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AS1 - Asara Resources

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Re: GMR - Golden Rim

I get the feeling that we must be getting closer to some initial results from Sweden. The SP is growing each day with solid volumes. Suggests to me that the punters want to be in when the results start to come through.

Happy to hold and wait


Holding GMR at 3.8c ave
 
Re: GMR - Golden Rim

Hi all

GMR has had some very good write up other forums.

I got in at 14 cents. not lucky as the ones that got in at 3 & 4 cents, but the outlook is a around a $1 in a few months, and around 30 cents within a few weeks, when falun (Sweden) drill results are out.

Also they have a few mines in Mali.

Another company which is also in he same boat (Falun) is DRK. They have fewer shares issued + hold shares in other good miners.

Got into DRK at 26 cents, but that is down to 24 cents now.

They both are expected to to go up around 30% when the drill results are out.
Because the results were expected end of Sept, the delay to october has caused the SP to slow down and retrace in the last few days, so might be a good time to get in.


As Sweden does not have the testing facilities, the cores have been sent to Canada for testing. (hence the delayed results)

This is my 1st post, and am very new to share trading, so this is more the opinion of other experienced traders than me, on other forums. Please DYOR.

If anyone is further interested, please let me know, i will post new links.

Thanks
 
Re: GMR - Golden Rim

G'day Sting. Welcome to ASF.

Agree that GMR is a great prospect at present. The delay in getting results from the lab in Canada will mean that GMR is likely to soften a bit (as we have already seen) as many punters won't leave $$$ sitting there if they think that they can use the money in the interum and then return.

Once we get into mid-October, we should see the SP strengthen. The potential impact on the SP is very significant IF if the results are as good as have been indicated. That said, nothing like the lab for a truth detector!

I'll be holding as I don't want to be out of GMR when they suddenly announce results just in case they fulfil expectations.

All the best with your investments.
 
Re: GMR - Golden Rim

Thanks BESB Player

I too am hoping for the best.

I hold GMR & DRK

Same boat.

Closed at 15 today, might pick up a few more.
 
as a patient and happy holder of gmr (and tipped gmr in this months competition)its good to see a few chunks taken from the sell column today, does any of the holders know if we are to get an update on the shared aerial survey in mali anytime soon-i guess that the initial drill results from falun should be soon , and the drill program must be about to commence again in mali, hopefully to upgrade the resource figure-is it usual that all announcements would appear together ie.one asx release-or does each separate project require separate updates?any help appreciated with how it works-thanks
 
Trading Halt.

I would expect that it will be drilling results.
While we can't be sure, at least GMR is not a one dimensional company as it has both Mali and Sweden on the go. I do not usually carry through to results but is a rare exception. Will I be eating scrambled eggs at the Hilton or wearing the egg on my face???
Given the recent SP increase in the last couple of days, I am hoping that the leaked news is good news and not simply punters getting in at this very moment.

Holding GMR at 3.8c
 

It is the drilling results.

And you would not be wearing egg on your face having made a whopping 450%+ increase on your cash money chemistry.

If that's egg then I'll eat some
 
Results out:

Bonanza Grade Gold Intercepts Obtained in Sweden Golden Rim Resources Ltd (ASX: GMR, Golden Rim) today announced the results of the first assays received for the current drilling programme at Falun, Sweden. These results confirm the presence of very high grade gold and broad zones of gold-copper-bismuth mineralisation. Highlights

● 11.6m @ 61.2 g/t gold, 1.2% copper and 0.09% bismuth from 57.0m (Hole 06-09);

including 0.75m @ 887 g/t gold, 5.92% copper and 0.7% bismuth;

● 21.4m @ 6.8 g/t gold, 0.9% copper and 0.07% bismuth, from 16.6m (Hole 03-09);

including 0.6m @ 91.4 g/t gold, 1.6% copper and 0.8% bismuth; and

● 32.8m @ 1.8 g/t gold, 0.5% copper and 0.02% bismuth, from 51.8m (Hole 03-09)

Pity it was a red day on the market but I am reasonably happy with these initial results. Thankfully no egg on the face!!!

I'll be holding now for future results. The next 2 months should be interesting for GMR as results come to the market.

Holding GMR @ 3.8c
 
Nice to see Mali getting underway.

Although no guarantees, it looks like plenty of potential news for GMR before Christmas given the current activity occurring.



Holding GMR at 3.8c
 
Hi all.

Yes, results were solid today but I sold as soon as I saw the market response.

My guess is the following (as if I can read the market anyway???)

* Results could have been greater. Many hoped for the Trading Halt due to the results. Didn't happen.
* Production will be a long time off.
* Mention of problems in some holes does not help confidence in a market that is still a little jittery just below the surface!
* Can't be too far off a capital raising to keep funding the admin, Mali & Falun work. This would weigh on many investor's minds.

I had sold some earlier to get free-carried and then cleared the decks today. Time to get set in other BESBS (Buy Early Sell Before Spud) plays.


Bought GMR at 3.8c ave.
Sold GMR at 16c ave.
Profit: 325%


Good luck to all holders. Hope that the results in late November are worth their weight in gold!
 
Anyone still holding or following GMR? I attended the Melbourne Mining Club Cutting Edge meeting (last one for 2010) last Tuesday night and GMR was one of the companys presenting.

I took down the following notes:

  • Focussed on West Africa, primarily Mali and Burkina Faso.
  • Large ground holding in West Africa (more than 3,800 square kilometres).
  • Have three drilling rigs at a project called "Sebba". Expect results at the end of November 2010.
  • Will drill test a project called "Farraba" in Mali shortly.
  • Cornerstone investor in GMR from the royal family of Abu Dhabi. Also in a joint venture with the royal family's investment company with interests in Sweden (Falun project).
  • GMR expects to have five or six drilling rigs under way in Africa by Christmas 2010.
  • Current market cap is $75 million, with $11 million in cash and 355 million shares on issue.
  • The Sebba project covers 1,300 square kilometres. Active artisinal works and visible gold. Gold detected in soil anomalies over 1km wide. Assays up to 6.2g/t gold. High grade rock chips up to 78 g/t. Drilling has commenced. Currently obtaining more samples. Poorly explored area.
  • At the "Balogo" project in Burkina Faso, rock chip samples of up to 29.6 g/t gold. A lot of visible gold. Extensive gold found up to 100 metres away from the fault system. Sampling to be done in December 2010.
  • Yako project in Burkina Faso - previously explored by a Canadian company but the company ran out of money due to GFC. Broad and shallow mineralisations. Number of intercepts of up to 11 metres @ 8.7 g/t. Plan to drill in December 2010.
  • Sepola project in Mali - already has 181,000 ounces of gold inferred. The project is situated in a belt where the land is tightly held by other gold explorers. GMR is preparing to drill the resource, having identified up to 4km of targets. Reasonably confident that the drilling should lift the inferred resources.
  • Lingguekoto project at Sepola (in Mali) - mining quartz with gold veins. This prospect was previously explored by Hyundai Motor Corp (looking for other metals, not gold). Good intercepts but Hyundai could not work out in which direction the quartz was trending. GMR feel confident that it has determined the trend direction of the quartz.
  • Faraba project in Mali - 40km corridor with gold and arsenic anomalies detected. Soil samples return assays up to 6.5 g/t gold.
  • Falun project in Sweden - been mined for 1,300 years but significant resources still remain. Done 7,000 metres of drilling already with good intercepts returned. Undertaking gravity survey in December 2010 to improve resource estimation.

Looks to me to be a good speccie, but my overriding concern is that by the time they finally have producing mines, gold's price will not be at the seeming stratospheric heights currently being reached.
 

I might be buying today but what concerns me is ASX:MOD pending acquisition of GMR copper project in Botswana: (Board approved - shareholders vote in May I think)

On completion of the Acquisition, MOD will own the entire issued capital of GMR Resources Pty Ltd (GMR) which, at the time of completion, will own 100% interests in 14 granted prospecting licences (GMR Copper Project).

Is this good or bad news for GMR holders?
Why is GMR selling off potentially lucrative copper licences?
 
Pretty amazing intersections out today.

Some of the best I've seen out of W Africa.


Only over a few hundred meters but open. If that's sustained over a decent strike and perhaps further at depth, could be quite significant.
 
Looking at the radiometrics it seems this deposit could be around 2 km long by 1 km wide. While they state it's 'open' to the NE and SW the survey's don't really seem to indicate that. The fact they have concentrated their drilling on a pretty small area confirms this in the geo's head. Not sure if the current prospective width warrants open pit, but possible. Perhaps if they find a few more shoots, or it has other minerals around the edges. The grades make this definitely mineable if the results continue like this. Long way from mining of course, maybe 2 years away even if the numbers add up. Still, this is where the big gains are made, at discovery.

Looks like a breakout.

 
General market finally caught on to the potential here. Surprised it's taken a few days. One of the few specs I've seen in the last 2 years that I thought worth really looking at.

 
No news on the latest spike but no surprise due to those results above.

Company hasn't any history of taking prospects to results though (from what I see) so I'd still be cautious.

Amazing few weeks though.

 
Follow up drill results around the incredible grades at Netiana are a little disappointing. Just 2 significant intercepts there. Have to look at it more to make some heads and tails of it.

The revised intercepts look pretty amazing. 8m at 244g/t. Must have drilled through a nugget. Bendigo like grades. Worrying actually.

The porphyry results are a distraction at this stage. Unless those grades are found over 200-400m then it's pointless to dig it up.



I'm not as excited as I was with the previous drilling.
 
More good results, maybe it's adding up to something?

Still worth looking at closely at this very early discover stage. The cartoons in the announcement look like it's a discovery....
 
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