EXM - Excalibur Mining Corporation

[Wysiwyg]

Another good sign is that the options have picked up even more than the shares. Sellers just aren't selling them much any more, so buyers are having to pay more.

:topic Kremmen maaaate, you MUST have seen hot gossip, Karla, sid snot etc.
Hot Gossip ( the gals) were it for me as a school kid, in fact just recently found them on You Tube.

 

[mick2006]

one thing of interest for EXM holders is the re-float of the old Giants Reef (GTM) Tennant Creek interests which lie just west of EXM's Tennements.

The company that now holds those assets is Emmerson Resources and it is due to list in about a week (17th December), one thing of importance is that Emmerson will hold the old GTM gold processing plant which is not that far from all EXM's tennements.

Assuming that EXM does start to hit significant targets a toll treating agreement with Emmerson may lead to some very early production/profits. Much like the significant profits AAR are making currently toll treating their high gold grade ore.

If the market could see EXM as a near term producer it would certainly hasten the re-rating of the stock.

 

[Yeti]

Lets hope they find another 12000 g/t drill hits Mick. Correct me if I am wrong but that is 1.2kg of gold per tonne. That is a gold nugget not a drill sample.

Tanami looks good to with walk up targets of 119 g/t.

This reply a bit a late Bushman, but I only just noticed your post. 1Kg=1000g. If you thought 1.2kg was a gold nugget, what would you call 12kg?

 

[AussiePaul72]

one thing of interest for EXM holders is the re-float of the old Giants Reef (GTM) Tennant Creek interests which lie just west of EXM's Tennements.

The company that now holds those assets is Emmerson Resources and it is due to list in about a week (17th December), one thing of importance is that Emmerson will hold the old GTM gold processing plant which is not that far from all EXM's tennements.

Assuming that EXM does start to hit significant targets a toll treating agreement with Emmerson may lead to some very early production/profits. Much like the significant profits AAR are making currently toll treating their high gold grade ore.

If the market could see EXM as a near term producer it would certainly hasten the re-rating of the stock.

Thats a very interesting piece of info Mick ..... and certainly may provide EXM with another handy option to initially speed up time to become a producer.

Out of interest, do you know much about Emmerson Resources and the tenements they have. I was just wondering what sort of potential these tenements have considering you mentioned that they are only just west of where EXM are?

 

[mick2006]

not sure how Emmerson's tennements stack up against that of EXM's, only that they have the old GTM Chariot Gold Mine which may after a bit of resource drilling be able to be brought back into production.

I would still favour EXM at the moment as they have all the exploration momentum behind them, rather than Emmerson who have been dedicating all their time getting the company listed.

 

[mick2006]

with the likely release this week of the highly anticipated Tennant Creek gold results, few companies are likely to hold such focus in the spec arena as EXM will this week, I'm sure it is already on most traders watchlists already.

It has already been widely discussed the prospectivity of the Tennant Creek area so I won't bore readers with the details again (instead I will include links for those not familar with the EXM story), what will be of interest is how EXM trades before/after the results are released.

It is important to put the first set of results into context they are only 20% of the current drilling campaign so it will only give us a taste of whats to come (3000m of 15000m).

Would be interested to hear holders/potential holders/traders views on how they think the EXM story will play out?

What will be considered an encouraging start to the drilling campaign?

Should we be encouraged the company is organizing a 3rd drill rig?

Is it a positive sign the company already intends to expand this current campaign for the next 12-18 months which will include continious drilling/results?

Does the fact the company has put all other projects on the backburner signal their extreme confidence in what will be discovered?

Who out there thinks they will hit some spectacular grades/ in time find that extra 2 million oz's?

Does the fact Emmerson Resources are re-listing with the former Giants Reef assests change the game for EXM in terms of early toll treated production?

What is a realistic short term/longer term shareprice target?


There is no doubt EXM has alot going for it at the moment, the lure of exceptionally high gold intercepts, a possible large reserve upgrade, the chance for near term production.

With so many questions about to be answered, we are entering a very exciting time for EXM, enjoy the ride boys and girls cause we have no idea where it may take us!!!


Below are a few links and a recent resource stocks article for people that my not know the EXM story yet.


AGM Presentation

http://www.excaliburmining.com.au/IRM/Company/ShowPage.aspx?CPID=1103&PageName=AGM Presentation - November 2007

Board Room Radio Interviews

http://www.brr.com.au/event/EXM/1849/35466

http://www.brr.com.au/event/EXM/1849/32111

http://www.brr.com.au/event/EXM/1849/22411



Excalibur draws on history

Thursday, December 06, 2007

LIKE King Arthur drew the sword from the stone, so Excalibur Mining has unsheathed old data from its Tennant Creek project in its quest to release more gold. By Mark Mentiplay - RESOURCESTOCKS*

Excalibur Mining believes a year extensively re-examining 30 years of exploration data at its Tennant Creek gold project in the central Northern Territory may provide the key to releasing another 2 million ounces.

The company has launched a 15,000-metre drilling program that is targeting a significant gold resource upgrade of potentially 2 million ounces among the remnants of two major Tennant Creek mines and outlying deposits that have already produced that much.

The company's geological team, which includes three senior geologists, expects to have a new resource estimate completed at the end of the drilling program that will hopefully add significantly to the current JORC-compliant indicated and inferred 2.3 million tonnes at 7.12 grams per tonne gold for 532,244 ounces of contained gold.

Excalibur has also recently acquired the gold and precious metal rights to a prime 12,000-square kilometre tenement package, including an extensive Newmont Mining database, in the Territory's 11 million ounce Tanami and Marla regions. The company has already received several farm-in approaches.

However, Excalibur Managing Director and well-known former Perth stockbroker Alex Bajada told Tennant Creek is the company's prime focus.

The company's prospects there include the famous Noble's Nob and Juno gold mines.

Noble's Nob, one of the largest open-cut gold mines in Australia in its day, produced 1.12Moz from 1939-1996, while Juno yielded some 840,000oz when run by Peko between 1967-1977 and had an average grade of 57gpt.

Historic underground diamond drilling at Juno � a priority target for Excalibur � has returned massive grades, including 1.53m at 12,883gpt from 16.7m within a wider intercept of 670gpt over 32m from 12.5m. Other noteworthy historical hits included 6.7m at 833.6gpt from 24.4m and 36m at 210gpt from 19.5m.

The new program includes 10,000m of reverse circulation and 5000m of diamond drilling to test 12 targets thrown up by the past year's research and re-evaluation of 30 years of exploration data.

"The results are very exciting and this drilling program represents the most significant attempt to further explore one of the richest gold producing areas in Australian history," Bajada said.

"The drilling will be in historically high-grade regions to infill gaps in existing drilling and look more closely at some areas we believe were missed.

"We think we've got potential for about two million ounces."

Bajada acknowledged the current program is a long way from proving up that sort of asset.
He expects it will take several months and be followed soon after by a new resource estimate.

"We plan to drill the hell out of this place over the next 12 to 18 months to better define the resources and I'd be pretty disappointed if we didn't get up to the two million ounce level. We have the real expectation that this is a world class asset," he said.

The RC drill rig is on its way to site, with the diamond rig expected onsite soon. The company is negotiating for a third rig to accelerate the drilling program.

Initial targets include high-grade multiple pods at Juno and Noble's Nob, and nearby satellite deposits such as Rising Sun and M10; any of which could produce early cash flow.

Juno contains the most ounces of the three resources currently defined with a JORC-compliant indicated resource of 321,400oz from 952,000 tonnes at 10.5gpt, followed by M10 with a JORC-compliant inferred resource of 1.2 million tonnes at 5gpt for 193,000oz and 18,000oz at Noble's Nob's with a JORC-compliant inferred resource of 174,000t at 3.2gpt.

The Juno deposit is a steeply plunging pipe of gold mineralisation with some spectacularly high gold grades. Previous drilling encountered high-grade mineralisation on the south side of the east-west orientated stopes and the area will be a prime new drilling target.

M10 lies underneath Juno and was intersected by previous diamond drilling from the underground workings. This will be further drilled to confirm and infill previous intersections, expand the resource and investigate a possible link to nearby Juno West.

Noble's Nob was worked by underground methods and later as an openpit down to 100m.

Bajada said there is geophysical target down plunge to the east of Noble's Nob that has received little or no drilling in the past and will be diamond drilled in the current program.

There are also excellent new targets a few hundred metres east and west of the openpit.

Excalibur's Tennant Creek project is conveniently close to infrastructure being near the Alice Springs-Darwin rail line, about 8km from the Tennant Creek township and within a power grid laid down for past operations. The company also has a large workshop, office and core storage facilities in Tennant Creek.

Excalibur is also carrying out an extensive electromagnetic survey over the Brown's Range South area within its recently acquired Tanami project in the Northern Territory, west of Tennant Creek.

This work will be completed in conjunction with Palace Resources, which holds the uranium rights.

There has been scant exploration in these regions and limited drilling, so the results of the electromagnetic work and evaluation of the Newmont data, including surface samples grading up to 119gpt, will identify targets expected to be drilled soon.

Bajada said the recent opportunity to take a strategic stake in the Tanami region where more than 11Moz of gold has been discovered in mines such as Callie, Tanami, The Granites and Dead Bullock Soak by the likes of Newmont, Falconbridge, BHP Billiton and Anglo American, was too good an opportunity to miss.

The company is evaluating several farm-in approaches on the ground and the early money is on some sort of joint venture.

Excalibur has also identified targets on its 700sq.km Yilgarn uranium project where it is looking for large, low grade, near surface deposits. The acquisition is still subject to shareholder approval.
"These two projects, particularly Tanami-Marla, give us a range of exploration and development options in this market," Bajada said.

"Single project companies are hard to rationalise, but the focus is on Tennant Creek."

The company has $3.5 million in the bank, which is more than enough to cover drilling over the next 18 months, but is considering a further cash raising, possibly around $7 million, shortly.

* This report, first published in the November 2007 edition of RESOURCESTOCKS magazine, was commissioned by Excalibur Mining

 

[Bushman]

This reply a bit a late Bushman, but I only just noticed your post. 1Kg=1000g. If you thought 1.2kg was a gold nugget, what would you call 12kg?

A very big nugget! My apologies for the arithmetic. To think that I am an accountant too. Maybe I'll put it down to the doctrine of conservatism.

Any near term production capability will give EXM significant leverage to the current historically high gold price. It should then add a premium to the share price which is having a admittedly volatile re-rating as exploration success is factored into the enterprise value of EXM. Cash is king at the moment and with an economic and near term gold mine EXM will be floating in the stuff.

I am catiously optimistic about EXM in the next 3 to 6 months. If they find they find plenty of the hedge against inflation, we should have a good run. If they can prove up near term production, we should have a better run. My major concern is that everyone is betting on near term exploration success being released to the market. If the grades dissapoint, down we go. Investors are worried about exposure to the spec end of town with full year US financials nearly upon us. Having said that, I would rather be in this one at an average price of 3.6c than out of it.

 

[Cor$air]

Hi all, first post here!

Just a few thoughts on how the SP could go post-announcement:

1. Very good -> spectacular results: Probably a very high intraday sp rise with profit taking at some point, retracing to a new support level. What I find exciting with EXM is that if the first results are good then the general mentality will probably be, "wow, and there's still 80% of the target remaining!" This fact alone should see steady gains as the results trickle in.

2. Average -> Unspectacular results: There is probably the danger that this will see a short-term retracement, even if average grades are found. EXM has been hyped so much that anything less than stellar results could see some move on to other plays in the short-term until the lead-up to the next ann. Depending on one's strategy, this could also present a great opportunity for averaging-in at a lower price, still holding a company with huge potential.

3. Dismal results: As above in 2. with a greater retracement and even better buying opportunity.

I think the beauty of EXM is that it will probably take two rather average results to turn the market sour, so even if the first grades are nothing to write home about, it will be hard to lose too much, for those who hold on the lead-up to the 2nd lot of results.

Now I've already taken 40% on my initial parcel bought in the mid-twos and re-bought half a mil a couple of weeks ago, so will be keen to take some more profits if it gets near 5c then hold the remainder for the good ol' multibag potential.

 

[prawn_86]

Cor$air,

Welcome to ASF

In the future can you please provide some analysis as to why a lower price would provide a good entry, and to why you think this co (or any) has multibagger potential.

Also, we try to deal with facts and evidence here at ASF, so posting 'what could happen' probably isnt appropriate. A meteorite "could" hit the earth and we all die before anything else happens

 

[Cor$air]

Cor$air,

Welcome to ASF

In the future can you please provide some analysis as to why a lower price would provide a good entry, and to why you think this co (or any) has multibagger potential.

Also, we try to deal with facts and evidence here at ASF, so posting 'what could happen' probably isnt appropriate. A meteorite "could" hit the earth and we all die before anything else happens

Points noted, prawn_86!

Though I thought i explained the reason a lower price would possibly be a good entry point, i.e. that there would still be 80% of the target remaining and plenty of scope for higher grade returns.

In any case, I'll try and steer clear of too much prophesising

 

[juw177]

Just a few thoughts on how the SP could go post-announcement:

There is a chance the SP will tank on the news announcement. I hold too, but I just thought I would warn all the newbies out there.

Of course, the share price can also go way up. But looking at recent track record of people selling the fact, it's good to be careful.

My own theory is this: A good way to gauge the news reaction is by how many people post on the thread at HotCopper leading up to the announcement. The more posts at HotCopper the more chance the share price will get smashed on the news. And EXM has been VERY popular at HC lately which MAY suggest the news has been factored into price.

 

[mick2006]

good to see the buy side building again above the 4.3c level, it looks like we are currently having one of those good old fashion standoffs between th 4.4-4.5c with no-one willing to break either way, with EXM being one of those real momentum stocks just a little volume either way could send this one running again.

should remain firm until we start hearing any news out of Tennant Creek, also watch for the rotation inside the spec gold sector with money churning in and out of companies like BMO,IIG,RAU,PRE,EXM depending on upcoming newsflow and momentum.

 

[nowork]

Looks like a little profit taking at the moment, back to 4.1c

I think it should rebound this afternoon somewhere near the previous close.

Hanging out for the results to see how the share price will go.

 

[Rocket man]

I would have expected a higher sp that .042 at this stage of the game seeing results are imminent .. not that it matters .. just interesting .. trading volume seems low last few days

eagerly awaiting results ...

 

[mick2006]

I think people got a bit spooked yesterday when someone dumped a 5 million capping order at 4.5c and it certainly halted its march forward (now that order has been pulled it opens it up again for another move forward)

 

[yuyry002]

was expecting abit higher sp(4.5) starting this week. well it didnot happen.coupla mil shares got filled at 4.3 and another 2 mil at buy side.maybe its starting to move.

 

[wildmanchris]

Looks like a couple of big trades just clicked over - it seems like there a quite a few patient traders on this one - waiting to see where it goes.......

 

[Bushman]

Its another assualt on 4.5c. The trader resistance is still strong but with another 21m sold, how many are left in this range? It feels a bit like trench warfare this sp movement. Not matter how many the buyers and sellers throw at 4.2 to 4.5c, there is always another buyer, another seller to ensure the stalemate continues. But it is now 75m shares sold above 4.2c. Cannot be too many left.

 

[zt3000]

Its another assualt on 4.5c. The trader resistance is still strong but with another 21m sold, how many are left in this range? It feels a bit like trench warfare this sp movement. Not matter how many the buyers and sellers throw at 4.2 to 4.5c, there is always another buyer, another seller to ensure the stalemate continues. But it is now 75m shares sold above 4.2c. Cannot be too many left.

lol its very funny watching the depth on this one .. big cappers following the price down and up ... lol ... dunno what they trying to achieve except maybe some accumulation lol ..

free entertainment lol

 

[wildmanchris]

I have been reading a bit about EXM - and have come to the conslusion it can go two ways. Obvious really.

I cant work out why people are relating it to KAL, and then run that it had its results when the market cap of KAL is already less than half of EXM.

Can anyone shed any light on that side of things? EXM have a bigger drill area?