AUL - AuStar Gold

PP123 said:

Is there anything in the pipeline to believe these shares will get back up to the former glory days of $0.50+ or was it just a hype run, and these are the true value of these shares? I bought @$0.40 and its just been sliding since.

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The way I look at it if the company has the fundamentals right i.e. good management, good resources etc. the sky is the limit.

If you don't need the money you used to invest, stick mnm in the drawer and wait until it tests new highs!

this share is the just going down hill.
Everytime i look at it it seems to be lower and lower till its worth nothing!

I have held this one since July 08, bought in at 33.5 .....

Averaged down a few times since, to 9.1 now

Finally some action with larger volumes traded and some small rises over the last few days ..... currently 5.0

Could MNMs day finally be here?

Did anyone else just see MNM go into a trading halt? ASX doesn't tell us much in the company comms.....

A trading holt at 5.5c pending a notice:

I hope it's good news ..... has anyone heard anything?

no chatter in this one for a while but has had an interesting last few days....

lots of action in it

$7.5m market cap. drilling in NT intersected "potentially significant phosphate mineralisation"

also have gold, CBM and uranium projects

Coal Development MOU Executed.
Mantle Mining Corporation Limited (ASX: MNM), is pleased to advise
that it has executed a non-binding Memorandum of Understanding
(MOU) with Exergen Pty Ltd (exergen.com.au) for the development of its
100% owned Bacchus Marsh Brown Coal Project in Victoria.

One to keep an eye on at the moment with results due very soon from their Haunted Stream Gold & Base Metals Project. I covered MNM in a recent blog post:

I would consider Mantle Mining one of my more speculative holdings, however there is potential for a huge payoff if any one of their exciting projects comes to fruition.

Initially placed on my watch list as a Gold/Silver micro-cap with potential (they have a JORC Gold/Silver resource), recent developments have made it clear that the big value may come from their Coal assets.

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Continues at:
http://bullionbaron.blogspot.com/2010/09/mantle-mining-asx-mnm.html

Last half hr of trading on Friday saw MNM finished the week strong breaking into 4.7cent territory (0.1cent off resistance level)
Expecting the completion of the drilling at their Barkly Phosphate project. (stated completion by early October)
Announcement on the way perhaps?

a 40% plus rise today towards 14c on the back of directors buying options ??? i dont think so... some one has let the cat out of the bag and the buy sell ratio being held for several days suggests so. this minow has a number of exploration targets (too many for my liking) which are presently the flavour of the month

Ive been in for sometime on the coal potential and have thought several time of getting out due to legal battles and resources being spent on gold and other targets.

One could expect a sell off as some punters will have made 100% in the last month.

for those who enjoy these speccy mining hopefulls, worth a look

With MNM up 190% last week and a further 72% today, Some of you may be interested in this post that was first presented on HC.

We should get the result of the Mt Mulligan court case this week which will further help upside.

Worth noting MNM closed at the day's high today ... always a good sign.

I hold the stock

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Post reads:

This is from Bullion Baron back in september and highlights as many knowlegable posters have done why mnm is so undevalued and why I am not dreaming with my $1.00 price target inside of 12 months:

Mantle Mining (ASX: MNM)
I would consider Mantle Mining one of my more speculative holdings, however there is potential for a huge payoff if any one of their exciting projects comes to fruition.

Initially placed on my watch list as a Gold/Silver micro-cap with potential (they have a JORC Gold/Silver resource), recent developments have made it clear that the big value may come from their Coal assets.

Firstly a few numbers:

149.2m Shares x .046 = $6.85m market cap
30.8m Listed Options (MNMOA), 7c by 31/12/10 strike
Cash at end of June quarter: $843k + $300k since received in tax offset = $1.14m (approx cash burn has been $400k per quarter).

If the share price appreciates to 7c+ before the end of the year and all options are exercised this would add another $2.15m to the cash position detailed above.

They have Gold and Silver resources (JORC compliant) across two of their projects:



Great Britain Gold Resource:
125,000 @ 1.8 g/t Au

Granite Castle Gold and Silver Resource:
79,301 @ 2.91 Au & 1,530,803 @ 56.2 Ag

Applying a basic in ground valuation (comparatively valued to Mantle's peers) on this resource provides a value higher than their entire market capitlisation:

Total Gold: 204,301 ounces x $30 = $6.1m
Total Silver: 1,530,803 ounces x $.80 = $1.2m
Total value of resource: $7.3m (compared to market cap of $6.85m)

A definition drilling program for Granite Castle is in the early stages of planning for later this year.

Their third and potentially most exciting Gold tenement is the Haunted Stream Gold & Base Metals project. Located in Victoria, this tenement is in an area with a rich history from the Gold rush era.

Bush fires in 2008 uncovered some 200 old mine workings under which they are currently drilling an anomaly (Anomaly 4), which is a major target for possible deep vein gold or porphyry copper-gold mineralisation. The drilling program has intersected multiple shear zones with visible base metals. Lab results are pending, an announcement surrounding the results is expected shortly.

The Heritage Victoria website details some of the grades from the Gold rush era in this area:


HAUNTED STREAM GOLDFIELD NOTES

March 1884: Ernestine Co. - 'I am informed on reliable authority' that 1,281 tons from their mine yielded 320 oz (approx 7.75g/t)

December 1884: Hans Co. - 460 tons yielded 200 oz gold. Rob Roy Co. had trial crushing at Ernestine battery - 40 tons yielded 169 oz (approx 13.5g/t & 131.4g/t)

June 1885: Hans Co. employing 30 men - 750 tons crushed for 216 oz. Rob Roy Co. tunnel in about 120 ft - about 140 tons yielded 560 oz (approx 8.95g/t & 124.4 g/t)

Heritage Victoria


The g/t figures above were calculated by myself from the details provided, there are more examples if you follow the link.

Further to the above precious & base metal projects MNM also has promising developments occurring with their coal project at Bacchus Marsh. They've executed a significant MOU with Exergen. Here is an article that covers the news:


Mantle, Exergen to develop clean brown coal

Mantle Mining Corporation Ltd has signed a non-binding memorandum of understanding with Exergen Pty Ltd for the development of its 100% owned Bacchus Marsh brown coal project in Victoria.

Mantle, which has recently been granted priority over an application for EL5294 at Bacchus Marsh, believes the tenement could contain an exploration target of between 1 and 2 billion tonnes of brown coal.

Exergen has developed a breakthrough clean coal technology known as continuous hydrothermal dewatering (CHTD).

Exergen's cornerstone investors include Tata Power, Theiss (Leighton), Itochu and Sedgman. Mantle and Exergen have formalised a 50-50 joint venture for exploration and subsequent mine development.

Exergen will construct a 50 tph demonstration drying facility and an export project on its 50% of the coal deposit.

Mantle will be licensed to use the CHTD on its 50% of the coal deposit.

Business Spectator


Also of interest is this excerpt from Exergen's website:



The LV-NG Project

Having successfully proved the CHTD concept in its 4tph Pilot Plant, Exergen has completed a Detailed Feasibility Study for a proposed 50tph Demonstration Scale Plant and a 4000tph Commercial Scale Facility.

Once a suitable Latrobe Valley brown coal resource has been identified and secured, LV-NG intends to invest up to $100m over the following two years completing the Development and Demonstration Phase. During this phase, LV-NG will secure all necessary project approvals, commercial agreements and also construct a 50tph, Commercial Demonstration Plant in the Latrobe Valley.

In the following Commercial Construction Phase, LV-NG intends, over a three year period, to develop a new 30m tonnes per annum brown coal mine and an adjacent CHTD Processing Plant in the Latrobe Valley.

The CHTD plant will produce 12m tonnes per annum of enhanced Exergen brown coal and 16 gigalitres per annum of industrial / agricultural quality water. The treated Exergen coal will be transported in a slurry form, in a new pipeline constructed by the consortium, to a location adjacent, at The Port of Hastings Authority on the Mornington Peninsula.

A Final De-watering Facility will remove excess water prior to the finished product being loaded via covered conveyors onto ships for export.

Exergen

An intention to spend $100m on the plant/development for 50% of the project that Mantle currently owns outright and Mantle has a market cap of less than $7m? Mantle is incredibly under priced at today's share price if this MOU develops into the arrangement planned.

Interestingly Mantle's MD is formerly from Exergen. One can't help but wonder whether there has been a plan all along for Mantle to be partnered with Exergen.

Recent comments from Australia's new Climate Change Minister (Greg Combet, former coal engineer) should assure investors looking at companies with Coal based projects that there is someone looking out for them at the top:


Australia minister reassures coal industry

Australia's new Climate Change Minister Greg Combet has vowed to bring 'common sense' to the climate change debate, and has warned that he will fight for coal industry jobs as he pursues a price on carbon.

The Australian newspaper says the former union leader has predicted the coal industry 'absolutely' has a future as he pursues his three key policy reform objectives: pursuing renewable energy; energy efficiency; and the development of a carbon price for Australia.

Insisting the Climate Change portfolio is an economic reform challenge, he said: 'You don't take the back of the axe to the fundamentals of the Australian economy.'

UPI


Further to the above Mantle has also begun drilling at their Barkly Phosphate project. Drilling is expected to be complete by early October.

It should be noted that Mantle Mining has commenced proceedings in Queenslands Supreme Court to enforce an agreement for the assignment of their Trafford Coal tenement (not one of those projects detailed above). I've read through the details and looks pretty open/shut to me (for a Mantle Mining victory & hopefully they recoup their costs in the process), but it's not always that simple.

Mantle Mining has other projects that I have not covered in this post, I would suggest trawling through some of their recent announcements for further information about what they have to offer.

This is not the sort of company that you dump your life savings into, but in my opinion the risk here is far outweighed by the potential for huge rewards.

With a whole swag of announcements likely on the way in the next few months Mantle not only provides an opportunity for the value investor but also for the short term trader. Although Mantle can be relatively illiquid at times it also often spikes higher on positive news as can be seen in the below chart when the MOU was announced (also on a longer term chart you will notice a tendency to spike higher on news).

ENDS

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It's a bit old but it does give you some idea of what MNM is sitting on.

Happy New Year all

EB

In the red for the last 2 days but now bounced off the bottom with good momentum heading into the next week. Looking forward to the action to come, hopefully up towards the 25c mark.

chiasm said:

In the red for the last 2 days but now bounced off the bottom with good momentum heading into the next week. Looking forward to the action to come, hopefully up towards the 25c mark.

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This seems to have run on Hot Crapper momentum. The only recent news was the coal project JORC exploration target. The rest is really average. The gold projects are way too small to even warrant doing anything but panning or sending your grandpop out with a metal detector. Looks like a very short fling with a Madam to me. Quick to climax and even faster retreat.

kennas, I suspect that will all change once we know the result of the court case in early March. It should leave MNM sitting on a 100mn - 500mn black coal deposit.

Also keep an eye on the Vic Government's planned trip to India later this month. Exergen will be accompanying the delegation and an outline export agreement using MNM's brown coal and Exergen's dewatering tech is a distinct possibility.

Then finally MNM's phosphate tennemnts lies alongside those of MAK.

Plenty to come over the next few weeks imo.

EB

Trading Halt today.

I suspect we will have an ANN early next week confirming that Calcifier has capitulated and that MNM now has full title to Mount Mulligan's 100mn - 500mn tonnes of black coal, in addition to everything else.

If I am correct in my surmission then a substantial gap-up is on the cards when trading resumes next week.

Happy days

EB

Tomorrow's price action should be very very interesting indeed.

Missed out on MAD volatility today.

Not going to miss out on sp action on MNM.. shall see what happens tomorrow.

Anyone watching MNM price action atm? (I thought shares would be on on the announcement??!)

Definitely the most talked about share in other forums.

Anyway, traders disappointed with the national park news out of the court settlement.

But it still looks like MNM is still sitting on large amounts of resources (coal & gold???).

Very interesting to watch.. do not hold.. yet.

Are any previous posters still watching MNM?
Trading halt issued today on the back of annoucement regarding Trafford Oil and Gas Project.
http://www.asx.com.au/asxpdf/20120620/pdf/426xx9ckqwvm1g.pdf

4th June announcement regarding Bacchus Marsh
http://www.asx.com.au/asxpdf/20120604/pdf/426mw58khkfnrj.pdf

Highlights:
On Friday, drilling through the coal seam at hole MBM 013 was completed.
Based on driller’s logs, the hole intersected 44.3m of brown coal as versus a predicted thickness of 30m. This equates to a 48% increase.
For the overall drilling program, total cumulative actual seam thickness as versus predicted seam thickness is 530.8m Vs 418m. This equates to an overall 27% increase.
These results indicate an excellent potential to deliver a robust maiden JORC Inferred Resource* at Bacchus Marsh.

Their project portfolio includes;
Granite Castle Gold & Silver (QLD)
Charters Towers Gold & Copper (QLD)
Haunted Stream Gold & Copper (VIC)
Ashford Gold & Silver (NSW)
Trafford Coal & Coal Bed Methane (QLD)
Latrobe Valley Black & Brown Coal (VIC)
Bacchus Marsh Brown Coal (VIC)
Texas Black Coal (QLD)
Barkly Phosphate (NT)

242m shares on issue, should be $1.3m on hand this quarter.

MNM's announcement re: trading halt, reads as below.
http://www.asx.com.au/asxpdf/20120622/pdf/426zjsg98z2djc.pdf

Highlights:
• On Wednesday 20th June, a large community meeting was held between Mantle, the Djungan People (the relevant Native Title Party) and the North Queensland Land Council (NQLC).
• The purpose of the meeting was for the Djungan People to consider the proposed Indigenous Land Use Agreement (ILUA) in relation to Mantle’s 100% owned Trafford Coal and Gas project in North Queensland.
• The purpose of the recent trading halt was to ensure that the market would be fully informed of the outcome of the meeting (due to the potential for a decision to possibly be taken during the day to either authorise or not, execution of the ILUA).
• The outcome was that some further consultation was required with a number of the Djungan on a number of terms in the ILUA.
• These terms have since been agreed in principle and further consultation is now being organised in order to finalise these terms and complete the level of consultation required by the Djungan.
• Mantle and the Djungan People are considering the ILUA based on its embedded principles of full protection of Cultural Heritage for and by the Djungan People, mutual management decision making processes for exploration activity, and staged compensation, employment and training packages.
• These principles are considered paramount for the development of future relationships based in mutual respect, trust and, thereby, effective decision making.
• Mantle is also pleased to advise on progress in relation to tenement status, since winning the recent Supreme Court action (to enforce transfer of the exploration tenements to Mantle) against Calcifer Industrial Minerals Pty Ltd.
• The company has progressed successful discussions with the relevant government department in relation to the requirements for retaining the tenements in good standing under the licence conditions of the Exploration Permit for Coal (EPC 772).
• Further announcements on progress will be made in due course.

Mantle has announced that it has received Priority Status over two additional exploration licence applications immediately adjacent to its Latrobe Valley Coal Project:
http://www.asx.com.au/asxpdf/20120625/pdf/4270ggft0bc2z7.pdf
● Mantle has a portfolio of coal exploration licences in two key Victorian coal basins, where it is exploring for extensions of historic coal mines that operated from the late 1800’s through to the mid 1900’s (Figures 1, 2 & 3).
● These new applications are strategically placed, linking the company’s existing licences together, with one area adjoining the Latrobe Valley S7 Exempt area within only a few kilometers of the Loy Yang Mine (Figures 4 & 5).
● Mantle is seeking to define new black coal deposits and apply brown coal upgrade technology to develop new export opportunities. The company is not focussed on Coal Seam Gas (CSG), fracking or Underground Coal Gasification (UCG).

They seem keen to distance themselves from CSG and UCG!