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The Weekend Financial Review
January 5-6, 2008
Page 35
Smart Money
“20 Stocks to Watch in 2008”
Stories: Nina Wan, Michael Vaughan and Paul Garvey
No 8 Conquest Mining
Sometimes the best way to judge a company is by the company it keeps. In the case
of Conquest Mining, its joint venture partner in the Mt Carlton project in Queensland
is South Africa’s Gold Fields, one of the world’s biggest and most respected gold
producers.
Gold Fields’ recently struck JV with Conquest will see it drill some 150,000 metres of
drill hole throughout the portion of the Mt Carlton project that Conquest hasn’t
explored to date.
Once it’s fulfilled its substantial drilling commitments, it will have earned a 51 per cent
interest in the wider project.
The reason for Gold Fields’ original interest – the Silver Hill deposit – will remain
wholly owned by Conquest, although Gold Fields will have a right to buy a 50 per
cent interest in that deposit once it does its drilling.
Silver Hill is already home to gold and silver resources equivalent to 2 million ounces
of gold, making it one of the more noteworthy greenfields gold discoveries in
Australia.
Conquest is currently trading at a value of $80 to $90 per gold ounce equivalent
identified to date – a price that analyst with Hogan & Partners Tony Lofthouse says
does not do justice to the potential upside set to be evaluated by Gold Fields.
“I cannot work out why Conqest is trading down where it is. The exploration upside is
just enormous,” Lofthouse says.
The company suffered from a volatile share price last year, its shares peaking at just
shy of $1 before ending the year around 60c.
This was on there web site if you havent already seen it
January 5-6, 2008
Page 35
Smart Money
“20 Stocks to Watch in 2008”
Stories: Nina Wan, Michael Vaughan and Paul Garvey
No 8 Conquest Mining
Sometimes the best way to judge a company is by the company it keeps. In the case
of Conquest Mining, its joint venture partner in the Mt Carlton project in Queensland
is South Africa’s Gold Fields, one of the world’s biggest and most respected gold
producers.
Gold Fields’ recently struck JV with Conquest will see it drill some 150,000 metres of
drill hole throughout the portion of the Mt Carlton project that Conquest hasn’t
explored to date.
Once it’s fulfilled its substantial drilling commitments, it will have earned a 51 per cent
interest in the wider project.
The reason for Gold Fields’ original interest – the Silver Hill deposit – will remain
wholly owned by Conquest, although Gold Fields will have a right to buy a 50 per
cent interest in that deposit once it does its drilling.
Silver Hill is already home to gold and silver resources equivalent to 2 million ounces
of gold, making it one of the more noteworthy greenfields gold discoveries in
Australia.
Conquest is currently trading at a value of $80 to $90 per gold ounce equivalent
identified to date – a price that analyst with Hogan & Partners Tony Lofthouse says
does not do justice to the potential upside set to be evaluated by Gold Fields.
“I cannot work out why Conqest is trading down where it is. The exploration upside is
just enormous,” Lofthouse says.
The company suffered from a volatile share price last year, its shares peaking at just
shy of $1 before ending the year around 60c.
This was on there web site if you havent already seen it
