EXM - Excalibur Mining Corporation

[mick2006]

However if you are investing, rather than trading announcements, remember this will be the first drilling of many. EXM have 15,000 sm of tenenments in Tanami and cash/rigs to drill it!

This is why EXM is such a good tradeable/investable stock, short term the first set of results from Tennant Creek will be the focus, if they are good EXM will run, but as Bushman has highlighted this is only the first 3000m of 15000m, so its not just a one off announcement it is likely to be around 5 over the course of two months.

The number of market sensitive announcements will keep EXM in investors/traders minds meaning volume won't die for too long.

It's hard not to focus on the first set of results, but if these are good it may set EXM alight much like companies such as RMS,KAL,PRE etc (remember its important to assess your own risk/reward profiles before investing in companies like EXM because they usually go very well or very ordinary there is usually no in between)

 

[kevinecom]

Too much expectation on this one, I concern we might end up like MDX.

I still can't decide whether to accumulate more on heads or oopies.

 

[mick2006]

for those who want to see why EXM holders are so excited about the upcoming Tennant Creek gold drilling results have a look at page 15 of the company's AGM presentation the historical drill results are just incredible, and remember a portion of the drilling campaign is set aside to confirm these historical results, can you just imagine the effect on the share price if they even go close to some of those results.


link to AGM 2007 presentation

http://www.excaliburmining.com.au/IRM/Company/ShowPage.aspx?CPID=1103&PageName=AGM Presentation - November 2007


On top of the Juno prospect EXM have at least 3 other prospects that have all had drilling results of greater than 20g/t au which are also part of this current exploration campaign.

With the company likely to release the results of the 15000 metre exploration campaign over the next 2 months, EXM is likely to become one of the traders favourites.

Not many companies in the spec gold sector can go close to the possible bonaza grades that EXM has the potential to deliver, and the best part we only have just over a week to see whether EXM can come up with the goods.

 

[Bushman]

Lets hope they find another 12000 g/t drill hits Mick. Correct me if I am wrong but that is 1.2kg of gold per tonne. That is a gold nugget not a drill sample.

Tanami looks good to with walk up targets of 119 g/t.

 

[mick2006]

nothing is certain in the exploration game, but they have the right location, they have gone about it the right way, spending 9 months reviewing all historical data to plan this exploration campaign, now I guess its down to the mining exploration gods.

 

[mick2006]

interesting game of cat and mouse developing for EXM at the moment has traded in a tight range on low volume for all of this week, you get the feeling that if there was a couple of decent whacks into the resistance it might pick up some momentum heading into the anticipated Tennant Creek results.

looks like some buyers are already starting to move up the line, feeling that they mightn't get there fill now below the 4c mark.

this is one any trader will have on their watchlist as any signs of a pickup in volume they will be all over it, in case it runs hard into the Tennant Creek results.

 

[OBK]

significant vol in the last hour
all the sellers at 0.041 gone

maybe the run has started early? Maybe a leak? Who knows!

 

[Sean K]

significant vol in the last hour
all the sellers at 0.041 gone

maybe the run has started early? Maybe a leak? Who knows!

Has had numerous false starts, I'm quite happy with the break through 3.8, but from here, who knows? I thought 6 as a breakout price target, but this one wants to go in fits and starts. Might need some 000 grades to really take off.

 

[Jockstar73]

was just about to post the same point..... this is now 4.3 cents with a 4mil chomp... there is alot of chatter about EXM on HC so it could be a traders deam in the next few days. We are still waiting on the drilling results in a few weeks, bit as stated, maybe the run up has started and everyone that has this i their watchlist through that they had a little longer to jump in....

 

[zt3000]

4.6 close... was that a late rally or what!

i picked some up at 4.3 at the end .. been watching for a while waiting waiting and then i thought i almost missed it ... haha

i'll probably hold to results now ...

2Moz would be nice right about now

 

[Jockstar73]

Yeah I think I will hold as well... I think I was lucky... was the last buy @ 4 cents and then Zooooooooommmmmmm........ should be a strong open tomorrow.. the news will filter through and everyone will be on it.

 

[mick2006]

wow what an explosive finish to today's trading, looks like the run has started to the tennant creek results, what a crazy day

first 3.5 hours trade 3 million volume
last 2.5 hours trade 65 million volume

I don't anyone could have predicted the surge in interest this afternoon, with such a strong volume finish if the US markets hold up tonight we may make an assault on the 5c mark tomorrow some time.

 

[nowork]

wow what an explosive finish to today's trading, looks like the run has started to the tennant creek results, what a crazy day

first 3.5 hours trade 3 million volume
last 2.5 hours trade 65 million volume

I don't anyone could have predicted the surge in interest this afternoon, with such a strong volume finish if the US markets hold up tonight we may make an assault on the 5c mark tomorrow some time.

Yeah that was pretty interesting.

Wonder if it will take the 5 mark so close to the results or if there will be some profit taking.

 

[adobee]

Thank gosh i have been holding my 4cent entry from a few weeks ago when it retraced straight away ...

Lets hope US remains strong tonight .. (I am locking this away long term but still would like to see it clear 5c sooner than later)..

 

[Jockstar73]

pulled this from the "Other" site....

Excalibur draws on history

Thursday, December 06, 2007

LIKE King Arthur drew the sword from the stone, so Excalibur Mining has unsheathed old data from its Tennant Creek project in its quest to release more gold. By Mark Mentiplay - RESOURCESTOCKS*

Excalibur Mining believes a year extensively re-examining 30 years of exploration data at its Tennant Creek gold project in the central Northern Territory may provide the key to releasing another 2 million ounces.

The company has launched a 15,000-metre drilling program that is targeting a significant gold resource upgrade of potentially 2 million ounces among the remnants of two major Tennant Creek mines and outlying deposits that have already produced that much.

The company's geological team, which includes three senior geologists, expects to have a new resource estimate completed at the end of the drilling program that will hopefully add significantly to the current JORC-compliant indicated and inferred 2.3 million tonnes at 7.12 grams per tonne gold for 532,244 ounces of contained gold.

Excalibur has also recently acquired the gold and precious metal rights to a prime 12,000-square kilometre tenement package, including an extensive Newmont Mining database, in the Territory's 11 million ounce Tanami and Marla regions. The company has already received several farm-in approaches.

However, Excalibur Managing Director and well-known former Perth stockbroker Alex Bajada told Tennant Creek is the company's prime focus.

The company's prospects there include the famous Noble's Nob and Juno gold mines.

Noble's Nob, one of the largest open-cut gold mines in Australia in its day, produced 1.12Moz from 1939-1996, while Juno yielded some 840,000oz when run by Peko between 1967-1977 and had an average grade of 57gpt.

Historic underground diamond drilling at Juno � a priority target for Excalibur � has returned massive grades, including 1.53m at 12,883gpt from 16.7m within a wider intercept of 670gpt over 32m from 12.5m. Other noteworthy historical hits included 6.7m at 833.6gpt from 24.4m and 36m at 210gpt from 19.5m.

The new program includes 10,000m of reverse circulation and 5000m of diamond drilling to test 12 targets thrown up by the past year's research and re-evaluation of 30 years of exploration data.

"The results are very exciting and this drilling program represents the most significant attempt to further explore one of the richest gold producing areas in Australian history," Bajada said.

"The drilling will be in historically high-grade regions to infill gaps in existing drilling and look more closely at some areas we believe were missed.

"We think we've got potential for about two million ounces."

Bajada acknowledged the current program is a long way from proving up that sort of asset.
He expects it will take several months and be followed soon after by a new resource estimate.

"We plan to drill the hell out of this place over the next 12 to 18 months to better define the resources and I'd be pretty disappointed if we didn't get up to the two million ounce level. We have the real expectation that this is a world class asset," he said.

The RC drill rig is on its way to site, with the diamond rig expected onsite soon. The company is negotiating for a third rig to accelerate the drilling program.

Initial targets include high-grade multiple pods at Juno and Noble's Nob, and nearby satellite deposits such as Rising Sun and M10; any of which could produce early cash flow.

Juno contains the most ounces of the three resources currently defined with a JORC-compliant indicated resource of 321,400oz from 952,000 tonnes at 10.5gpt, followed by M10 with a JORC-compliant inferred resource of 1.2 million tonnes at 5gpt for 193,000oz and 18,000oz at Noble's Nob's with a JORC-compliant inferred resource of 174,000t at 3.2gpt.

The Juno deposit is a steeply plunging pipe of gold mineralisation with some spectacularly high gold grades. Previous drilling encountered high-grade mineralisation on the south side of the east-west orientated stopes and the area will be a prime new drilling target.

M10 lies underneath Juno and was intersected by previous diamond drilling from the underground workings. This will be further drilled to confirm and infill previous intersections, expand the resource and investigate a possible link to nearby Juno West.

Noble's Nob was worked by underground methods and later as an openpit down to 100m.

Bajada said there is geophysical target down plunge to the east of Noble's Nob that has received little or no drilling in the past and will be diamond drilled in the current program.

There are also excellent new targets a few hundred metres east and west of the openpit.

Excalibur's Tennant Creek project is conveniently close to infrastructure being near the Alice Springs-Darwin rail line, about 8km from the Tennant Creek township and within a power grid laid down for past operations. The company also has a large workshop, office and core storage facilities in Tennant Creek.

Excalibur is also carrying out an extensive electromagnetic survey over the Brown's Range South area within its recently acquired Tanami project in the Northern Territory, west of Tennant Creek.

This work will be completed in conjunction with Palace Resources, which holds the uranium rights.

There has been scant exploration in these regions and limited drilling, so the results of the electromagnetic work and evaluation of the Newmont data, including surface samples grading up to 119gpt, will identify targets expected to be drilled soon.

Bajada said the recent opportunity to take a strategic stake in the Tanami region where more than 11Moz of gold has been discovered in mines such as Callie, Tanami, The Granites and Dead Bullock Soak by the likes of Newmont, Falconbridge, BHP Billiton and Anglo American, was too good an opportunity to miss.

The company is evaluating several farm-in approaches on the ground and the early money is on some sort of joint venture.

Excalibur has also identified targets on its 700sq.km Yilgarn uranium project where it is looking for large, low grade, near surface deposits. The acquisition is still subject to shareholder approval.
"These two projects, particularly Tanami-Marla, give us a range of exploration and development options in this market," Bajada said.

"Single project companies are hard to rationalise, but the focus is on Tennant Creek."

The company has $3.5 million in the bank, which is more than enough to cover drilling over the next 18 months, but is considering a further cash raising, possibly around $7 million, shortly.

* This report, first published in the November 2007 edition of RESOURCESTOCKS magazine, was commissioned by Excalibur Mining

 

[mick2006]

what a great article pretty much sums up why EXM has so much upside potential.

will be very interesting watching what happens tomorrow morning.

 

[OBK]

mind you mick, the report was commissioned by EXM, so it's not exactly a objective article.

That said, the company is a very tantalising prospect
i was thinking of topping up at 3.9c but it's got wayyy past that

 

[wildmanchris]

what a great article pretty much sums up why EXM has so much upside potential.

will be very interesting watching what happens tomorrow morning.

I was thinking the same thing Mick - mind you some MD's with speccies manage the PR side of things really well and get the name of the company out there. I guess you have to plug your product if you believe in it!

 

[catman]

mind you mick, the report was commissioned by EXM, so it's not exactly a objective article.

That said, the company is a very tantalising prospect
i was thinking of topping up at 3.9c but it's got wayyy past that

guys been on exm for about 3 weeks now shortly after our first run have accum in the mid to low 3's (1 mill) am holding for the results.

god speed to all of us over the coming weeks

 

[Kremmen]

Another good sign is that the options have picked up even more than the shares. Sellers just aren't selling them much any more, so buyers are having to pay more.