GRY - Gryphon Minerals

[swm79]

Hey kennas, she might have broken through yesterday, along with the rest of the ASX. Went as high as 37c before dropping back to 36c. For this to be a breakout need it to hold above and then make 35c as support. Chau!

nice one kennas... is that the ancient sound of one user posting?

sounds a bit echo'y in here - no ones here

 

[Sean K]

nice one kennas... is that the ancient sound of one user posting?

sounds a bit echo'y in here - no ones here

lol

Yes, I've obviously got too much time on my hands. All I do is read company reports and put red and blue lines on charts.

Maybe I'll get a real job one day. Hm, maybe not.

Orders aren't really lining up this morning, so the breakout looks suspect.

They need some more good results out quick smart! Or POG to run throiugh $1050...

 

[swm79]

lol

Yes, I've obviously got too much time on my hands. All I do is read company reports and put red and blue lines on charts.

Maybe I'll get a real job one day. Hm, maybe not.

Orders aren't really lining up this morning, so the breakout looks suspect.

They need some more good results out quick smart! Or POG to run throiugh $1050...

lol red and blue lines on charts.

happy reading - all i do is put those ridiculous reports together

i'm surprised POg has stayed so high actually... with all the people jumping ships to get on the rally (all beit probably too late)... but plenty of volume still around for it

 

[munga]

lol

Yes, I've obviously got too much time on my hands. All I do is read company reports and put red and blue lines on charts.

Maybe I'll get a real job one day. Hm, maybe not.

Orders aren't really lining up this morning, so the breakout looks suspect.

They need some more good results out quick smart! Or POG to run throiugh $1050...

kennas
question from newby/oldie (age)
u seem to post to a lot of my portfolio stocks
eg: gry, bmn, sdl,
how do u get info on stocks to tech anal watch?
i use info from a couple of brokerage firms .

would appreciate any advive

 

[Sean K]

kennas
question from newby/oldie (age)
u seem to post to a lot of my portfolio stocks
eg: gry, bmn, sdl,
how do u get info on stocks to tech anal watch?
i use info from a couple of brokerage firms .

would appreciate any advive

I initially find stocks just by monitoring all the announcements from the ASX on a daily basis. I'll scan just about every price sensitive one anyway. Then if it looks interesting, go back through their other anns, quarterlies and presentations, and go to their company website and look through it, then start looking at their chart. I keep a pretty long watchlist of the stocks I want to follow. All starts from the announcements really. Plus, stocks identified here on ASF.

 

[Sean K]

GRY is running ahead of itself I think.

Or, people are just taking a punt.

Good luck.

 

[Sean K]

OK drill results, but not exciting me toooo much.

Most intersections are just 1-4m.

Would like to see 100m@10g/t please.

But, continues the good drilling success.

I would like to post up a good picture of the location of the drilling results but I am restricted to a laptop at the minute. So, go to the ann for details.

Looks like the SW zone will increase the JORC significantly.

Due in the 'coming weeks'.

I hope it's not factored in too much, but I think over 1m oz is. At least .........

Further Excellent Drill Results include:

18m @ 3.72g/t,
19m @ 2.43g/t,
5m @ 5.20g/t Gold

Banfora Gold Project, Burkina Faso

Highlights
 Drill results continue to intersect significant widths with high grade gold
mineralisation at the Nogbele Gold Deposit (Refer to tables and maps).
 Results continue to confirm additional gold mineralisation outside of the
current defined resource estimate.
 Ongoing drilling will continue to target shallow high grade gold mineralization
on multiple targets at the Banfora Gold Project.
 A new resource upgrade is expected in the coming weeks.

 

[Sean K]

I've got no idea what the next resource upgrade could bring but the market is factoring in quite a lot.

Currenty trading at about $67 an ounce (EV to resource) is double some of the other explorers about in W Africa.

So, we could probably assume the market expects well over 1m oz au eventually.

Currently failing to breach 40c which has been well rejected the past few days.

Gold running at the moment, and potential to break to the upside through the giant triangle it's trading in.

What an awesome opportunity that was down at 6c earlier in the year.

 

[munga]

I've got no idea what the next resource upgrade could bring but the market is factoring in quite a lot.

Currenty trading at about $67 an ounce (EV to resource) is double some of the other explorers about in W Africa.

So, we could probably assume the market expects well over 1m oz au eventually.

Currently failing to breach 40c which has been well rejected the past few days.

Gold running at the moment, and potential to break to the upside through the giant triangle it's trading in.

What an awesome opportunity that was down at 6c earlier in the year.

whats your trading ideas on this one kennas wat sell price
longterm price, hold/sell etc im confused as to take profits and watch
or take a long position

 

[Sean K]

whats your trading ideas on this one kennas wat sell price
longterm price, hold/sell etc im confused as to take profits and watch
or take a long position

With 'investments' which this is for me, I normally have a policy of selling half once a stock has gone up 50% ish, but that's a way off for me. I'm just adding on dips at the moment. As I said above it's EV to MC is quite high, so I wouldn't expect any huge gains from here unless they discover something larger close to the main resource, or some very exceptional grades. As an example LGL and NCM trade around $100 an ounce, and they are established producers, so GRY sitting at $67 ish is pretty high. So, depends on the results really. Will be subject to general market weakness also so if there's a major correction, (overdue, imo) then this could find it's way well back depending on the severity of any market fall, or gold collapse. POG looks like it might be running higher at the minute, so we'll see.

 

[munga]

cheers for that
have set generous stops at the moment
been some really strong buying from support
but even stonger selling from resistence
wait and see

 

[Sean K]

LGL has come out with some statements that they will be looking at M&A in West Africa which is due for some consolidation. Two potentials are PRU and maybe even GRY. I'm not sure if GRY fits the profile well enough as they're after advanced exploration with potential for 200k oz pa output. That certainly fits the PRU profile, but if GRY can shore up some more resources quickly they're probably in the frame as well. They have some good nearology with the old EQI tenaments also, as seen on these maps from GRY and LGL.

 

[Sean K]

Another ann out this morning.


ASX Announcement and Media Release
Thursday, 10th September 2009

High Grade Drill Results include 6m @ 19.2g/t & 4m @ 38.0g/t Gold, Banfora Gold Project, Burkina Faso

Highlights
 Drilling continues to intersect high grade gold mineralisation at the Nogbele
Gold Deposit (Refer to tables and maps).
 Drilling will continue to target shallow high grade gold mineralization on
multiple targets at the Banfora Gold Project.
 A new resource upgrade is expected in the coming weeks.

I thought that next news would be a resource upgrade. Maybe they're just trying to ramp it while they can.

And a decent ramp! Good intersections.

And these intersections are outside the current resources and recent target areas.

I didn't expect to see results from this area.

 

[munga]

Another ann out this morning.


ASX Announcement and Media Release
Thursday, 10th September 2009



I thought that next news would be a resource upgrade. Maybe they're just trying to ramp it while they can.

:

or maybe they have a open for business or sale sign up
i assume all these latest drill results will be included
in the resource upgrade?

 

[Sean K]

or maybe they have a open for business or sale sign up
i assume all these latest drill results will be included
in the resource upgrade?

Yes, I think anything they announce now will be added to the upgrade.


"Further results from the 20,000 metre drilling programme will be made at the earliest opportunity. The Company is anticipating a new resource estimate in the coming weeks after the completion of this drilling campaign."


Some of these results really a very good for West Africa.

12m @ 3.10g/t gold from 52m
8m @ 4.94g/t gold from 88m
4m @ 13.75g/t gold from 20m
6m @ 19.24g/t gold from 132m
9m @ 3.44g/t gold from surface
4m @ 38.00g/t gold from 60m
4m @ 11.70g/t gold from 44m


Should be a substantial upgrade, and this is just the first deposit they are drilling from a blind exploration hole.

They are claiming Banfora could be a project similar to the others in the area which range from 4-6.5m ounces. Fingers crossed.

"The Company believes that the drill results released to date confirm the potential for the Banfora Gold Project to host world class gold mineralization similar to other major deposits in West Africa."

4m @ 38 g/t and the stock didn't move! Must be factored in, or no one else is watching.

What was I doing when it hit 6c! arghhhhhhh!!!!

 

[munga]

4m @ 38 g/t and the stock didn't move! Must be factored in, or no one else is watching.

everybody is expecting an upgrade to over 1m ounces.
imo theres a good chance that after the ann
the stock will spike and then quickly go down as profit
takers move in.there needs to be an increase way over 1m ounces to
keep this going.

 

[Sean K]

This might look like a ramp, but can't argue with the charts. This could either be an inverse H&S or a C&H with about the same target. I'll take that thanks.

Wouldn't it have been nice to pick it up and the breakout down there.

While PRU is touted as a possible takeover I wonder if they're looking at something like GRY as a potential partner themselves. They are drilling in fairly close proximity, might be a good tie up. Banfora is in the blue circle. Maybe too far away for any synergies.

 

[Sean K]

Another ann out, more great intersections outside the resource are on a new target. Shaping up to be a potential multi million ounce player. New resource shouldn't be too far away and can only guess after adding up the recent results that they will surpass 1m. The market is well factoring it in as the mc keeps running further and further away.


Further High Grade Drill Results include 17m @ 9.2g/t Gold Banfora Gold Project, Burkina Faso

Highlights

 Drilling intersects high grade gold mineralisation at the Fourkoura Gold Deposit, only 7km from the Nogbele Deposit (Refer to tables and maps).
 Drilling includes a substantial 700 meter step‐out from previous drilling.
 Mineralisation is shallow (<100 meters depth) and open at depth and along strike.
 These consistently high grade drill results have significantly elevated the future potential of the Fourkoura Deposit, demanding immediate drilling.

Gryphon Minerals Ltd (ASX:GRY) is pleased to announce drilling results from the ongoing resource drilling programme from the Fourkoura Deposit, at the Company’s flagship Banfora Gold Project in Burkina Faso, West Africa. The Project is located in a major gold producing district, host to such world class gold deposits as Randgold’s Tongon (4.2Moz) Resolute’s Syama (5 Million oz Au mined & 6.5 Million oz Au in resources) and Anglo/Randgold’s Morila
(6.5Moz).

Refer to tables 1 & 2 for complete drill results, a selection includes:

17m @ 9.2g/t gold from 16m
6m @ 14.9g/t gold from 39m
5m @ 12.9g/t gold from 59m
14m @ 3.4g/t gold from 94m
12m @ 3.1g/t gold from 12m
20m @ 2.6g/t gold from 44m

 

[shag]

thats morilla the gorilla
lihir may be enormous, but all this peppering of large mines/deposits convinced me months back the risk was to the upside over there, to use beancounter lingo-plus grades and such
it was interesting to note that FP didnt even cover these as they push au and punts
hartleys even had pru as overpriced at 70/80 yesterday so i was told-pretty slack at the best

maybe not enough freebies for them all, plus mates in the game......

 

[jman2007]

Another ann out, more great intersections outside the resource are on a new target. Shaping up to be a potential multi million ounce player.

Yeah some great hits there, really really good. I guess it goes without saying if we'd both jumped on at 6c kennas we'd be popping the champagne corks right about now.

It's pretty much a given that GRY will get their 1Moz, and I'd also be reasonably confident in them proving up another 500Koz on top of that by the middle of next year. In some ways the story reminds me of PRU in the early days. The Tongon deposit is probably more relevant to Banfora than Morilla imo, Tongon is hosted in the same rocks along strike to the north, so the structural and geological setting should be quite similar.

The chart doesn't looked too overcooked, but tbh I'm more interested in the exploration upside than the expected Resource upgrade. There appears to be numerous ex-WMC targets that were poorly or sporadically tested which are just begging for some quality RAB and RC drilling. Cash balance looks to be ok well into 2010, and if they continue delivering results like this, there should be plenty more where that came from.

Not holding just yet, but it's becoming too good a story to ignore for much longer.