ANL - Amani Gold

Is anyone topping up while they are low?

Yep, picked up some more at 20.5c today.

Hopefully in time for the oppies.

Looks to have now confirmed floor support at 20c

Sighhh I could have bought about 40% more at these levels, oh well

YOUNG_TRADER said:

Looks to have now confirmed floor support at 20c

Sighhh I could have bought about 40% more at these levels, oh well

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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

Sweet Synergy 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

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I'm still holding and am not worried at all.
DYOR

Over the next couple of weeks when the announcements come out its sure to bounce back.

GRTRADER said:

Over the next couple of weeks when the announcements come out its sure to bounce back.

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Stil waiting for the ann on the options issue and also for an update on the potential uranium acquisition. Still patient and optimistic.
DYOR

Announcement came out at 5.14pm - 1 option for every 2 shares at 1c per option
valid until 30 June 2009.
What do you guys think?


Also looks like a lot more drilling in May if I read it right.

GRTRADER said:

Announcement came out at 5.14pm - 1 option for every 2 shares at 1c per option
valid until 30 June 2009.
What do you guys think?


Also looks like a lot more drilling in May if I read it right.

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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

GRTRADER said:

Announcement came out at 5.14pm - 1 option for every 2 shares at 1c per option
valid until 30 June 2009.
What do you guys think?
.

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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

Where did you read that?

From what I can see it just says that you have the option to exercise at anytime up until they expire.

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

YOUNG_TRADER said:

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

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As foreshadowed in the Company’s prospectus dated 20 October 2006, the Company will undertake a nonrenounceable
entitlement offer of options on the basis of one option for every two shares held at an issue
price of one cent per option. The key dates are summarised below and an Appendix 3B is attached.​

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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.

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

Its easy to lose sight of the fundamentals with the lack of interest, so I thought I'd remind everyone about BYR's fundamentals

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

Thanks, YT
Your research is second to none. Just topped up today to get more oppies. I wonder if there will be a mad dash to buy as the closing date for the oppies gets closer?

Yes thanks for that YT - all looks positive for the future - I am planning to hold this one for a while and see what happens

plenty of buy depth at the moment and sellers starting to thin out.

Buys at 24.5 and sells at 28 - now it gets interesting!

Let's see who cracks first!