GCR - Golden Cross Resources

[exgeo]

From a stockanalysis.com.au report on another mining company with a copper project, Peter Strachan comments that "Firstly it has a low grade, with an insitu value of just A$54/t". Therefore Copper Hill with an in-situ value of around the mid 30's per tonne doesn't look that great. Let's hope the latest drilling can bump the overall grade up a bit.

 

[Sean K]

I've jumped ship. Been holding for yonks for no return. Would earn more money investing in worms. Just my technical opinion.

I actually think the gold is a better play on this. 1.2m oz isn't it? To be extended maybe to 1.5m oz, IMO. Open pit. Near Cadia....Market cap $20m...

There's people over on the NWR thread salivating at potentially 500K at 300 - 600m depth....in the middle of the desert...Market cap $27m...

Hhhm, why did I sell?

 

[exgeo]

I also jumped ship, but not because I was negative on the stock, only because I wanted the money for something else. But in the end it turned out to be a lucky break that I sold when I did. NWR's resource is an order of magnitude higher grade than GCR's, hence the interest. A lot less tonnes would have to be moved and processed to git the gold.

 

[Sean K]

I also jumped ship, but not because I was negative on the stock, only because I wanted the money for something else. But in the end it turned out to be a lucky break that I sold when I did. NWR's resource is an order of magnitude higher grade than GCR's, hence the interest. A lot less tonnes would have to be moved and processed to git the gold.

Doesn't open pit change the dynamics considerably. Moving 1 tn from an open pit must be a little easier than from 1000m? Or is it the processing/milling where the advantages really lay?

 

[exgeo]

Bit of both. Underground mining perhaps costs 4x (I am willing to be correctd on this point!) as much as open pit, but if the grade is 10x higher, it's still a more profitable operation. And then of course you have to crush and otherwise process less rock, so the milling costs are less.

 

[surfingman]

I sold friday as wasnt doing anything lost interest....

 

[Dr Doom]

Resource upgrade/downgrade soon?. Anyone still interested in this one?

 

[Sean K]

For some time GCR have been claiming they were focussing 'all efforts' on Copper Hill and farming out other property, blah, blah.

But, what do you know? They go out a buy a private company that has some land with potential for uranium.

Ho, hum..............

They should have bought a dot com company and got in early before all these other juniors jumping on the U bandwagon go bankrupt as well when the funding all dries up and they have nothing economic to mine.

 

[Uncle Festivus]

For some time GCR have been claiming they were focussing 'all efforts' on Copper Hill and farming out other property, blah, blah.

But, what do you know? They go out a buy a private company that has some land with potential for uranium.

Ho, hum..............

They should have bought a dot com company and got in early before all these other juniors jumping on the U bandwagon go bankrupt as well when the funding all dries up and they have nothing economic to mine.

Well I like it a lot, and so did whoever traded the 24mil shares and 20% price rise. Can't complain about that, unless you had just sold; say it isn't so Kennas.
Look on the bright side, it will probably retrace tomorrow, so you can buy some then?

 

[Robroy]

GCR - The Speculator's buy of the week

GCR (Golden Cross Resources) is the buy of the week in The Speculator column in The Bulletin magazine.

The magazine isn't up on the website yet, however it is hitting the newsstands as I write.

The write-up is highly positive, with The Spec pointing out that the share price is now starting to come good "with a thrust into uranium, gold and nickel in WA and Queensland" thru its purchase of King Eagle Resources.

The WA site alone offers a defined uranium resource of
10.8 millions tons of .14% U3O8. Drilling commences shortly.

The column should go online some time today or tonight at http://bulletin.ninemsn.com.au/david-haselhurst/

Prices have come back off last week's highs tho, which I personally took as a good opp to buy in this morning - tho as always DYOR.

 

[yogi-in-oz]

Hi folks,

GCR ..... several positive cycles coming up in June 2007:

3105-05062007 ... underlying positive tone for GCR

08-11062007 ... 2 significant time cycles in play here,
should put GCR under a positive light.

27-28062007 ... significant and positive time cycle ...
..... finance-related ... ???

11-12072007 ... negative spotlight on GCR.

happy days

paul

P.S. ..... holding GCR

 

[Whiskers]

Who knows what's cooking with GCR now... with all those new prospects and drill ready targets?

Firstly, this is a bold new step for GCR to finally get out of NSW.

Secondly, that's a lot of new prospects to take on all at once without somebody knowing something... isn't it?

Also, what companies are looking at investing in Copper Hill?

 

[Whiskers]

Well, finally some good news about Copper Hill.

GCR’s Managing Director, Kim Stanton-Cook, said today (ASX ann. inter-alia)

"The project has the capacity to deliver a steady stream of copper-in-concentrate for at least ten years at reasonable cost, so the big hurdle for GCR is the estimated capital cost. GCR will consider potential joint venturers requiring a steady supply of clean copper concentrate with gold credits and the financial capacity to fund the project through to start-up.”

Still Curious!

Who's been looking at Copper Hill?

Supposed to be a lot of drilling at Canbelego, the new Rast EL's, Mulga Tank, Panama and Labrador soon. Anyone know how that's going?

 

[moses]

I must have run about 100 stocks through the Neilson SMA over the last couple of nights and GCR is the pick of a pretty ordinary bunch. There has been rising quality in the buying pressure in the after hours depth queue for 3 weeks (black line), and now the number of buys to sells pressure is increasing (blue line). If this continues the SP should rise sharply, especially if the blue line crosses the black line.

Golden Cross is a gold, uranium and base metals explorer holding tenements in the Lachlan Fold Belt, Curnamona Province and Thomson Orogen of New South Wales, the Mount Isa, Georgetown and Bowen regions of Queensland and the Yilgarn Block of Western Australia, and exploration interests in Panama and Labrador, Canada. GCR continues to take its 100%-owned Copper Hill project forward, with further mining and financial studies planned and new exploration prospects identified.

I picked up my parcel this morning. DYOR.

 

[moses]

GCR's buy signal from the Neilson SMA chart just keeps getting better. This time I've included this morning's market depth as an illustration of how the Neilson SMA chart works; notice that the average size (the so called "smart" quality) of buys is much greater than the average size of sells. Most importantly this "smart quality" is consistent all the way down, and not just at the bottom of the queue at a ridiculously low price.

 

[Sean K]

Hoooly doooly, what the flock has happened to GCR!

I haven't looked at this for some time until M's latests posts..

What the?

I'd have to put this in the PSV catagory.

That is, what the hell is going at GCR!!!

Someone call this company because they are looking like administration material.

Hold on, I will call them tomorrow to ask.....ooshhhhh.

 

[moses]

Ann out, GCR up 11% (nothing amazing about that today though). At least it confirms that the Neilson SMA chart is a good indicator of impending news.

Some snippets of a well illustrated 7 page report...

Drilling at Kempfield, NSW has intersected broad zones of silver-lead-zinc mineralisation,
including:
• 50m at 1.70% zinc, 1.25% lead and 28.8 g/t silver, including:
• 12m at 4.81 % zinc, 3.03% lead and 60.2 g/t silver; and
• 80m at 1.09% zinc, 0.36% lead, 16.8 g/t silver and 0.22 g/t gold.
The 50m intersection has an in-ground value of over A$125 per tonne at current metal
prices.


GCR Managing Director, Kim Stanton-Cook, said today
“The Kempfield drilling results are encouraging, and indicate continuity of silver-lead-
zinc-gold mineralisation down dip and along strike in multiple parallel zones. The
recent Kempfield and Sunny Corner drilling provides vectors for follow-up drilling at
depth and along strike. Kempfield Silver Pty Ltd intends to undertake follow-up drilling
at both properties.
The Kempfield property is still at an early stage of exploration. The major barite
bodies, with elevated base metals and silver grades, may indicate proximity to a major
base metals sulphide deposit at depth.”

 

[Whiskers]

Hi kennas

You summed up my sentiments pretty well.

Hoooly doooly, what the flock has happened to GCR!

Someone call this company because they are looking like administration material.

Hold on, I will call them tomorrow to ask.....ooshhhhh.

What did they tell you?

I think they have about $5m in the bank, but with the recent acquisitions and their forcast works program, they will surely need more cash in a few months time.

That's what I find a bit odd. They must be more than confident that one of the next drill programs will hit the jackpot, or a JV with someone for Copper Hill, or they have something up their sleves, otherwise their fundraising is going to be more like a busker hoping to get a few gold coins. :horse:

 

[Whiskers]

Hello moses

I'm l looking for some prophetical wisdom or intuition or something out of this Neilsen SMA.

Ann out, GCR up 11% (nothing amazing about that today though). At least it confirms that the Neilson SMA chart is a good indicator of impending news.

Is that Neilsen indicator still looking like buyers are queing up, or was that bit of news it... have they vanished in disillusionment again?

I'm curious whether it is more valuable than the other typical lagging indicators.

It seems to me that it may strictly be a lagging indicator, but it potentially gives a better forcasting indicaton than the others.

I'm just trying to scrounge a bit more insight before I decide to subscribe.

 

[moses]

Hello moses

I'm l looking for some prophetical wisdom or intuition or something out of this Neilsen SMA.



Is that Neilsen indicator still looking like buyers are queing up, or was that bit of news it... have they vanished in disillusionment again?

I'm curious whether it is more valuable than the other typical lagging indicators.

It seems to me that it may strictly be a lagging indicator, but it potentially gives a better forcasting indicaton than the others.

I'd say SOMETIMES gives a better forcasting indication, and well worth the $500 or so. Don't use it without consulting SP and Volume.

But to GCR...the pressure is still positive but the momentum is falling, which makes me less bullish than I was. The weakest sign is that the blue line trend has stopped; I was hoping it would keep rising through the black.