G88 - Golden Mile Resources

[System]

Golden Mile Resources Ltd is an Australian based exploration and development company, with a suite of gold and base metal projects in Western Australia. The Company's initial focus will be the exploration of the Quicksilver Nickel-Cobalt Project in the SW Mineral Field and the Braemore Gold Project at Leonora.

It is anticipated that G88 will list on the ASX during May 2017.

https://www.goldenmileresources.com.au

 

[greggles]

G88 has surged more than 300% this month after announcing a nickel discovery at its Quicksilver project. Up more than 50% today after more good news.

 

[greggles]

Just had to update this thread again. G88 is really moving today. Over 13 million shares have changed hands and the share price has virtually doubled. The close should be interesting.

Great result for shareholders.

 

[greggles]

Golden Mile Resources finished the day at 65c, up 150% on yesterday's close. A total of almost 16.2 million shares changed hands. Monday should be an interesting day for G88.

 

[greggles]

Golden Mile Resources looking to extend Friday's run this morning. Buy side stacking up and sell side looking thin.

 

[greggles]

Up another 60% today after only 45 minutes of trading. Gapped up 10c at the open. 7 million shares have changed hands. With Friday's volume included that makes almost half of the company's shares on issue have traded in two days. There's clearly a lot of optimism about upcoming drill results and the possibility that G88 may have a long way yet to go. Nickel, cobalt and gold.

Anyone have any thoughts about this one?

 

[greggles]

Golden Mile Resources has fired up again today after spending a few days consolidating, finishing the day at $1.21, almost 45% up on yesterday's close. Hard to believe G88 was only 23c a week ago.

Further drilling results are expected to be announced in the near future.

 

[greggles]

It's been a few weeks since I posted in the G88 thread so I thought I'd provide a brief update.

After peaking at $1.27 on 16 November, G88 has drifted down while those who jumped on board after the last announcement waited for further news. Well, it came today but was followed by a decent sell-off. It closed at 64.5c, down 16.77% from yesterday's close of 77c. Today's announcement wasn't quite the spectacular news people were hoping for.

Will be interesting to see where it goes from here.

 

[greggles]

After bottoming out at 45c just before Christmas, Golden Mile Resources is now recovering with most of the gains having been achieved this week.

This morning the company announced that Moving Loop Electro-Magnetic survey at the Quicksilver nickel-cobalt project has highlighted four anomalies that warrant further testing. One of the anomalies in particular is considered to be "category one" and is recommended for immediate drill testing due to the strong and consistent nature of the geophysical response.

G88 is up 11c so far today to 78.5c, a gain of 16.30%. With about 2.4 million shares having changed hands today, volume is higher than it has been since early December. There's quite a bit of optimism surrounding Golden Mile Resources at the moment due to the potential for a sizeable nickel and cobalt deposit to be defined by upcoming drilling.

 

[greggles]

Golden Mile Resources slowly heading back to its late February highs. Pushing through 80c convincingly could send it much higher.

Drilling is continuing on Anomaly 2 at the company's Quicksilver Nickel Project.

 

[greggles]

Golden Mile Resources has settled back into support at 50c. Drilling has been completed at Anomaly One and the results are now pending. I can't imagine this going much lower before the results are announced to the market. If the results are good, we should hopefully see some significant movement to the upside.

 

[Boggo]

Been a while since this has been mentioned.
Popped up in a speccy scan.

(click to expand)

 

[Boggo]

Well, based on the volume in my chart above it seems that someone was in the know that good news was coming today !

Current depth, the gold highlight is the remainder of my order that didn't get filled yesterday.

 

[greggles]

Got this one terribly wrong a few years ago, but note that it is currently in a trading halt "pending an announcement in relation to a proposed acquisition and associated capital raising."

This should be interesting.

 

[Sean K]

Got this one terribly wrong a few years ago, but note that it is currently in a trading halt "pending an announcement in relation to a proposed acquisition and associated capital raising."

This should be interesting.

Crikey, this went down to 2c from 1.27. I suppose if they keep drilling holes they might hit something. I love the second top shareholder's name - Choo Koon Lip. LOL. I'm surprised the Greens haven't made him change his name.

 

[greggles]

The acquisition turned out to be the Yarrambee Project, covering the Narndee Igneous Complex (NIC) in the Murchison Region of Western Australia. The Yarrambee Project comprises tenure of ~816 km² making Golden Mile the largest landholder over the NIC, which is considered highly prospective for Ni-Cu-PGE mineralisation.

Consideration for the acquisition will be:

• The payment of cash consideration of $60,000
• Issuing of 1,000,000 Golden Mile shares to the vendors
• Issuing of 1,000,000 10c Options to the vendors, with an exercise price of $0.10 expiring two years from the date of issue
• Granting the vendors a 1.0% Net Smelter Royalty over the project.

G88 will raise $800,000 before costs via the issue of 16,000,000 shares and 8,000,000 free attaching options. The shares will be issued at 5c and the attaching options will be exercisable at 10c with an expiry date of 23 September 2023.

So is there really something to the Yarrambee Project, or will G88 kick rocks around while burning through their working capital? After a tough few years shareholders are anxous for some results. Hopefully management can deliver, but only time will tell.

Share price is up around 10% so far this morning, so that's a good sign.

 

[greggles]

Fairly upbeat assessment of G88's prospects by Managing Directory James Merrillees in this video. I'll give the company credit for a responsible attitude towards capital raising, but they still need to deliver the goods and find some gold.

 

[greggles]

but they still need to deliver the goods and find some gold.

Looks like they found some:

Grades are average but the mineralisation is relatively close to the surface. The intecept reported from drill hole BTAC187 is wide, which shows promise.

Further drilling results will reveal more about exactly what is beneath the ground at the Wanghi Prospect, but what they have reported today is a good start.

 

[frugal.rock]

14 June 2023

Highest-ever Nickel Grades at Quicksilver

Spectacular Intersections of 28m at 2.34% Nickel & 0.109% Cobalt within the Resource Outline
including intercepts of up to 4.14% Ni and 0.421% Co

Golden Mile Resources Limited (“Golden Mile”; “the Company”; ASX: “G88”) is pleased to announce
that PQ diamond drilling for Stage 3 Metallurgical testwork on the 100% owned Quicksilver Nickel-
Cobalt deposit “Quicksilver” hasintersected very wide zones of high-grade nickel mineralisation within the existing Resource.

Highlights

• 23QDD008: 49m at 1.74% nickel (Ni), 0.071% cobalt (Co) from 30m
o Including 28m at 2.34% Ni & 0.109% Co from 32m depth, with intercepts up to 4.14% Ni
and 0.421% Co; and
o 5m @ 1.6% Ni & 0.026% Co from 73m depth

Other significant intersections include:
o 23QDD006: 61m @ 0.61% Ni from 20m depth, including 1m @ 1.22% Ni from 77m depth
o 23QDD002: 47m @ 0.74% Ni from 18m depth, including 3m @ 1.15% Ni from 54m depth
o 23QDD007: 29m @ 0.65% Ni from 20m depth, including 1m @ 1.25% Ni from 36m depth
o 23QDD003: 13m @ 0.76% Ni from 21m depth, including 1m @ 1.53% Ni from 23m depth
o 23QDD001: 4m @ 1.5% Ni from 29m depth

• Potential for direct transportation and shipping of high-grade zones of the orebody without beneficiation

• High-grade cobalt in 23QDD008 exhibits good nickel-cobalt ratios (~10:1)

• High-grade nickel and cobalt in the oxide zone might be an indication of potential
disseminated nickel mineralisation within the untested primary zone

• Hole 23QDD008 encountered the highest grade nickel and cobalt so far at Quicksilver

Golden Mile’s Managing Director Damon Dormer said
“These are spectacular intersections and the highest nickel grade we have ever encountered at Quicksilver.
The results indicate that we have a significantly higher-grade zone within the overall Resource with the potential of disseminated nickel mineralisation within the untested primary zone.
This may provide an opportunity for direct transportation and shipping of high-grade zones of the orebody to provide early cash flow while constructing the beneficiation plant and accelerating project timelines.”

 

[moreprofit123]

Looks like a share that could sky rock! Thoughts