Sean K
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Maybe because it's oversold, or maybe it's going back to true value. I don't know enough about the company, just been watching the chart really.Caliente said:
FFM - FireFly Metals
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The announcement was what was expected from the first hole. There wasn't anything unexpected so once again its the punters who were expecting a million tonnes of copper in one hole that made price go down. I'm holding....MOX is presenting in Adelaide on Friday so that should be interesting.
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LifeisShort said:
Yes, but surely MOX will need >>1Mt Cu at those depths to sustain the recent bulging SP?
Consider also that anything under 2.5% Cu equivalent in terms of grade and it stands little chance of making an underground mine, so they will need 40Mt+. And as far as grade goes they are 1/25th of the way there...
DOn't mean to MOX ya but..
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Ken said:
Maybe...I prefer to invest in exploration cos that are actively exploring for potential large tonnage, high grade mineral resources, less than 500 metres beneath the earth's surface.
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Hi
Does anyone know when MOX is due to report the assay results from Holes 2 & 3?
I thought it should have been sometime last week.
Cheers
Does anyone know when MOX is due to report the assay results from Holes 2 & 3?
I thought it should have been sometime last week.
Cheers
Caliente
Black Gold!
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uninspiring assay results. MOX got a hammering today.
However, this is only one hole, does a buying opportunity loom ....?
However, this is only one hole, does a buying opportunity loom ....?
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Caliente said:
They seem to be having a few of these
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Hasn't left anyone breathless... but what's that now? Three or four down, another sixteen to go?
They've got the area by the looks of things, it's just a matter of finding where x marks the spot to start ripping some of this stuff up! A case of doing it before they churn through their PE ratio and make it a PEar shaped ratio!
Come on Michael, show me the money *shakes fist in air*
They've got the area by the looks of things, it's just a matter of finding where x marks the spot to start ripping some of this stuff up! A case of doing it before they churn through their PE ratio and make it a PEar shaped ratio!
Come on Michael, show me the money *shakes fist in air*
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Do you think this is a good buy at these current prices?
Apparently this company may have struck the "big one"
Apparently this company may have struck the "big one"
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Went balistic today - up over 50% on basis of results from drilling on tenements to the north - see explanation to ASX on price rise today
yesterday ex-entitlement to 1:10 / 70c rights issue as well as announcement re targets for drilling at punt hill with rights monies.
few days again ann re more uranium tenement applications
yesterday ex-entitlement to 1:10 / 70c rights issue as well as announcement re targets for drilling at punt hill with rights monies.
few days again ann re more uranium tenement applications
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Teck Cominco finds 900m of 2% copper
TECK Cominco has hit one of the most spectacular drill intersections in Australian mining history at its Carrapateena project in the South Australian outback.
In a quarterly report released yesterday, the Canadian miner revealed its Hole 50 intersected 905 metres of mineralisation with an average copper grade of 2.1 per cent and an average gold grade of 1 gram per tonne.
"I've never been involved in a hole better than this," said Teck's general manager of Asia-Pacific exploration, Wayne Spilsbury. "It might be the best drill hole Teck Cominco has drilled in the 100-year history of the company."
He said the mineralisation started at a depth of 487 metres and went down to a depth of 1.392 kilometres, meaning it would be an underground mine development. The deepest 94.4 metres of Hole 50 averaged 3.32 per cent copper and 0.6 gpt gold.
"It's getting down there," he said. "It's not deep by Olympic Dam standards … [but] it does show these kinds of systems have great depth."
Teck doesn't actually own the project, which was discovered after South Australian prospector Rudy Gomez's private company RMG Services sank an extremely lucky drill hole in 2005.
But the Canadian miner has the right to buy it from Mr Gomez at two-thirds of its market value as determined by an independent valuator, after making periodic cash payments totalling $32 million and completing 75,000 metres of drilling.
Mr Spilsbury declined to comment about Teck's expectations of a final price when asked if it could reach into the hundreds of millions.
But he said the company had spent $15 million on drilling so far and expected to complete the 75,000 metre requirement by the middle of the year.
Mr Spilsbury said the drill holes were at 100 metre spacings, which would at best make it an inferred resource - the lowest category of confidence.
At this point, Teck isn't prepared to say Carrapateena will definitely be a mine.
But Mr Spilsbury was willing to say this: "If it does become a mine, it will be one of the largest copper mines in Australia."
Shares in Monax Mining, which is drilling at a prospect 35 kilometres south of Carrapateena, soared 59 per cent on the news to close 43.5c higher at $1.175.
TECK Cominco has hit one of the most spectacular drill intersections in Australian mining history at its Carrapateena project in the South Australian outback.
In a quarterly report released yesterday, the Canadian miner revealed its Hole 50 intersected 905 metres of mineralisation with an average copper grade of 2.1 per cent and an average gold grade of 1 gram per tonne.
"I've never been involved in a hole better than this," said Teck's general manager of Asia-Pacific exploration, Wayne Spilsbury. "It might be the best drill hole Teck Cominco has drilled in the 100-year history of the company."
He said the mineralisation started at a depth of 487 metres and went down to a depth of 1.392 kilometres, meaning it would be an underground mine development. The deepest 94.4 metres of Hole 50 averaged 3.32 per cent copper and 0.6 gpt gold.
"It's getting down there," he said. "It's not deep by Olympic Dam standards … [but] it does show these kinds of systems have great depth."
Teck doesn't actually own the project, which was discovered after South Australian prospector Rudy Gomez's private company RMG Services sank an extremely lucky drill hole in 2005.
But the Canadian miner has the right to buy it from Mr Gomez at two-thirds of its market value as determined by an independent valuator, after making periodic cash payments totalling $32 million and completing 75,000 metres of drilling.
Mr Spilsbury declined to comment about Teck's expectations of a final price when asked if it could reach into the hundreds of millions.
But he said the company had spent $15 million on drilling so far and expected to complete the 75,000 metre requirement by the middle of the year.
Mr Spilsbury said the drill holes were at 100 metre spacings, which would at best make it an inferred resource - the lowest category of confidence.
At this point, Teck isn't prepared to say Carrapateena will definitely be a mine.
But Mr Spilsbury was willing to say this: "If it does become a mine, it will be one of the largest copper mines in Australia."
Shares in Monax Mining, which is drilling at a prospect 35 kilometres south of Carrapateena, soared 59 per cent on the news to close 43.5c higher at $1.175.
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Well I'm doing one of those very high risk, all or nothing plays again
Bought some MOXO $1.20 31st Dec 07 Options
The way I figure MOX has 6months to do more drilling and find another Carrapateena type intersection,
If they do (HIGHLY UNLIKELY) then this could be another CDU and the shares could race to who knows even $10 (HIGHLY UNLIKELY)
The most likely outcome is they won't find anything and the opies I bought will expire worthless in 6 months time
So while this is a VERY VERY VERY HIGH RISK PLAY it offers phenomenal upside,
But note I have tried this with a few plays before, everytime I have lost
Did I mention its Super Risky bordering on stupidity?
DYOR
Bought some MOXO $1.20 31st Dec 07 Options
The way I figure MOX has 6months to do more drilling and find another Carrapateena type intersection,
If they do (HIGHLY UNLIKELY) then this could be another CDU and the shares could race to who knows even $10 (HIGHLY UNLIKELY)
The most likely outcome is they won't find anything and the opies I bought will expire worthless in 6 months time
So while this is a VERY VERY VERY HIGH RISK PLAY it offers phenomenal upside,
But note I have tried this with a few plays before, everytime I have lost
Did I mention its Super Risky bordering on stupidity?
DYOR
