GGY - Glengarry Resources

[tech/a]

GGY

Like the way this is moving out of a 61.8% retracement.
First chart shows commentary relative to the lack of selling pressure --supply and then the consequent breakout on volume.

Second chart shows the commentary on the breakout bar note the low volume on todays bar indicating a lack of supply.

Elliott analysis from AGET.
If "B" is taken out (Red Arrow) then confirmation of beginning of final wave 5 in this pattern.
Inital Targets Pink and Blue MOB (Make or Break) custom indicator 32c
Fib Extension of Wave 1 30c

Never used the Time lines in Get but they have it (the move) ending at
between 25/7 and 20/8

Thought it maybe of interest to follow.
Any trading below the low at 12c and the analysis will have been proven to be incorrect.

 

[vert]

hi teck/a was wondering what you make of the last weeks action, has bounced of 0.12 again and all my indictors that i follow look good for some movement up. buy side also filling up.

i have bought a parcel today after reading through announcements as there seems to be some more results coming soon.

off to work now so will check this out later cheers

 

[rub92me]

Took a small position in this yesterday, once it looked like buyers were coming back in. I liked the announcement today that 250,000 15 cents options were exercised out of the money (the other half they let expire), which is sending a good signal to the market. If it drops below 12 cents I'm out.

 

[Descartes]

Recent announcements by GGY seem to show very positive results yet the share price is still languishing. The company seems to be well run and I have been a long term holder but not sure when we might see any long term movement. I had thought that recent moves to around .20 might establish a floor but not so. Any thoughts anyone?

 

[krisbarry]

Quite a large volume of shares changed hands yesterday, well over 4 million. Something seems to be up here.

No announcement yet, but I suspect we will see something today or tomorrow.

Current share price 13 cents

Below is a 6 month chart of GGY

 

[greenfs]

Possibly a significant factor in the volume and strength in the sp yesterday was an article written by Garimpiero in the Monday Age. I bought some on the strength of the article with an intention to hold at least through to the end of this calendar year.

 

[mr_fred]

Just wondering what peoples thoughts were of the huge buys that went through at close of market on friday. Actually all day there were big buys on market taking out the 14 - 15cent walls. Is it KZL, getting more stock before Maitland is drilled any theories out there?

 

[vert]

yeah fred noticed it had a little bit of interest come in at the last min of the day and bought some myself, expected the gap to get closed today and probably run in the arvo but has anyone noticed the 2 big orders just been placed, 5000000 @ 0.002 and 10000000 @ 0.001. looks to be some manipulation going on, will be watching closely to see how this affects the sp.

 

[Captain_Chaza]

Permission to come aboard!

Looks like a Potential breakout?
Sorry but I forgot where that thread is filed

Salute and Gods' speed

 

[STRAT]

Permission to come aboard!

Looks like a Potential breakout?
Sorry but I forgot where that thread is filed

Salute and Gods' speed

Here it is Captain https://www.aussiestockforums.com/forums/showthread.php?t=835

 

[chennyleeeee]

Just an update: This stock broke resistance at 0.155 recently and has today towered on to 0.185 on strong volume. It would be interesting to see how this stock goes on Monday, I have an initial target at 0.22 but that doesnt mean I will sell it if it reaches there. It might be ready to make new record highs.

CHEN

 

[happytown]

GGY (merged with CUR and soon to be renamed CTM)
shares 589,385,087 (based on most recent app 3b)
options 101,009,392
total 690,394,479
sp .07
mc $48.328M (fully diluted)

cash at end of 4th qtr $8.673M
(est cash outflow this qtr $500K)
nil debt

EV $39.655M
​

projects

Brazilian Fe projects

Itambe Iron Ore Project, Passabem Iron Ore Project, Liberdade Iron Ore Project (currently subject to legal action), Ferros Iron Ore Project, Serra do Bicho Iron Ore Project, Guanhaes Iron Ore Project, Rio Pardo Iron Ore Project, Itamarandiba Iron Ore Project

Itambe Project (1mtpa project - $20M cashflow pa)

50-83km from large smelters
20km from Vales Itabira Project (65 mtpa)
jorc inferred resource estimate 15.5Mt @ 37.2% Fe, 39.9% SiO2, 3.7% Al2O3, 0.055% P, 2.04% loi
mid '09 18 hole, 686m diamond core drilling program, results incl:
1.95m @ 53.18% Fe,
7.8m @ 50.57% Fe,
8.5m @ 45.03% Fe,
3.05m @ 44.88% Fe,
2.2m @ 44.63% Fe,
6.2m @ 42.8% Fe,
8.2m @ 42.1% Fe,
1.3m @ 40.0% Fe,
2.7m @ 39.9% Fe,
9.65m @ 39.36% Fe,
2.45m @ 38.26% Fe,
12.0m @ 35.1% Fe

scoping study for Itambe:

Stage 1 180Ktpa, stage 2 500Ktpa into the domestic Brazilian steel industry (note proximity to smelters - mine gates sales)
Capex for stage 1 US$1.15M, stage 2 US$11.02M
Stage 1 operational costs US$13.38/t, stage 2 operational costs US$12.91/t; gross operating margins $16/t; Project NPV (8% real) $19.6M [based on exchange rate BRL:USD 0.588, USD:AUD $1.094]

(note from recent preso total operating cost $14t v sale price approx $34t, capex $17M)

Passabem Project ( 1mtpa project)

52-63km from states largest smelters
jorc inferred resource estimate 2.6Mt @ 31.2% Fe, 48.9% SiO2, 2.9% Al2O3, 0.035% P, 1.16% loi
expl target 15-25Mt @ 30-33% Fe
mid '09 9 hole, 1,000m RC drilling program, results incl:
21m @ 33.07% Fe from 20m,
14m @ 32.01% Fe from 7m,
10m @ 31.95% Fe from 42m,
23m @ 31.43% Fe from 11m,
19m @ 31.25% Fe from 30m,
16m @ 31.13% Fe from 20m,
14m @ 31.04% Fe from 24m,
9m @ 30.71% Fe from 32m
only 10% of strike length currently drilled

Liberdade Project

jorc inferred resource estimate 5.31Mt @ 37.0% Fe, 43.52% SiO2, 2.21% Al2O3, 0.03% P (currently subject to legal action)

summary

Fe production by 2011
3mtpa sold domestically by end 2013 (anticipated op cashflow $60m pa)
goal of acquiring or identifying (through expl of current holdings) a project capable of producing 12-15mtpa @ 64-69% Fe with mine life of 10 yrs

management

MD, Chairman, Ops director and neddy - ex GBG; another neddy - ex AGO; Ops director also - ex BHP

plenty of Fe experience there

other projects incl gold prospects

DYOR

 

[enigmatic]

Was lucky enough to get on to CUR when they were reasonably priced, so have only just started following the new GGY -> CTM however.

happytown the info you posted is the exact reason why I invested it now that they have merged the combined company has the cash to pay for there project development and exploration over the near term.
So most likely no real need to raise capital for now.

the first project with a capex of 1.15mil for stage 1 looking at your figures stated I can only assume they are on current contract prices, with a possible 90% price hike in iron ore I'm sure this will have a huge impact on Profit already easily covering the capex within about the first qtr of full operation.

Definitely one to watch strong run up from 5cents to well over 8cents recently.

 

[enigmatic]

For a specy Iron ore play who are very likely going to be a producer near term.

I'm surprised there isn't more talk interest from this forum.
well I thought I post the recent chart was expecting some resistance arround 9.2cents will be interested if it breaks the 10cent range.