ANL - Amani Gold

Someone sure wanted to make sure they had a decent holding of BYR, 300k traded at 35c on open

When looking at the buy depth I think to myslef why didn't these buyers wait and try and pick up stock at 30c or so?

Only reason I could come up with is if they felt something was about to happen so didn't care and just HAD to get on board, very interesting!

Well I may have missed the boat with this one........waiting for funds........surely not the best time to get in now YT.

MB

I agree YT that someone or some parties have been desperate over the last couple of days to get into BYR. I get the feeling that maybe there might be a bit of inside info involved with the recent trading, remember they have stated that they have had the assays for over two weeks and should be in a position to release the news anyday now. Just by the large nature of the individual trades I get the feeling it is more than just a stab in the dark.

Anyway will be holding mine untill after the loyalty options and uranium tennement purchase. Just waiting now for the drill results.

Thought it was time for a reminder

BYR
Share structure
45m shares of which only 25m are listed
(Will be doing a 1:2 rights issue of 20c opies in early March)

Mkt Cap
20c = $9m
30c = $13.5m
40c = $18m
50c = $22.5m

Cash $5m in the bank

Gold Projects

Mansounia earning up to 92%, Gold, Guinea West Africa
This project had excellent fundamentals

The target deposit is 4kms long by about 1-1.5kms wide, previous drilling has indicated that the gold is low garde ie Avg 1g/t Au - 1.5g/t Au, but is at times near surface and is up to 60m thick avg probably 20m

This gives 80M - 120M cubic Metres of Dirt grading 1 - 1.5g/t Au

We have assumed previously that 1 Cubic Metre containg Fe = 4 Tonnes
I'll assume that 1 cubic Metre containing gold = 3 Tonnes

So 240Mt - 360Mt @ 1 - 1.5 g/t Au = 8Moz's - 20Moz's Au This can't be right, someone please find out how much 1 cubic Metre of Ore containg Gold = In Tonnes, also most of this assumes good results so why don't I just wait to see what the company says as I feel I'm way off

The deposit is 2kms south of the Keniero Mine owned and operated by TSX listed Semafo which is currently depleteing its low grade ore reserves, so obviously a toll treatment of ore here is the best option.

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

BYR completed a 90 RC Drill Campaign in Dec so expect results soon, if they prove up the mineralisation then watch out as the Investment Banks love these African gold plays (see GRY operating not too far away in Burnika Faso)

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.



URANIUM PROJECTS
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!


Gascoyne 100% Uranium, W.A.
10 Licences covering 1321 km²


South Australia 100% Uranium, S.A.
Only 1 licence so far





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

$5m cash in the bank

An upcoming 1:2 opie rights issue in March


THIS COMPANY LOOKS VERY PROMISING

Mkt Cap of under $12m won't last for long, another BCN in the making!

I hope your maths are correct YT a 20 million oz gold resource that would mean all BYR shareholders would be able to retire

Good to see some off screen buying appearing and snapping up anything under 32c, I hope this will become the next support level and the base for the next leg up.

mick2006 said:

I hope your maths are correct YT a 20 million oz gold resource that would mean all BYR shareholders would be able to retire

Good to see some off screen buying appearing and snapping up anything under 32c, I hope this will become the next support level and the base for the next leg up.

Click to expand...

Well at Mansounia the target deposit is 4kms long by about 1-1.5kms wide,
previous drilling has indicated that the gold is low garde ie Avg 1g/t Au - 1.5g/t Au, but is at times near surface and is up to 60m thick avg probably 20m

So 4000m x 1000m x 20m (using lower avgs) = 80M cubic Metres of Dirt grading 1 - 1.5g/t Au

I'll assume that 1 cubic Metre containing gold = 2 Tonnes

So 160Mt @ 1g/t Au (To use lower grade ore) = 5.7Moz's

The Avg EV for gold plays is $25 oz so Project Worth $145m based on those EV figures = $3 BYR (using 45m shares currently on issue)

Thats still Freaking huge!

Does anyone know how much 1 cubic Metre of Ore containing low grade gold weighs?

I searched and searched to no avail

Anyway alot of this is just speculation so we'll have to wait for company ann on its results to really know what they reckon they've got, I just did this exercise to try and forecast possible UPSIDE scenarios

YOUNG_TRADER said:

Well at Mansounia the target deposit is 4kms long by about 1-1.5kms wide,
previous drilling has indicated that the gold is low garde ie Avg 1g/t Au - 1.5g/t Au, but is at times near surface and is up to 60m thick avg probably 20m

So 4000m x 1000m x 20m (using lower avgs) = 80M cubic Metres of Dirt grading 1 - 1.5g/t Au

I'll assume that 1 cubic Metre containing gold = 2 Tonnes

So 160Mt @ 1g/t Au (To use lower grade ore) = 5.7Moz's

The Avg EV for gold plays is $25 oz so Project Worth $145m based on those EV figures = $3 BYR (using 45m shares currently on issue)

Thats still Freaking huge!

Does anyone know how much 1 cubic Metre of Ore containing low grade gold weighs?

I searched and searched to no avail

Anyway alot of this is just speculation so we'll have to wait for company ann on its results to really know what they reckon they've got, I just did this exercise to try and forecast possible UPSIDE scenarios

Click to expand...

Without knowing the type of ground or seeing logs, its likely to be around 2.4 or 2.5 tonnes per cubic metre.

I guess it depends on the type of ore that the gold is contained in..... this chart gives some of the more popular ones..

http://www.simetric.co.uk/si_materials.htm

So 2 would be conservative?

Thats fine with me, I prefer using conservative, lower end of the scale numbers when trying to forecast upside, as I'm always happy to upgrade

Good luck to all holders

1g/AU per tonne is very low.....I can probably dig up more gold in my backyard if I dug 1 tonne of dirt......anyway its all scale of economics.......the bigger the deposit the more economic it is to mine it as long as there is no sovereign risk or problems associated with the type of deposit.

Lucky for everyone is that gold is nice and high and doesn't look to be going down anytime soon.

Its worth a shot to be part of this but I wouldn't bet my house on this one....maybe a car

LifeisShort said:

Good luck to all holders

1g/AU per tonne is very low.....I can probably dig up more gold in my backyard if I dug 1 tonne of dirt......anyway its all scale of economics.......the bigger the deposit the more economic it is to mine it as long as there is no sovereign risk or problems associated with the type of deposit.

Lucky for everyone is that gold is nice and high and doesn't look to be going down anytime soon.

Its worth a shot to be part of this but I wouldn't bet my house on this one....maybe a car

Click to expand...

1 g/t Au and less ie 0.8g/t Au is the grade of most of the monster 2-40Moz deposits in that part of Africa, the big kicker here is the deposit is 2kms south of the Keniero Mine owned and operated by TSX listed Semafo which is currently depleteing its low grade ore reserves, so obviously a toll treatment of ore here is the best option.

So as TSX Semafo had no problem mining and processing its 2Moz deposit garding 1 g/t Au, I can't see how Toll Treating BYR's ore will present a problem and 2km's is hardly far to truck the ore,

I'm here for the U potential though, mainly these 2

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!

Lyndon does look very interesting,

And I guess the rights opies don't hurt,

I'm sure people thought they could dig up more than 0.3%cu in their backyard when I was talking about BCN :

1 g/t.. sounds like it may be a heap of leaching to me....

nice strong finish to the day with someone taking a 114k chunk, also record high today of 35c, and a closing high of 34c. All looking good heading into the drilling announcement, surely will be out before weeks end. Also good to see gold heading higher in Asian trade hopefully will hold gains tonight and set up BYR for another nice run tomorrow.

mick2006 said:

nice strong finish to the day with someone taking a 114k chunk, also record high today of 35c, and a closing high of 34c. All looking good heading into the drilling announcement, surely will be out before weeks end. Also good to see gold heading higher in Asian trade hopefully will hold gains tonight and set up BYR for another nice run tomorrow.

Click to expand...

This one is on my watch list especially for the uranium exposure as long as the due diligence comes through OK. The forthcoming options issue is also a big plus. Just waiting for the right entry point.
DYOR

with gold approaching $670 usd an ounce in overnight trade it should be another good day for the gold sector including BYR, closing at another record close last night should set us up for a nice run in the morning.

The "Comprehensive analysis" of Masounia can't be too far off, 2 weeks from when Qtrly was released was yesterday, so I'd say Friday or Monday by the latest.

Not too long now,

I just wish the U report wasn't going to take so long, he started in January, as if he can't finish by Late Feb, I mean the prospectivity of Lyndon alone makes the package worthwhile,

I Pre JORC estimate of 700kt's@ 0.06% = 770k's lb's U in 1 of 5 targets

Could be 3.5Mt@0.06% = 4M lb's U all up potential

@ $15 lb EV Current Estimate (1 of 5) worth $12m

@ $15 lb EV Upside Estimate (5 of 5) worth $60m

And then there's the JV with Mega over Kintyre,

There's just no U plays like this left

So even if gold project doesn't turn out to be a 5M oz company making monster, the U ones will certainly cause a re-rating of the SP,

Look at ARU, SAU and KOR, can you imagine if BYR decided to spin off this portfolio of U assets?

Agree YT that it is good to have more than one focus for the company, certainly some good uranium prospects there. Looks like a little bit of profit taking today only on thin volume which is good. Noticed there is a few shares available around 32c which is a good entry level as people have been snapping them up over the last couple of days, thinking of topping up while there are still some available.

Now down 9% to 30c.

Either we are badly mistaken or here is our buying opportunity.

Incidently, AAO gold is up 30% today.

Buy and sell side starting to come together a little..some big orders still there in the mid 20's..I may look at picking up some more later today if the price is right...certainly gone off the boil, in comparison to the last week.

Huge potential here for a profit in the next 6 months (IMO).

bigt said:

Buy and sell side starting to come together a little..some big orders still there in the mid 20's..I may look at picking up some more later today if the price is right...certainly gone off the boil, in comparison to the last week.

Huge potential here for a profit in the next 6 months (IMO).

Click to expand...

I agree wholeheartedly. Today was probably some profit taking after its recent run. Its just a question of the right entry price. This company is trying its best to add further value for shareholders. The uranium potential looks very interesting and its gold prospects are very good.
DYOR