GBM - GBM Gold

[Firdy]

Re: GBM - Greater Bendigo Gold Mines

This equates to 13g/tonne for the initial 500MT of tailings processed - which infers same for the 30,000Mt of tailings stockpiled for processing. (Of course) they are not sure of whether this grade continues throughout - time will tell.

At lease this bodes very well for the Pfahlert system that they are using - they say it recovers microscopic gold down to 10 microns.

Reading between the lines this will lead to an increase in their overall resource once they have have a chance to review their JORC.

At current Cap - GBM is the best value 0f 41 gold producers listed on Goldnerds.

 

[Firdy]

Re: GBM - Greater Bendigo Gold Mines

This should reduce the negative sentiment about Victorian mining:

Transcript from ABc's lateline business

ANDREW ROBERTSON, PRESENTER: Victorian scientists have identified a patch of land between Bendigo and the Murray River which they believe contains $32 billion worth of gold.

They say modern technology should be able to penetrate layers of thick sediment which have made the find almost impossible until now.

Vicky Jardim reports.

VICKY JARDIM: Scientists believe this yellow area north of Bendigo could spark another Victorian gold rush.

DR RICHARD ALDOUS, VIC. DEPT. OF PRIMARY INDUSTRIES: We're estimating that there could be 1,000 tonnes of gold, which is a very large amount of gold, total world production of gold since King Solomon is about 150,000 tonnes, and so that puts it in perspective.

VICKY JARDIM: The scientists at the Victorian Department of Primary Industries made the startling find when they compared the 10,000 square kilometres stretch of land with a nearby area that was geologically similar. They found it was highly probable significant gold deposits were still undiscovered, worth more than $32 billion.

RICHARD ALDOUS: The area is covered by sand and clay and so the old time prospectors couldn't get to that.

VICKY JARDIM: Since the 1850s, more than 2,500 tonnes of gold have been dug up around Ballarat and Bendigo. Scientists and the Victorian Government believe almost half that amount again may still be in the ground in this unmined area.

RICHARD ALDOUS: So these big blue circles are the major old gold mines that were developed in the past. So this is the area where we've defined the 1,000 tonnes.

PETER BATCHELOR, VIC. DEPT. OF PRIMARY INDUSTRIES: Old miners were limited by the geology, their lack of knowledge and modern techniques to extracting gold. But with modern mining techniques we should be able to access it.

VICKY JARDIM: The group hopes the study will encourage gold exploration companies to move into the area.

 

[oldblue]

Re: GBM - Greater Bendigo Gold Mines

Does anyone have any ideas as to why the SP spiked to 13c on 25 August before falling back to 10c?
Doesn't seem to be explained by any movement in the PoG or company announcement.

 

[oldblue]

Re: GBM - Greater Bendigo Gold Mines

Has there been any news from GBM since the operating subsidiary was placed in voluntary administration a couple of months ago?