it was fairly valued. 

About $2.50 ago...


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## skc (21 December 2010)

kennas said:


> No No No No Nooooooo!!
> 
> Yes, well deserved.
> 
> ...




I had them 1 week ago. It served its purpose as part of a pair trade.

Would have been a fantastic xmas present if the trade could just last a bit longer...


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## Dukey (21 December 2010)

kennas said:


> No No No No Nooooooo!!
> 
> Yes, well deserved.
> 
> ...




Oh No... Sorry Kennas, sorry Grace!... after all your hard work here 

... for once - after about 3 or 4 attempts with GIR - I got the timing about right. buying back in a month ago... didn't get round to posting the fact.  I was looking fwd to holding forever this time well beyond $10!!... and lo and behold Atlas comes knocking.

Can't complain though...sadly what I'll make back here won't make up for what I lost first time around... but maybe Atlas will. - so thats the next big decision - Is atlas going to be worth putting in the bottom drawer?


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## grace (22 December 2010)

Dukey said:


> Oh No... Sorry Kennas, sorry Grace!... after all your hard work here
> 
> ... for once - after about 3 or 4 attempts with GIR - I got the timing about right. buying back in a month ago... didn't get round to posting the fact.  I was looking fwd to holding forever this time well beyond $10!!... and lo and behold Atlas comes knocking.
> 
> Can't complain though...sadly what I'll make back here won't make up for what I lost first time around... but maybe Atlas will. - so thats the next big decision - Is atlas going to be worth putting in the bottom drawer?




Well done Dukey.  At least you got some money back on it.  I first invested in GIR some 4 years ago for the uranium, then the iron ore later.  I think I put a good two weeks into studying the deposits as there were just so many.  The Directors went around in the 90's picking up all of the best of the deposits when mining was on the nose.  I never thought they would mine the stuff, just drill it up, spin it off with IPO after IPO.  Sadly, I have made losses on GIR I think on three different transactions.  My timing was always bad with this one.  I will learn from this though - believe in your own research and stick with it.  GIR was one of my first speculative investments sub 30cents back in 2006.  If only.....


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## TheAbyss (22 December 2010)

What chances that HAO and AJM get mopped up by AGO also in this round of M&A? There has been some increased volume already so maybe.


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## pedalofogus (22 December 2010)

TheAbyss said:


> What chances that HAO and AJM get mopped up by AGO also in this round of M&A? There has been some increased volume already so maybe.




First of all, well done to all GIR holders.  I believe the new AGO/GIR entity will be a market leader in years to come.  The exploration of GIR ties in very well with the excellent knowledge that AGO holds in relation to the actual extraction of Iron Ore.

I am sure they would be keen to get their hands on AJM's 30% holding in the Mt Webber project, especially if the resource gets upgraded as i suspect it will.  I don't think they would go after the whole company, because there are a lot of parts of AJM that wouldn't 'gel' with AGO.

If they were willing to pay the right price, i am sure AJM directors would be happy to offload it to AGO.  The company's directors have been very open in admitting that they aren't necessarily interested in Iron Ore, and would use the funds from the sale of Mt Webber to invest in the core focus of the business which is South East Asian Coal.

The new expanded Mt Webber project contains a huge resource base, so why wouldn't AGO want to own 100% of it


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## Dukey (22 December 2010)

grace said:


> Well done Dukey.  At least you got some money back on it.  I first invested in GIR some 4 years ago for the uranium, then the iron ore later.  I think I put a good two weeks into studying the deposits as there were just so many.  The Directors went around in the 90's picking up all of the best of the deposits when mining was on the nose.  I never thought they would mine the stuff, just drill it up, spin it off with IPO after IPO.  Sadly, I have made losses on GIR I think on three different transactions.  My timing was always bad with this one.  I will learn from this though - believe in your own research and stick with it.  GIR was one of my first speculative investments sub 30cents back in 2006.  If only.....




Yeah - I watched GIR for quite a while & missed plenty of good buying opportunities being fully invested in various CSG stocks, then finally bought in and down she went!  Have said that some of those CSGers went OK . didn't they !  That sector seems to be having some major hiccups lately though.

wouldn't it be lovely if GIR found another suiter like PES.

Just the same - on first glance AGO looks the goods. The two seem to be a prefect match. Interesting that AGO went down yesterday I think.

this announcement (top one) is worth a look.

http://www.atlasiron.com.au/IRM/content/investor_presentations.html


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## Sean K (22 December 2010)

I actually never thought GIR a takeover purely for it's IO due to all their other deposits and investments. And, I initially looked at it for it's uranium. LOL

Having looked at the combined companies assets, it's a great marriage.


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