ANL - Amani Gold
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Looks to have now confirmed floor support at 20c
Sighhh I could have bought about 40% more at these levels, oh well
Sighhh I could have bought about 40% more at these levels, oh well
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YOUNG_TRADER said:
Mmmm yep have to agree YT... hard looking at such a big loss! One of the very few falling stocks I've held during the recent correction. Looks like it might be forming an ascending triangle though, so looking positive IMO if it breaks .23
Finally, the announcement we've been waiting for. 1 option for every 2 at 1c is definitely an offer I'll be taking up. Hopefully, BYR will have a good day tomorrow.
DYOR
Kauri
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Did I read that they were non-renouncable...june 2009??? That would really make them live up to the title of loyalty options
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GTRADER I think Kauri is having a joke,
Of course they can be exercised at any time at 20c,
Of more importance is the following up drilling at Masounia,
And of even more importance is the Uranium portfolio they will be acquiring
Of course they can be exercised at any time at 20c,
Of more importance is the following up drilling at Masounia,
And of even more importance is the Uranium portfolio they will be acquiring
Kauri
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Of course they can be exercised at any time, but that is not what non-renouncable is about.
I'm pretty sure non-renounceable means that after the ex date you are unable to sell the right to buy the options. So you either buy the options for one cent, or you don't and the underwriter (if there is one) buys the rest.
An example of an entitlement that was renounceable was ROC's capital raising last year. Shareholders were offered the right to buy shares at a price well below market price but if they didn't want to buy them they could sell them on market and pocket the proceeds.
An example of an entitlement that was renounceable was ROC's capital raising last year. Shareholders were offered the right to buy shares at a price well below market price but if they didn't want to buy them they could sell them on market and pocket the proceeds.
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I'd say more than 75% of the issues I have seen are NON-RENOUNCEABLE
So its nothing unusual, then again BYR's announcement wasn't in Bright Pink has me a little stunned
So its nothing unusual, then again BYR's announcement wasn't in Bright Pink has me a little stunned
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Its easy to lose sight of the fundamentals with the lack of interest, so I thought I'd remind everyone about BYR's fundamentals
Mkt Structure
Shares
45m shares of which only 25m are listed
17.5m shares to be given to KAL for Uranium
22.5m 20c 30/6/09 Opies not yet listed
Cash
$4.5m in the bank + $4.5m if all opies exercised (must assume if including opies in fully dilluted mkt cap)
Mkt Cap
20c = $17m (With $9m in cash) Current
30c = $25.5m
40c = $34m (With $9m in cash) Target
Gold Projects
Mansounia earning up to 92%, Gold, Guinea West Africa
This project had excellent fundamentals, with more folluw up drilling to firm up the project in May.
Top Section Only
2000m Long x 600m Wide x 15m Deep = 18M cubic metres ore,
As we have assumed 1 Cubic Metre Ore Containg Gold = 2T's ore
So 18M x 2 = 36Mt's at avg grade 0.8g/t Au (I think thats safe to say)
36Mt's@ 0.8 g/tAu = 28.8M Grams Gold and since 28grams = 1oz = 1moz's Au
So
36Mt's@ 0.8 g/tAu = 1moz's Au
Spot $800 AUD, Cash Cost $650 AUD, Thus Cash margin $150 oz
NPV = $150m - $10m (start up costs) = $140m
@ 70% (can go as high as 85%) = $98m
With current 45m shares on issue = $2 a share
The big differential for Mansounia is the existing mining and milling infrastructure less than 2kms to the North, combined with near surface mineralization = Very Low Cap Ex
As well as a Town about 3km’s to the East!
The area is host to numerous large low grade operations so I would not be surprised if this deposit although low garde turned out to be huge ie 100Mt@1g/t = Over 3Moz's Au
The company is well funded and can earn up to 92% in this project and as I've stated would not need copious amounts of capital to bring project on stream as it can Toll Treat with the TSX company.
As can be seen the mineralisation is at or near surface so an open pit will be the way to go, with a simple hauling of the ore 2kms to the exisiting infrastructure of the Keniero (Jean-Gobele) Mine owned by Toronto listed company, Semafo Inc with reported combined resources and reserves of 1.09Moz, the plant-site of which s located less than 2km north of the Mansounia Project boundary."
URANIUM PROJECTS For further INFO see http://www.bureygold.com.au/ and KAL's announcements
The company has signed an agreement to purchase ALL of KAL's (Kalgoorlie Boulder) Uranium Interests which are very extensive, the cost of the transaction will be 17.5m BYR shares but it will be well worth it given the projects.
For more information see KAL, KAL's reports show the Uranium grounds, require a bit of digging to find all the info I have especially re Lyndon
Kintyre 50:50 JV with MEGA Uranium, W.A.
5 Licences, JV was with RPT who is now part of Mega, Mega funding exploration
Lyndon 100%, Uranium, W.A.There are 5 targeted deposits, 1 of which after a small amount of follow up work had an estimated 700kt's@0.058%U = 770k lb's U (Pre JORC Code)
Theres still 4 more to test!
I can't wait for follow up work on the Lyndon Uranium project, if the other 4 target deposits turn out like the 1st it could be 3Mt@0.058% Uranium = 3M lb's U as opposed to current 770k lb's u
Even current 770k lb's U
@ $15/lb EV = $11m
Upside 3M lb's U
@ $15/lb EV = $45m
Gascoyne 100% Uranium, W.A.
10 Licences covering 1321 km²
South Australia 100% Uranium, S.A.
8 Licences now, 2 appear very prospective, Prospect Hill is near the MTN Mt Gee/AGS Beverly area
and Olary is near GIR and PNN's projects which have U ranium mineralisation on them
Summary
With a very promissing gold project comparable to GRY
Multiple Aust Uranium Projects (still to be finalised) that appear highly prospective, Lyndon and Kintyre in particular,
A very small mkt cap (still under $12m) and a very tight share registry with only 25m shares listed, of which the top 20 hold 75% or so
$4.5m cash in the bank
The current option issue
ITS ONLY A MATTER OF TIME BEFORE BYR IS RE-RATED
BYR
Mkt Structure
Shares
45m shares of which only 25m are listed
17.5m shares to be given to KAL for Uranium
22.5m 20c 30/6/09 Opies not yet listed
Cash
$4.5m in the bank + $4.5m if all opies exercised (must assume if including opies in fully dilluted mkt cap)
Mkt Cap
20c = $17m (With $9m in cash) Current
30c = $25.5m
40c = $34m (With $9m in cash) Target
Gold Projects
Mansounia earning up to 92%, Gold, Guinea West Africa
This project had excellent fundamentals, with more folluw up drilling to firm up the project in May.
Top Section Only
2000m Long x 600m Wide x 15m Deep = 18M cubic metres ore,
As we have assumed 1 Cubic Metre Ore Containg Gold = 2T's ore
So 18M x 2 = 36Mt's at avg grade 0.8g/t Au (I think thats safe to say)
36Mt's@ 0.8 g/tAu = 28.8M Grams Gold and since 28grams = 1oz = 1moz's Au
So
36Mt's@ 0.8 g/tAu = 1moz's Au
Spot $800 AUD, Cash Cost $650 AUD, Thus Cash margin $150 oz
NPV = $150m - $10m (start up costs) = $140m
@ 70% (can go as high as 85%) = $98m
With current 45m shares on issue = $2 a share
The big differential for Mansounia is the existing mining and milling infrastructure less than 2kms to the North, combined with near surface mineralization = Very Low Cap Ex
As well as a Town about 3km’s to the East!
The area is host to numerous large low grade operations so I would not be surprised if this deposit although low garde turned out to be huge ie 100Mt@1g/t = Over 3Moz's Au
The company is well funded and can earn up to 92% in this project and as I've stated would not need copious amounts of capital to bring project on stream as it can Toll Treat with the TSX company.
As can be seen the mineralisation is at or near surface so an open pit will be the way to go, with a simple hauling of the ore 2kms to the exisiting infrastructure of the Keniero (Jean-Gobele) Mine owned by Toronto listed company, Semafo Inc with reported combined resources and reserves of 1.09Moz, the plant-site of which s located less than 2km north of the Mansounia Project boundary."
URANIUM PROJECTS For further INFO see http://www.bureygold.com.au/ and KAL's announcements
The company has signed an agreement to purchase ALL of KAL's (Kalgoorlie Boulder) Uranium Interests which are very extensive, the cost of the transaction will be 17.5m BYR shares but it will be well worth it given the projects.
For more information see KAL, KAL's reports show the Uranium grounds, require a bit of digging to find all the info I have especially re Lyndon
Kintyre 50:50 JV with MEGA Uranium, W.A.
5 Licences, JV was with RPT who is now part of Mega, Mega funding exploration
Lyndon 100%, Uranium, W.A.There are 5 targeted deposits, 1 of which after a small amount of follow up work had an estimated 700kt's@0.058%U = 770k lb's U (Pre JORC Code)
Theres still 4 more to test!
I can't wait for follow up work on the Lyndon Uranium project, if the other 4 target deposits turn out like the 1st it could be 3Mt@0.058% Uranium = 3M lb's U as opposed to current 770k lb's u
Even current 770k lb's U
@ $15/lb EV = $11m
Upside 3M lb's U
@ $15/lb EV = $45m
Gascoyne 100% Uranium, W.A.
10 Licences covering 1321 km²
South Australia 100% Uranium, S.A.
8 Licences now, 2 appear very prospective, Prospect Hill is near the MTN Mt Gee/AGS Beverly area
and Olary is near GIR and PNN's projects which have U ranium mineralisation on them
Summary
With a very promissing gold project comparable to GRY
Multiple Aust Uranium Projects (still to be finalised) that appear highly prospective, Lyndon and Kintyre in particular,
A very small mkt cap (still under $12m) and a very tight share registry with only 25m shares listed, of which the top 20 hold 75% or so
$4.5m cash in the bank
The current option issue
ITS ONLY A MATTER OF TIME BEFORE BYR IS RE-RATED
