Sean K
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Yep, he's probably responsible for directing their focus to Copper Hill 2 years ago and then starting to buy Uranium assets and then to sell their most likely money earner. GOOSE!
GCR - Golden Cross Resources
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Hmmmmm some interesting Base Metals for GCR/ARD JV
"Argent Minerals Limited (ASX Code ARD) is pleased to announce the results of the initial round of drilling at its Kempfield silver-lead-zinc-barite project. The highlight of the results was:
Hole AKRC 03, 86 m @ 59.1 g/t Ag and 4.0% Combined Base Metals (CBM) from 4m, including 18m @ 88.9 g/t Ag and 8.14% CBM from 64m."
3.72Mt@ 94.7g/t + 26.3%Barrite + 0.46%Lead + 0.70%Zinc
Argent Minerals Limited may earn a 70% interest in the Kempfield Tenements from Golden Cross Resources Limited by spending $2.745 million by June 2013.
Unfortunately Base Metals are completely out of flavour and form given spot prices atm, so this means little for GCR, what they need to do is push Legend on the Agri front to do something
"Argent Minerals Limited (ASX Code ARD) is pleased to announce the results of the initial round of drilling at its Kempfield silver-lead-zinc-barite project. The highlight of the results was:
Hole AKRC 03, 86 m @ 59.1 g/t Ag and 4.0% Combined Base Metals (CBM) from 4m, including 18m @ 88.9 g/t Ag and 8.14% CBM from 64m."
3.72Mt@ 94.7g/t + 26.3%Barrite + 0.46%Lead + 0.70%Zinc
Argent Minerals Limited may earn a 70% interest in the Kempfield Tenements from Golden Cross Resources Limited by spending $2.745 million by June 2013.
Unfortunately Base Metals are completely out of flavour and form given spot prices atm, so this means little for GCR, what they need to do is push Legend on the Agri front to do something
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Panama Drill results are out...
Initial impressions?
Definitely a shocking market to make a good release...
Initial impressions?
Definitely a shocking market to make a good release...
Whiskers
It's a small world
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This stock sucks.
Just wanted to vent my frustrations.
Here's my 100 chars...........................
I completely understand d_crome.
I sold out, but bought back into a few lower recently, but as TH and kennas mentions above base metals and this management seems to be out of flavour atm.
But having said that I'm thinking copper will turnaround and gold continue to strengthen in the medium term, so I'm watching closely, but atm there are other oppertunities that I see moving sooner.
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This stock sucks.
Just wanted to vent my frustrations.
Understandable if the buy in was around the 3-4c mark. The case for the stock was well described by YT in a number of posts, but the company needs Legend to pick up the ball and run. Sadly can't see it happening really soon so it's hard to see GCR picking itself back up to the heady heights of 4c. For me, a bottom drawer prospect for now........
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Interesting GCR saga
Only a month or so it was like darling hot cake now we are all pessimistic about it
If Legend has any thing to do with it then probably not good for GCR
I understand from an analyst that some strategic decisions are now put off by Legend for more than a month.
Hopefully GCR would be unaffected by that delay
Disclaimer : I do hold GCR
Only a month or so it was like darling hot cake now we are all pessimistic about it
If Legend has any thing to do with it then probably not good for GCR
I understand from an analyst that some strategic decisions are now put off by Legend for more than a month.
Hopefully GCR would be unaffected by that delay
Disclaimer : I do hold GCR
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Interesting GCR saga
Only a month or so it was like darling hot cake now we are all pessimistic about it
If Legend has any thing to do with it then probably not good for GCR
I understand from an analyst that some strategic decisions are now put off by Legend for more than a month.
Hopefully GCR would be unaffected by that delay
Disclaimer : I do hold GCR
Legend is busy developing its own 100% own resources which are very long life. GCR comitted a tragic error doing this JV deal. All of their other projects look marginal at best (that is for development) no reason to get interested here.
Whiskers
It's a small world
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This is what I've been waiting for... putting a bit more effort into maximising the recovery rates to improve profitability.
Slides from the latest presentation to the Excellence in Mining & Exploration.
Copper recovery could increase a little, but potentially the best factor is increasing gold recovery from 55% to 95%, ie doubling gold recovery to 1 million ozs.
Slides from the latest presentation to the Excellence in Mining & Exploration.
Copper recovery could increase a little, but potentially the best factor is increasing gold recovery from 55% to 95%, ie doubling gold recovery to 1 million ozs.
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Mmmm...... 1.3c today - obviously still unloved, may have another look at it again now. $10m will buy you $1B of gold, plus some other minor?? plays like phosphate. Anybody want to form a consortium for a buy out?
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[
I have held this opinion (on the Legend deal) off and on but I am not sure that I agree with it anymore. An 800 million dollar slurry pipeline is a big ask for any company let alone a minnow like this one. On top of that they would need a beneficiation plant (check the grades of their deposits - there is nothing for direct shipping here). Funding this was out of their league and they were wise enough to know it.
So what were Legend looking for in the deal? Well, an 800 million dollar slurry pipeline might have something to do with it. A quick glance at the map suggests the Highland deposit is somewhat closer to the coast than the Legend project, potentially shaving many millions from the project cost. The opportunity to parallel the Century zinc slurry line might ease the way for land access issues rather than breaking virgin ground out to Lady Annie.
If the grades at Highland prove up against the grades at Lady Annie then it would be hard to see Legend going past this as their initial development, especially as they have potential to draw GCR in for an eventual 20% share of funding of mine/infrastructure development. Legend will drill it - they would be crazy not to. Will they develop it? That depends on how good it is. Isn't that the way things should be?
In the meantime GCR get the development options explored at no cost to themselves. They waste no money chasing what may yet prove to be a short lived phosphate price spike. And, for good measure Legend effectively do a bit of free Uranium exploring for them. This deal is not as bad as everyone is making it out to be.
I'm not ready to get excited on Copper Hill just yet - the grades were not good enough for excitement in the bull market so it barely raises interest now. Low grade = high opex = marginal prospect... They have some advantages with power and rail infrastructure already in place right up to the potential mine site which will reduce reduce capex. They are obviously working hard at maximising value out from the resource to offset the higher opex. I'm guessing this one needs the copper bull to be in full swing again...
I'll hold for the Uranium...?
I have held this opinion (on the Legend deal) off and on but I am not sure that I agree with it anymore. An 800 million dollar slurry pipeline is a big ask for any company let alone a minnow like this one. On top of that they would need a beneficiation plant (check the grades of their deposits - there is nothing for direct shipping here). Funding this was out of their league and they were wise enough to know it.
So what were Legend looking for in the deal? Well, an 800 million dollar slurry pipeline might have something to do with it. A quick glance at the map suggests the Highland deposit is somewhat closer to the coast than the Legend project, potentially shaving many millions from the project cost. The opportunity to parallel the Century zinc slurry line might ease the way for land access issues rather than breaking virgin ground out to Lady Annie.
If the grades at Highland prove up against the grades at Lady Annie then it would be hard to see Legend going past this as their initial development, especially as they have potential to draw GCR in for an eventual 20% share of funding of mine/infrastructure development. Legend will drill it - they would be crazy not to. Will they develop it? That depends on how good it is. Isn't that the way things should be?
In the meantime GCR get the development options explored at no cost to themselves. They waste no money chasing what may yet prove to be a short lived phosphate price spike. And, for good measure Legend effectively do a bit of free Uranium exploring for them. This deal is not as bad as everyone is making it out to be.
I'm not ready to get excited on Copper Hill just yet - the grades were not good enough for excitement in the bull market so it barely raises interest now. Low grade = high opex = marginal prospect... They have some advantages with power and rail infrastructure already in place right up to the potential mine site which will reduce reduce capex. They are obviously working hard at maximising value out from the resource to offset the higher opex. I'm guessing this one needs the copper bull to be in full swing again...
I'll hold for the Uranium...?
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No longer holding... but then who is?
I just noticed today that Legend have signed up a very similar looking Phosphate JV deal with near neighbour MET. Now, 800 million dollar slurry pipelines are well and truly out of the picture in the current funding environment but it looks like there is a meaningful attempt to build scale for something a little further down the track. Interesting that MET would have gone down the same path if it was such a bad deal...
I just noticed today that Legend have signed up a very similar looking Phosphate JV deal with near neighbour MET. Now, 800 million dollar slurry pipelines are well and truly out of the picture in the current funding environment but it looks like there is a meaningful attempt to build scale for something a little further down the track. Interesting that MET would have gone down the same path if it was such a bad deal...
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An old favourite of mine GCR looks to be in for an exciting week and month
This week ARD will upgrade the JORC Silver deposit at Kempfield, then this month the Chinese backers are reviewing Copper Hill, think JRV and what happened when the chinese backed them
Got this from the qtrly
The China National Automation Control System Corporation will review the Copper Hill project in May to assess whether to propose providing a fully integrated mill and plant for copper-gold production as concentrate or stepping up to a roaster with SX-EW (solvent extraction electrowinning) copper plate, bullion gold, acid, and calcine products. It is hoped this approach, from a single, large Chinese manufacturing company, in a competitive global environment, will result in reduced overall capital
costs.
Several multinational engineering and technology groups are also reviewing Copper Hill data with a view to assisting with feasibility studies and possibly taking an equity position. Golden Cross has received an approach from one large multinational mining company which is reviewing Copper Hill data as well as approaches from parties offering their project management, engineering and construction management services.
Copper Hill contains a JORC compliant resource of 133 million tonnes at 0.31% copper and 0.28g/t gold containing 421,000 tonnes of copper and 1.2 million ounces of gold.
With its flagship copper/gold project getting the ruler run over it by a few "major" mining houses times look very interesting for GCR
Its a shame its huge phosphate assets are tied up with Legend, given MAK's takeover of BON, I'm sure a JV with MAK over these projects would have been possible
Still at least they retain 100% of the Uranium rights at Mt Isa which had some interesting looking anomolies
So many projects, Chinese JV backing and funding via placements, GCR will survive and may come out of the GFC with some interesting projects on the go
This week ARD will upgrade the JORC Silver deposit at Kempfield, then this month the Chinese backers are reviewing Copper Hill, think JRV and what happened when the chinese backed them
Got this from the qtrly
The China National Automation Control System Corporation will review the Copper Hill project in May to assess whether to propose providing a fully integrated mill and plant for copper-gold production as concentrate or stepping up to a roaster with SX-EW (solvent extraction electrowinning) copper plate, bullion gold, acid, and calcine products. It is hoped this approach, from a single, large Chinese manufacturing company, in a competitive global environment, will result in reduced overall capital
costs.
Several multinational engineering and technology groups are also reviewing Copper Hill data with a view to assisting with feasibility studies and possibly taking an equity position. Golden Cross has received an approach from one large multinational mining company which is reviewing Copper Hill data as well as approaches from parties offering their project management, engineering and construction management services.
Copper Hill contains a JORC compliant resource of 133 million tonnes at 0.31% copper and 0.28g/t gold containing 421,000 tonnes of copper and 1.2 million ounces of gold.
With its flagship copper/gold project getting the ruler run over it by a few "major" mining houses times look very interesting for GCR
Its a shame its huge phosphate assets are tied up with Legend, given MAK's takeover of BON, I'm sure a JV with MAK over these projects would have been possible
Still at least they retain 100% of the Uranium rights at Mt Isa which had some interesting looking anomolies
So many projects, Chinese JV backing and funding via placements, GCR will survive and may come out of the GFC with some interesting projects on the go
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I hope your right on that one Y/T... i had a punt on GCR when they hit 0.01 with the idea that if just one of their projects got off the ground then i'd be on a winner... very speculative but worth a sniff i reckon!
exactly one week later and the excitement may have begun, nice end to the day, sp up approx 30% on above average volume
cheers
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Hey Happy
With the large interest in URL of late I thought it interesting to look at Roseby and Copper Hill
URL 128Mt's@ 0.68%Cu+0.06g/tAu = 880kt's Cu + 240koz's Au
GCR 133Mt's@0.31%Cu+0.28g/tAu = 420kt's Cu + 1.2Moz's Au
Gold is up alot more than copper, so I like the fact that although GCR's Copper grades and thus content is half that of URL's its Gold grade and thus gold contetn is about 5x as much as URL's
On top of this they have secured Chinese backing who are lookin at funding/JVing the development of Copper Hill, they have already taken a stake in GCR at 1.2c and have agreed to provide further funding assistance
"The China National Automation Control System Corporation will review the Copper Hill project in May to assess whether to propose providing a fully integrated mill and plant for copper-gold production as concentrate or stepping up to a roaster with SX-EW (solvent extraction electrowinning) copper plate, bullion gold, acid, and calcine products. It is hoped this approach, from a single, large Chinese manufacturing company, in a competitive global environment, will result in reduced overall capital costs.
Several multinational engineering and technology groups are also reviewing Copper Hill data with a view to assisting with feasibility studies and possibly taking an equity position. Golden Cross has received an approach from one large multinational mining company which is reviewing Copper Hill data as well as approaches from parties offering their project management, engineering and construction management services."
With the large interest in URL of late I thought it interesting to look at Roseby and Copper Hill
URL 128Mt's@ 0.68%Cu+0.06g/tAu = 880kt's Cu + 240koz's Au
GCR 133Mt's@0.31%Cu+0.28g/tAu = 420kt's Cu + 1.2Moz's Au
Gold is up alot more than copper, so I like the fact that although GCR's Copper grades and thus content is half that of URL's its Gold grade and thus gold contetn is about 5x as much as URL's
On top of this they have secured Chinese backing who are lookin at funding/JVing the development of Copper Hill, they have already taken a stake in GCR at 1.2c and have agreed to provide further funding assistance
"The China National Automation Control System Corporation will review the Copper Hill project in May to assess whether to propose providing a fully integrated mill and plant for copper-gold production as concentrate or stepping up to a roaster with SX-EW (solvent extraction electrowinning) copper plate, bullion gold, acid, and calcine products. It is hoped this approach, from a single, large Chinese manufacturing company, in a competitive global environment, will result in reduced overall capital costs.
Several multinational engineering and technology groups are also reviewing Copper Hill data with a view to assisting with feasibility studies and possibly taking an equity position. Golden Cross has received an approach from one large multinational mining company which is reviewing Copper Hill data as well as approaches from parties offering their project management, engineering and construction management services."
agree entirely with your assessment and comparison with url
and looking forward to several interesting anns you mention are forthcoming
copper hill looks to be a sensational opportunity with the interest it is generating
it couldn't possibly be newcrest looking over copper hill data (cadia valley is not far south from copper hill, 50Kms) - would be nice if it was though
just a little re gcr's farm-outs with ard
as you mentioned argent should be releasing (any day now) a resource upgrade for kempfield bj zone which formed part of the ipo resource statement (11.3M oz Ag), which argent itself describes will be a "significant increase" (gcr 100%, with argent to earn 70% farm-in)
argent is set to release drill results from west wyalong within 2 weeks (previous interesctions of 19g/t Au, 100% gcr, argent to earn 70% farm-in)
argent recently began drilling at kempfield mt dudley Au (separate to bj zone above) and espects to finish in approx 1 week with results to follow shortly, with potentially "high grade shoots" (gcr 100%, with argent to earn 70% farm-in)
argent to determine drilling targets for kempfield trunkey creek shortly (trunkey creek and mt dudley have a combined strike length of over 5kms) (gcr 100%, with argent to earn 70% farm-in)
a director of spitfire resources (chritopher daws) has become a substantial holder of argent as announced over the last fortnight
cheers
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Looks like it may have been a double header rather than a breakout the other day
Well patience is required especially since this Kemfield JORC upgrade is wayyy overdue now, c'mon ARD get your act together
Also wonder if the chinese arrived safe and sound to begin JV/Funding discussions
Well patience is required especially since this Kemfield JORC upgrade is wayyy overdue now, c'mon ARD get your act together
Also wonder if the chinese arrived safe and sound to begin JV/Funding discussions
