BMB - Balamara Resources

[skc]

Re: SSC - Sultan Corporation

Smashed on open .. as usual to much hype and gets sold down on news ...
usual storey these days obviously to many people new a few days ago..whilst normal punters get burnt..

Pretty nice gap fill on 3.1c. There is so much liquidity on this stock meaning many traders watching so a bounce there probably not unexpected...

The uptread appears intact if current levels hold imo.

 

[adobee]

Re: SSC - Sultan Corporation

taking the buying opportunity today providing we stay above 2.7 I think all is looking positive still.. if it closes below may be a bit worried.. sells look like they are manipulating the price somewhat however .. Hoping for a Peelwood update very shortly to get the ball rolling in the right direction ..

 

[warennie]

Re: SSC - Sultan Corporation

I see a bit of a standoff between 2.8 and 2.9 developing... Think im 1st in line at 2.8

 

[adobee]

Re: SSC - Sultan Corporation

looks tight at the moment .. volumes slowed down and both buyers and sellers are holding there ground.. a little bit of stability wont hurt this stock or my nerves ..

 

[warennie]

Re: SSC - Sultan Corporation

Today's announcement must have sparked a bit of interest again... Wasn't much of a story though, i guess it just showed that the balls moving. Nice to get a boost on such a shocking day.

(BFS Commences at MB Project in Montenegro)

 

[adobee]

Re: SSC - Sultan Corporation

CR completed 2.2c which I think is good news ..
Announcement refers to new acquisitions .. This could be very positive in my opinon.. Management has shown they have a good ability to get projects with great potential at good prices...

 

[adobee]

Re: SSC - Sultan Corporation

No news from the company on it as yet but its in the media and Derek is in Africa ...
http://www.theaustralian.com.au/bus...-phosphate-prize/story-e6frg9ex-1226071556147

Sultan Corp chases phosphate prize
EXCLUSIVE Robin Bromby From: The Australian June 08, 2011 10:20AM

ADD another country to Australian mining's march into sub-Saharan Africa -- and another commodity.

We can report exclusively that it is understood that junior Sultan Corp (SSC) -- which two years ago was thwarted in Mali when it went after a similar project there -- is now on the trail of a phosphate project in the small West African state of Togo. There is word in the Togolese capital, Lome, is that Sultan?s CEO Derek Lenartowicz has already begun talks with Mines Minister Damipi Noupokou.

The company is cashed up after a recent $5.4 million capital raising. It is drilling a gold project, has a NSW base metals project well advanced and is now conducting a bankable feasibility study on a zinc-lead project in Montenegro.

Going into phosphate -- if the deal comes off -- will propel Sultan into the bull market story of the looming world food crisis in which fertilisers will become a key weapon. Sultan has a market capitalisation of about $29m and its shares -- of which there are 1.4 million on issue -- have been trading recently around 2 cents.

While poor and with just 6.7 million people, Togo is the world?s fourth largest phosphate producer. The minister recently announced plans to triple production of the fertiliser feedstock with Societe Nouvelles des Phosphates, the state- owned company that manages the industry, has invested $US62m ($57.9m) in mining and excavation materials. There are also plans to build a plant to produce phosphoric acids or fertilisers - a move which would dramatically reduce shipping costs for Togo-based phosphate miners.

Togo has an estimated 60 million tonnes of phosphate reserves. The International Monetary Fund has urged reforms for the phosphate industry.

This is just the latest development for a fast changing Australian phosphate and potash sector. In New York, Global X Funds has launched the world?s first fertiliser exchange-traded fund -- in which Australia?s Incitec Pivot (ICP) is the third largest investment -- and now an Indian state-owned company has signed the initial agreements to participate in a Northern Territory phosphate deposit.

It was revealed last week that India?s National Minerals Development Corp will, as has been rumoured, work with Minemakers (MAK) to conduct a feasibility study into the latter?s Wonarah project which has a resource of 1.26 billion tonnes at 12 per cent phosphate.

India and China between them account for 40 per cent of world fertiliser use but India?s grain yields are still less than half those of crops in the US. Recent figures issued by the Indian government show the demand for fertiliser in the country is higher than ever.

However, Indian newspapers have been reporting in recent weeks there could be a fertiliser shortfall ahead of the summer sowing season. The product most affected world demand and disruptions in North Africa, diammonium phosphate, is also likely to keep growing in price.

India therefore faces more food price rises, a growing problem in the country. The country?s food price inflation is now running at 8.55 per cent.

National Minerals Development has the right now to earn a 50 per cent stake in the Wonarah project. It will reimburse Minemakers for past spending on the project.

The longer term plan is for the two companies to work together to produce downstream fertiliser products including diammonium phosphate.

 

[warennie]

Re: SSC - Sultan Corporation

Trading halt as of 1:54pm.
Thanks for the heads up, i assume this will be the announcement.

[Trading halt in relation to recent media speculation regarding a potential project]

 

[adobee]

Re: SSC - Sultan Corporation

Announcement..
Not exactly the locked in deal I was hoping for.. Have a few more weeks to wait now..
Could be a company maker if it comes off..


SULTAN CONFIRMS THAT IT HAS BEEN SELECTED TO TENDER ON THE DEVELOPMENT OF A PHOSPHATE DEPOSIT IN TOGOSultan Corporation wishes to confirm that it has been invited by the Government of Togo to participate in their selection process to identify a strategic partner to develop the phosphate project. This announcement is in response to a recent media article, until now, Sultan has been able to maintain confidentiality throughout this process. The company is submitting its tender proposal on 30 June 2011.
The project is located in Togo (West Africa) near the capital Lome. It is situated very close to infrastructure including a purpose built port facility which is approximately 20 km to the south-west. The port is capable of handling 4.5 MTA of rock phosphate. The port has been regularly maintained and is in good operating condition.
The project has an exploration target size of 2.0 to 2.1 billion tonnes of mineralization at a grade ranging from 14.5 to 15.5% P2O5*. There are discrete zones in the order of 80-100 million tonnes having average grades in the range of 18-20% P2O5.
(* The potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. It is stated above as a range of tonnes and grades of mineralized material. It should be read in conjunction with the accompanying notes 1 and 2 at the bottom of this announcement).
During the past three years Sultan has addressed the following issues:
Geology
Sultan has independently confirmed the deposits size, location, grades, strip ratios and other factors which would impact on the viability of the mine.
Commercial Analysis
Sultan has performed a full commercial analysis of the project which included sensitivity analysis and the analysis of various development options.
Business Plan
Sultan has developed a business plan which essentially consists of two development stages.
1 To develop the mine plus the beneficiation plant capable of producing 5 MTA of rock phosphate; and
Page 2
2 To add value by constructing and operating a phosphoric acid plant which will utilise part of the produced rock phosphate as feed.
Ministerial Visit
During February 2011 Sultan was visited by a delegation including the Togolese Minister of Mines and the Economic Advisor to the President of Togo. The purpose of this visit to Sultan’s Perth Offices was to assess Sultan’s managerial, technical and financial ability to implement its plan. The visit achieved all of its stated objectives. The visitors met with Western Australian Ministers responsible for Finance, Mining, Energy, and the Environment. Meetings were also held with Australian mining industry leaders and Sultan’s financial backers. Visits to some of the projects in which Sultan personnel were previously involved were also arranged.
Sultan still holds the view that this information concerns an incomplete proposal or negotiation and had it remained confidential there would have been no requirement for Sultan to make any statement at this time. Sultan is not the only corporation which is seeking to partner the Togolese Government in developing this project.
Over the past five years Sultan Corporation has held the belief that phosphate as a commodity will continue to grow in importance as the worldwide demand for food production increases. Sultan MD Derek Lenartowicz said “The Togo project, if Sultan is successful in joining the Government of Togo as a strategic partner, would be another step towards achieving Sultan’s goal of playing a significant role in the exploitation of this important resource”.
Sultan recently raised over $5million in a capital raising which gives the company sufficient funds to pursue such a strategy and Sultan continues to build the blocks to deliver fast growth to the company going forward, including additional management experience, strong relationships, a growing funnel of potential projects and above all a dynamic strategy.
Derek Lenartowicz
Managing Director
Page

 

[warennie]

Re: SSC - Sultan Corporation

What was with the high open?
The volume seems to suggest perhaps the traders who bought into SSC after reading the news before the trading halt sold out this morning. Had considered doing the same.

 

[adobee]

Re: SSC - Sultan Corporation

http://www.youtube.com/watch?v=JvLUbbFSIto

Your money your call..

MAL from Sydney

 

[pixel]

Re: SSC - Sultan Corporation

so they submitted the tender yesterday.
Today's chart looks like punters are buyingthe rumour. Does anybody know when the decision is due? Could be a company maker - or breaker
I bought a lottery ticket: stop 1.7; targets 2.4, 3.2, 4.2c

 

[warennie]

Re: SSC - Sultan Corporation

Could be a company maker - or breaker
View attachment 43463

Why does everyone think getting knocked back on our tender application will be so harmful? Every since its leak and announcement on the 7th/8th its gone down (due to financial conditions and lack of risk appetite) It was at 2c before the announcement, fell to a low of 1.4c and has just returned to 1.9 at todays close. I cant imagine anything would have been different if it was never even discussed. I feel there's upside, very little downside as everything else remains constant. I dont really think the market is factoring in Togo to the SP, especially as the market knows its not a sure thing.

 

[pixel]

Re: SSC - Sultan Corporation

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01210481

Trading will resume tomorrow, Thursday. morning.
Do they have enough cash for further drilling at Elsienora? Shall wait and see how the Market reacts.

 

[Kremmen]

Re: SSC - Sultan Corporation

Seems to be a leap of activity since the renaming to Balamara Resources.

 

[springhill]

BMB has been tightened up with a 10:1 share consolidation, leaving 192m FPO shares on issue.
Latest information from Bogdan.
http://www.asx.com.au/asxpdf/20120704/pdf/4277bb3qysgtzt.pdf
Balamara Resources Limited (ASX: BMB) is pleased to announce that the third hole at its Bogdan Project in Poland has intersected a potentially significant zone of copper mineralisation.In the latest hole, copper mineral species have been identified visually in core over an 8.3 metre interval extending from 350.5 metres to 358.8 metres below surface.
Chemical assay results will be required to determine the significance of this intersection. However, there is a total intersection of visible copper minerals of 8.3 metres and this is relatively stronger at the top for an interval of approximately 3 metres.
The third hole is approximately 3.15km west from the first hole drilled (see Diagram 1 below). Hole 3 is also the most western hole drilled to date and the hole closest to the adjacent world-class copper-silver operations of KGHM.
Balamara has sent the samples from Hole 3 to the laboratories for assaying and is awaiting assay results for Hole 2, which was completed one month ago. Current assay turnaround time is 5-6 weeks.
After the success recorded with the first two holes at Bogdan, Balamara has decided to expand the exploration programme in addition to the four holes which are part of the current programme. The Company is targeting a maiden JORC-compliant resource on the back of the expanded programme.

Further points of information for BMB.
•Final stage tender submission for a substantial phosphate project in Togo
•Existing quotation on ASX and intention to dual list on AIM – raising £3.5m to £4m to accelerate exploration & development and fund potential asset acquisitions

Top 20 shareholders Approx.48%
Directors’ shareholding Approx. 23%
Cash as at 31 May 2012 A$2.7 million



KEY PROJECTS
MONTY ZINC-SILVER-LEAD PROJECT (MONTENEGRO)
•100% owned
•Acquired in 2010
•Currently at DFS stage
•Metallurgical results by Q3 2012
•Targeting production by H1 2014*
•Second 3,000m drilling programme commenced May 2012 at higher grade deposits
•Targeting higher grade, higher tonnage and reclassification (Inferred to Indicated) for existing JORC resource
•Additional two exploration holes commenced at Brskovo deposit to test extent of high grade silver zone
•High grade intersections to date include:
•5.5m (181.5m to 187m) at 507.7 g/t Ag, 4.01% Zn, 2.83% Pb and 0.28% Cu
•8m (147m to 155m) at 129.7 g/t Ag, 2.45% Zn, 1.50% Pb and 0.29% Cu
which included 3m (147, to 150m) at 337 g/t Ag, 4.05% Zn, 2.74% Pb and 0.61% Cu

BOGDAN LEAD-COPPER-SILVER PROJECT (POLAND)
•85% owned
•Immediately adjacent to one of Europe’s largest copper and silver operations (KGHM)
•First two holes drilled indicate extension to KGHM mineralised system
•Further 2 holes anticipated by Q3 2012
•Planning phased18 additional holes
•Immediately adjacent to one of Europe’s largest copper and silver mines (KGHM Polska Miedz):
•KGHM Ore Resource* = 1.16bn tonnes Cu (2.08%) and Ag (59g/t) for 24Mt copper and 69kt contained silver
>570,000T Cu & 40m oz Ag in 2011
>US$7bn market cap on Warsaw Stock Exchange

PHOSPHATE PROJECT (TOGO) – UNDER TENDER
•Substantial Phosphate Project
•A potential exploration target size of 2.0 - 2.1 billion tonnes at 14.5-15.5% rock phosphate (P2O5), with an estimated 80-100 million tonnes at 18-20% (P2O5)
•Key Advantages:
•Shallow mineralisation (circa 30 meters for open pit mining)
•25kms from purpose-built port with spare capacity and 30kms from capital city
•Infrastructure in place at target site
•Considerable drilling to date – historic data available
•Tender process underway for strategic mining partner
•One of five through to final stage of tender process
•Estimated completion of tender process 3-6 months




Does anyone know about the guys running this?

 

[pixel]

Does anyone know about the guys running this?

see here: http://investing.businessweek.com/research/stocks/people/person.asp?personId=11538938&ticker=SSC:AU

I've met Derek a few times and got the impression he knows his minerals.
(Some may however hold their past VRE woes against him.)
And when you read the names of his fellow directors, you'll understand that some of them would also feel at ease in the regions in which BMB is drilling.

 

[springhill]

BALAMARA FINDS FIRST COPPER-DOMINANT ZONE AT BOGDAN WITH MINERALISATION CONFIRMED OVER 3.2km

Balamara Resources announce assay results from the third hole (Hole B4) drilled at its Bogdan Copper Project in Poland have revealed for the first time a more extensive copper-dominant zone, providing a priority target for follow-up drilling.
At the same time, results from the second and third holes (Holes B2 and B4) have confirmed continuous copper-silver-lead mineralisation on Balamara’s Bogdan tenement extending over a strike length of approximately 3.2km.
This provides clear evidence that the mineralised structure known as the Kupferschiefer (“copper shale”), which underpins the adjacent world-class mining operations of KGHM Polska Miedz, extends across the Bogdan tenement.

The material intersections from Hole B4 are as follows:
Lower copper zone:
349.5-358.0 8.5 metres at 0.36% copper (Cu), 11.6 g/t silver (Ag)
Including 354-355.3 1.3 metres at 0.60% copper (Cu) and 13.5 g/t silver (Ag)
Upper lead zone:
343.0-349.0 6 metres at 0.73% lead (Pb), 4.6 g/t silver (Ag)
Including 346-349 3 metres at 0.99% lead (Pb), 6.0 g/t silver (Ag)

 

[pixel]

The recently announced "Strategic Partnership" with Centurion could provide another boost to the sp.
I am already back on board and adding some more in expectation of more upside.



Targets as per chart; stop loss currently at 10c (close below basis).

 

[System]

On May 6th, 2015, Balamara Resources Limited (BMB) was removed from the ASX's official list at the request of the Company, in accordance with Listing Rule 17.11.