EXG - Excelsior Gold

Excelsior Gold (EXG) was formerly known as Atom Energy (AXY).

For previous discussion of this company please see the AXY thread, which can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=6968

Big dog

This has been smashed for years. I got burnt after jumping in from advise given by Montagu. In 55c out 11c - never any good news.

What do you think about re-entry on todays price (3.8c)

Cant go any worse...or can it?!

MC - $42m
SP - 11.5c
Shares - 366m
Options - NQ
Cash - $7.7m

Kalgoorlie North Gold Project Resource Upgrade
Highlights:
 Zoroastrian resources increases by 79,500oz Au to 2.24 million tonnes @ 2.9g/t Au for 209,000ozs
 First pass mine optimisation at Zoroastrian favours large open pit mine development and a 500% increase in potential open pit resources ounces from 28,500ozs to 174,500ozs
 Big Blow South resource increases ounces by 166% to 124,000 tonnes @ 5.48g/t Au for 21,800ozs
 Jackorite resource classification upgrade to 82% indicated.
 Parkerville maiden resource of 149,000 tonnes @ 1.73g/t Au for 8,300ozs
 Total Kalgoorlie North Gold Project resources increased to 16.7 million tonnes @ 1.61g/t Au for 868,500ozs
 Reverse circulation and diamond drilling re-commences at Zoroastrian to increase and improve resource status.
 Pre-feasibility study scope extended to assess economic potential of stand alone processing plant.

June Quarterly Activities
Kalgoorlie North Gold Project

Zoroastrian Deposit
 Conceptual mining study on Zoroastrian gold resources supports
o Underground mine development potential of the high grade resource
o Open pit development potential of near surface resources
 Surface reverse circulation drilling results confirm high grade gold potential of Zoroastrian Deposit
o 3m @ 36.0g/t Au from 118m (KNC120048)
o 11m @ 7.43g/t Au from 37m (KNC120058)
o 8m @ 8.89g/t Au from 149m (KNC120047)
o 13m @ 5.24g/t Au from 56m (KNC120022)
 New style of gold mineralisation intersected on dolerite contact
o 15m @ 3.49g/t Au from 193m (KNC120116)
 Gold mineralisation remains open to south and at depth – potential for extension of resources.

New Resource Development Areas
 Initial reverse circulation drilling on newly tested prospects intersected broad zones of gold mineralisation.
o Big Blow South 7m @ 7.97g/t Au from 129m (KNC120031)
o El Dorado 27m @ 3.89g/t Au from 39m (KNC120026)
o Nerrin Nerrin 10m @ 2.21g/t Au from 41m (KNC120029)
o Jackorite 7m @ 10.5g/t Au from 7m (KNC120132)


Northern Territory Projects
The Company’s focus on gold exploration and mine development activities on the Kalgoorlie North Gold Project has resulted in a reduction in exposure to uranium exploration projects. The Company retains an interest in only one remaining uranium property.
ALLAMBI PROJECT (EXG 100% - FARM IN AND JOINT VENTURE)
The Allambi tenement (EL25347) covers 702km² located 72 kilometres south-east of Alice Springs. Exploration on the area is targeting sandstone style uranium mineralisation within Amadeus Basin sediments similar to the Pamela and Angela uranium deposits located 40 kilometres to the north-west.
On 12 June 2011, the Company finalised a Farm In and Joint Venture Agreement with Parker Resources NL on the Allambi tenement. Under the terms of the Agreement, Parker Resources is entitled to earn up to 70% interest in EL25347 by sole funding $400,000 of exploration expenditure within three years.

This is a great thread indeed EXG
first posting was in 2010 and next one was in 2012 and for four years none.
Here you go - 2016 .
I am puzzled at the objective of such share placement through prospectus.
Cost of share raised is only $50.
1000 shares to be issued.
http://www.asx.com.au/asxpdf/20160826/pdf/439pkhfdvzl8x5.pdf
To support this share issue, ASIC will charge $2350 and legal fee $1000.
If this is not stupid exercise what else could be or this is another legal way to keep the company alive.
Obviously ASIC is taking a big chunk of money towards fee and every thing is there above board.
What about the share holders ?? Would they support an expense of $3350 cash only plus other administrative /marketing cost for the same of $1000 ?
Probably no one will read this thread, so Joe you may take the initiative to write a response to make people like me to understand

regards

On October 5th, 2018, Excelsior Gold Limited (EXG) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between EXG and its shareholders in connection with the acquisition of all the issued capital in EXG by Spitfire Materials Limited.