EYE - Eagle Eye Metals

[Whiskers]

Interesting little company with a reasonable looking adjoining set of nickel oxide prospects, the best of which seems to be Wanaka.

Other projects include Wandry Well nickel/gold project, Leonora East base metals project and what the company considers highly prospective gold projects at Apollo Hill, Mertondale and Erlistoun.

It seems that it's first resource estimate is probably not far away after the latest drilling of the Wanaka prospect.

The Wanaka prospect is located immediately along strike to the south of the GME Resources Ltd’s
Waite Kauri nickel oxide deposit (1.30 Mt @ 1.33% Ni and 0.14% Co).

The holes WKRC1001 to 1046 were drilled at the Wanaka prospect during the previous quarter for a
total of 1,517 metres. The drilling at Wanaka has defined a 150 metre wide zone of nickel oxide
mineralisation. Significant results at a 0.5% Ni cut off grade were achieved in this programme include:

WKRC1009 10 metres at 0.81% Ni, 0.03% Co and 8.72% Mg from 2 metres

WKRC1010 12 metres at 0.90% Ni, 0.03% Co and 8.61% Mg from 2 metres

WKRC1011 23 metres at 0.77% Ni, 0.02% Co and 9.43% Mg from 10 metres

WKRC1012 14 metres at 1.03% Ni, 0.05% Co and 6.58% Mg from 12 metres

WKRC1013 15 metres at 1.09% Ni, 0.06% Co and 4.89% Mg from 14 metres

WKRC1014 9 metres at 0.92% Ni, 0.06% Co and 2.57% Mg from 8 metres

WKRC1014 5 metres at 1.15% Ni, 0.05% Co and 7.88% Mg from 20 metres

WKRC1032 8 metres at 0.94% Ni, 0.14% Co and 3.25% Mg from 14 metres

WKRC1033 4 metres at 0.86% Ni, 0.11% Co and 6.56% Mg from 9 metres

WKRC1033 5 metres at 1.56% Ni, 0.07% Co and 3.71% Mg from 15 metres

WKRC1021 18 metres at 0.54% Ni, 0.04% Co and 2.97% Mg from 5 metres

WKRC1022 18 metres at 0.59% Ni, 0.04% Co and 4.39% Mg from 9 metres

WKRC1021 16 metres at 0.53% Ni, 0.02% Co and 3.39% Mg from 10 metres

 

[blobbob]

Market cap @5.5c is 2.4m with 3.3m in cash, guess the market don't give a s*** about nickel explorers.

 

[lastman]

Market cap @5.5c is 2.4m with 3.3m in cash, guess the market don't give a s*** about nickel explorers.

Nickel will go the same as Uranium. Retail investors will dump their stocks and people with a brain will pick them up cheap.

This looks like an interesting play with good upside. Pretty tightly held register and on the face of things pretty undervalued. Wait and see I guess

 

[ectoplasm]

Nickel will go the same as Uranium. Retail investors will dump their stocks and people with a brain will pick them up cheap.

This looks like an interesting play with good upside. Pretty tightly held register and on the face of things pretty undervalued. Wait and see I guess

Not much happening on this thread lately...

Several recent Price Sensitive EAGLE EYE METALS LIMITED company announcements (latest "29/01/2010 Quarterly Activities and Cashflow Reports ") the latest covering:

+ AGL interest & IPO
* Erlistoun gold developments

looks like a toy company which has based out and may just be on the come back trail...

Chart/s for them interested - daily detail then weekly context: FWIW Low liquidity but if gold cares to bounce this one will too IMO

 

[Whiskers]

Well, I've been in and out of this, but it stayed on my watch list... and I missed this!

Sounds like some good West African Gold interests picked up, subject to due diligance etc.

 

[skc]

Well, I've been in and out of this, but it stayed on my watch list... and I missed this!

Sounds like some good West African Gold interests picked up, subject to due diligance etc.

Watched this from the morning and had an order at 7.5, waiting for a partial gap fill...
guess that plan didn't work out.

 

[Sir Lance]

I see the company is in trading halt today pending a company annoucement. First I was thinking excellent - release some good news to the market (ie found more gold, better than expected drilling results etc) and then I will sell (my small qty of shares).

However upon reading the ASX media release the halt has been requested for funding ? I am assuming this is funding for good reasons and no debt related

SL

 

[Whiskers]

I see the company is in trading halt today pending a company annoucement. First I was thinking excellent - release some good news to the market (ie found more gold, better than expected drilling results etc) and then I will sell (my small qty of shares).

However upon reading the ASX media release the halt has been requested for funding ? I am assuming this is funding for good reasons and no debt related

SL

This paragraph in the Half Yearly Accounts released on 16th March pretty much explains it I think.

They also have an option to take up a 20% stake in Aphrodite Gold (AQQ) which has just released an upgraded resource of over 1m oz of gold. I suspect they will take that option up as well.

I spoke to Wayne Ryder way back when nickel was the flavor of the day and liked his style. That's the reason I liked the prospects of the company. But, the company has evolved a bit since then, the world has had the GFC and these are some pretty big steps being embarked upon now with some serious cash and script changing hands.

I'm sitting close by the sidelines for the moment.