GGY - Glengarry Resources

[sam76]

Re: GGY.....Excellent Molybdenum results!

check that - up 27%

 

[pussycat2005]

Re: GGY.....Excellent Molybdenum results!

ggy good buy

heading towards 10 cents

check the charts
and broker reports

 

[danc]

GGY starting to go.bit of a cup and handle on day week and mth,vol under handle,adx trending strong onall charts,weekly looks especialy good,must be somthing going on.bought some this morning at .068.

 

[pharaoh]

Danc, you still in?
Could have a run shortly

 

[two40]

up ~25% in 5 days on no news. what's the go with this one?

240

 

[YOUNG_TRADER]

I really got hang on to my day trades longer than a few minutes,

I seem to almost always get out with half the profit I could have made had I stuck to my plan

in @ 0.059 out @ 0.061, original sell was at 0.063 which would have been hit, so only 2 points instead of 4

Oh well

 

[bigdog]

YT

GGY have just announced "strong zinc and gold recorded at Greenvale"

ASX 1:14 PM

 

[YOUNG_TRADER]

YT

GGY have just announced "strong zinc and gold recorded at Greenvale"

ASX 1:14 PM

Hence the day trade Bigdog, bought straight after ann for a quick profit, sold in a few minutes, point was could have made more but not complaining,

Thanks anyway though Bigdog

 

[moses]

I seem to almost always get out with half the profit I could have made had I stuck to my plan

Don't we all?

 

[Sean K]

There is still something going on here. Breakout! Again!

One to watch tomorrow for trading op.

 

[Sean K]

This hasn't really gone to script since breaking through about $0.06, but it's still generally going up.

Anyone on this?

(not me)

 

[mmmmining]

A few things about GGY is making me wonder:

1.They own Oasis Uranium prospect in QLD, which might have 3000-3750t of relative high grade @0.15% (same grade as EME's Bigrlyi), with other potential surrounding area.

2. The company mentioned a possible trade sell for the uranium asset to a third party to realize the company's value.

3. The company mentioned that just a few more drilling is needed to establish a JORC resources.

4. The own a small 21,000t high grade copper deposit, in addition to a number gold and base metal brown/greenfield staff.

I am confused. Nowadays, a lot of companies want to jump on uranium bandwagon, why GGY wants to jump off? By in-ground value, the uranium is much more than the copper. I guess the uranium should be considered as the core asset to keep, not to sell.

If they want to sell, why don't they drill a few more holes, to have a JORC resources before the sell to maximize the asset value?

If they really have 3000t resources, it could easly worth $20m to $30m dollars! While the EV of the whole company is about $13m.

I have to quote this from Far East Capital:
----"GGY comes across as a genuine exploration company with uranium, gold and copper prospects, it is viewed as corporately naive."----

I don't think that they are that bad. But I am still confused.

Anyone think it worth a look? It is getting hard and hard to find cheap uranium stock.

 

[mmmmining]

Just have to to look at the company's presentation. It do give a hint about the potential buyer of the uranium assets. MGA.TO.

On slide 11, two MGA.TO' s property were mentioned, the 3000t Maureen deposit, and 5000t Ben Lomond deposit. The Oasis is right in the middle.

I believe another potential buyer is PNN because they have a few lands near Georgetown.

I guess either company will not pay outright cash.

 

[mmmmining]

This stocks has its run early this month, then in sideway for a couple of weeks. This one looks very cheap if the 3000t uranium deposit is there.

The question are: Are they going to establish the JORC resources before sell it to a third party? Or GGY will follow THX to keep its uranium asset?

 

[Sean K]

Looks like all time highs are going to be cleared here.

 

[kromey]

Mega Uranium aquires Glengarrys uranium project in QLD.

 

[sydneysider]

Mega Uranium aquires Glengarrys uranium project in QLD.

GGY shafted their shareholders on this deal. They leave the table with C$4,912,500 and they become a very micro minnow investment company with no equity interest in the property other than a 1% royalty. I thought that GGY was run as an explorer with multiple JV's. ELL just paid 80,000,000 shares at 19 cents = $15,200,000 for a U property in NW QLd.

AEE also did a recent deal with Mega which blew away GGY's terms (please see AEE thread).

 

[mmmmining]

Just have to to look at the company's presentation. It do give a hint about the potential buyer of the uranium assets. MGA.TO.

On slide 11, two MGA.TO' s property were mentioned, the 3000t Maureen deposit, and 5000t Ben Lomond deposit. The Oasis is right in the middle.

I believe another potential buyer is PNN because they have a few lands near Georgetown.

I guess either company will not pay outright cash.

Another example of stupid directors dirty act. Sell $30m worth of asset for $5m, and consider as hero. Shame on them!!!

 

[sydneysider]

Another example of stupid directors dirty act. Sell $30m worth of asset for $5m, and consider as hero. Shame on them!!!

The market reacted accordingly and hit the stock. Unfortunately many of the small minnows have rather dull management.

 

[mmmmining]

The market reacted accordingly and hit the stock. Unfortunately many of the small minnows have rather dull management.

We should send these directors and managers to Jail, minimum five years without beer.
I am out of this one with smaller profit. I believe people still hold it has a class case against GGY for value destruction.