AFL - AF Legal Group
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Navigator resources looks very much to be in a positive uptrend as long as its holds above 20 cents. Next target 40 cents. The company already has 400,000 oz of gold in WA with more to come and has been recently tipped by the Speculator in the Bulletin. But do your own research before buying. I bought 60,000 the other day and will be buying more.
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I agree with your post on Intermet Resources being an exciting uranium play, but I don't like Navigator Resources as much. It doesn't have as much upside in my opinion.
Navigator Resources is the week's strong buy recommendation from The Speculator (David Haselhurst) in The Bulletin magazine published today.
Haselhurst points to numerous strong pluses including a 700,000 oz resource of mineable gold at Leonora, WA, an inferred resource which has tripled since the ground was bought in 2003. The resource was established to date at $6 p. oz., one-fifth the industry average.
90% of the gold is in shallow, unmined positions.
7-30 km from Leonora there are five idle or underutilised treatment plants.
Feb drilling results include 4m of 20g/t from 40m; 8m of 20g/t from 16m; and 4m of 7.8g/t from 40m. None of these new results are included in the resource yet.
Some of the company's newly-riased cash will be used to drill for uranium at NAV's rare earth uranium prospect in the Kimberley, which The Speculator describes as 'intriguing'.
More interesting to me is the timing of The Speculator's report, with gold apparently botoming and and the ASX hopefully doing so too.
NAV's price was knocked down in the shakedown, and is now an unusually cheap 45c. It would now seem to have little but upside.
Haselhurst points to numerous strong pluses including a 700,000 oz resource of mineable gold at Leonora, WA, an inferred resource which has tripled since the ground was bought in 2003. The resource was established to date at $6 p. oz., one-fifth the industry average.
90% of the gold is in shallow, unmined positions.
7-30 km from Leonora there are five idle or underutilised treatment plants.
Feb drilling results include 4m of 20g/t from 40m; 8m of 20g/t from 16m; and 4m of 7.8g/t from 40m. None of these new results are included in the resource yet.
Some of the company's newly-riased cash will be used to drill for uranium at NAV's rare earth uranium prospect in the Kimberley, which The Speculator describes as 'intriguing'.
More interesting to me is the timing of The Speculator's report, with gold apparently botoming and and the ASX hopefully doing so too.
NAV's price was knocked down in the shakedown, and is now an unusually cheap 45c. It would now seem to have little but upside.
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high grade gold discovery.....newz..
http://www.asx.com.au/asx/research/...panyName=&principalActivity=&industryGroup=NO
http://www.asx.com.au/asx/research/...panyName=&principalActivity=&industryGroup=NO
Well, I wasn't to sure how far this would run and seeing how this is the first time I've ever tried day trading, I took what I could while I was happy. Bought @0.72, sold at 0.82. Now hopefully it doesn't fly over a dollar or something and make me look a fool 
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Very little traffic here. NAV could well be worth a look by Au/U3O8/REO followers. Au at Leonora the main game but 100% Cummins Range REO &U3O8 has big potential. Significantly both Au & REO very shallow deposits with cost-benefits attached....
V.positive drill results released this morning for confirming high-grade rare earth & U3O8 at Cummins Range. Very shallow long intercepts with higher grade zones eg,
24m@4.0% REO from 0m (incl. 4m@10.7%)
16m@5.2% REO from 44m (incl 8m@7.6%) or 56m@2.7%REO
56m@324ppm U3O8 from 44m (incl.8m @1078)
Assays do not as yet include expected additional heavy-metals eg, titanium,niobium, tantalum,zircon.
Jorc initial early 2008. Potential for marketable REO concentrate to accelerate project.
Market conditions today mean that NAV sp gains in response have been dampened...for now at least
Thoughts??
V.positive drill results released this morning for confirming high-grade rare earth & U3O8 at Cummins Range. Very shallow long intercepts with higher grade zones eg,
24m@4.0% REO from 0m (incl. 4m@10.7%)
16m@5.2% REO from 44m (incl 8m@7.6%) or 56m@2.7%REO
56m@324ppm U3O8 from 44m (incl.8m @1078)
Assays do not as yet include expected additional heavy-metals eg, titanium,niobium, tantalum,zircon.
Jorc initial early 2008. Potential for marketable REO concentrate to accelerate project.
Market conditions today mean that NAV sp gains in response have been dampened...for now at least
Thoughts??
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The good news keeps rolling in....New Ann out! Gold at Leonora.....new hits. On top of yesterday's REO/U good news. Something bound to spark the sp sooner or later...
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Here is my take on NAV.
2 main projects
Gold - I will be happy to put a generous 40M on it. Bear in mind that at this stage it is less than 1Moz and the grade is 2.2g/t, not all that exciting.
RE would have to be the bulk of the pie. Reading from the latest anns, and looking at the cross section (Section 307150E), looking west, the area bounded by 1% RE or above, is around 12 x 25 x 25 = 7500m2. Looking at a top down view, we can see the horizontal section is around 150m. So the very rough volume bounded by this high RE zone is around 7500 x 150 = 1.125 million m3. I will be generous and make it 1.5 million m3, give that it could be open to the north west, and north east.
What that gives us is around 3.75MT, using a density of 2.5. We can see from the top down view that most of the grades are less than 2%, but let's just make it 2%. that gives 3.75MT @ 2% RE, which is around 75,000 tons of contained RE. Quite consistent with the non JORC compliant resource estimate that they have.
Now, let's look at a company in a more advanced stage, namely LYC. LYC has 7.7mt @ 11.9% RE, around 917,000 tons. Someone asked a question regarding composition of ore at NAV's cummings range to LYC's and TOM said they are directly comparable.
So in summary, after taking gold and cash out, NAV has a market cap of more than 80 million at today's sp. LYC's market cap is 682M. LYC has more than 10 times the resource, and is in a much advanced stage (I think they have supply contracts signed and plant secured in Malaysia). Given this, I really think the market cap of NAV, less gold and cash should be less than 10% of that of LYC, but isn't the case. I know that I did not take any Uranium into consideration, but being the conservative person I am, and cummings range located in WA, I do not want to factor that in.
Tom said market 'has not digested' the news on RE. I can't say that I agree. NAV is the most interesting company that presented on AMEC today. I will be waiting patiently for a much more reasonable sp to enter.
2 main projects
Gold - I will be happy to put a generous 40M on it. Bear in mind that at this stage it is less than 1Moz and the grade is 2.2g/t, not all that exciting.
RE would have to be the bulk of the pie. Reading from the latest anns, and looking at the cross section (Section 307150E), looking west, the area bounded by 1% RE or above, is around 12 x 25 x 25 = 7500m2. Looking at a top down view, we can see the horizontal section is around 150m. So the very rough volume bounded by this high RE zone is around 7500 x 150 = 1.125 million m3. I will be generous and make it 1.5 million m3, give that it could be open to the north west, and north east.
What that gives us is around 3.75MT, using a density of 2.5. We can see from the top down view that most of the grades are less than 2%, but let's just make it 2%. that gives 3.75MT @ 2% RE, which is around 75,000 tons of contained RE. Quite consistent with the non JORC compliant resource estimate that they have.
Now, let's look at a company in a more advanced stage, namely LYC. LYC has 7.7mt @ 11.9% RE, around 917,000 tons. Someone asked a question regarding composition of ore at NAV's cummings range to LYC's and TOM said they are directly comparable.
So in summary, after taking gold and cash out, NAV has a market cap of more than 80 million at today's sp. LYC's market cap is 682M. LYC has more than 10 times the resource, and is in a much advanced stage (I think they have supply contracts signed and plant secured in Malaysia). Given this, I really think the market cap of NAV, less gold and cash should be less than 10% of that of LYC, but isn't the case. I know that I did not take any Uranium into consideration, but being the conservative person I am, and cummings range located in WA, I do not want to factor that in.
Tom said market 'has not digested' the news on RE. I can't say that I agree. NAV is the most interesting company that presented on AMEC today. I will be waiting patiently for a much more reasonable sp to enter.
I have a few dates coming up in my diary for NAV. New updated resource for gold due Jan/Early Feb. Initial JORC on REO due Feb 08. Gold resource should go over the million oz this time. Anyone still holding? Should be some good news in over the next couple of weeks.
pitiful JORC figure announced today for NAV...
the question is... has it got much more??
Looks like leaving LYC and ARU holding the only viable Rare Earths fort in australia
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Well my estimate is pretty close this time :. Regarding viability though, I vaguely remember reading LYC's presentation in which they said that viable REO deposits need to have low uranium content . Can anyone shed some light?
:. Regarding viability though, I vaguely remember reading LYC's presentation in which they said that viable REO deposits need to have low uranium content . Can anyone shed some light?Well my estimate is pretty close this time
Pretty close!! Damn near spot on lazyfish - nice work. If you can do that for a few other explorers who are firming up JORCs that would be great
give us a chance to make some more informed trades prior to their actual releaseBoard room radio interview. I guess the initial jorc is only over a small area of the whole deposit so hopefully more resource to come. Heavy minerals still to be quantified zircon etc. 1 x metre splits to come through soon. Phosphate there as well at 11.2% (spot price at least $200/tonne). This will add viability to the project. (phospate hill mine at 23% from memory, and that's all they mine is phosphate). I thought the deposit needed low thorium.....could be wrong though.
Assay results should be out soon for recent drilling at Leonora. The 1 million oz will come. I think everyone (like me) was expected it this time. Got close though.
http://www.brr.com.au/event/43367
Assay results should be out soon for recent drilling at Leonora. The 1 million oz will come. I think everyone (like me) was expected it this time. Got close though.
http://www.brr.com.au/event/43367
