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GIB - Gibb River Diamonds

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Re: POZ - Phosphate Australia

GeoNut said:
Hmm, a lot to like about the West Musgrave Project.
-Been told Anglo are following up on some very nice em conductors. (Quarterly mentioned Anglo had found a number of conductors worth following up on).
-The tenements are just to the north of BHP's nicklel/copper deposits.
-Market is looking for the next SIR.
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From POZ's latest quarterly

Musgrave PGE, Ni, Cu Project (WA)
As announced on 2 April 2012, the Company has negotiated a $3 million, four year farm-in agreement for its Musgrave PGE, nickel and copper project in Western Australia, with Anglo American Exploration (Australia) Pty Ltd (“Anglo American”), a wholly owned subsidiary of Anglo American Plc, one of the world’s largest mining groups. This agreement covers the three core tenements within the Musgrave project area near the WA border with the NT and SA: E69/2862, E69/2863 and E69/2864 (Figure 3).
The key terms of the Agreement are for Anglo American to complete a SPECTREM airborne electro-magnetic survey over greater than 80% of the total area of the three tenements. Anglo American will have four years to meet the earn-in requirements at which point Anglo American will earn a 70% interest in the tenements and a Joint Venture will be formed. In order to meet the earn in requirements, Anglo American must spend a minimum $3 million dollars including the reimbursement of prior expenditure and completion of the SPECTREM survey.
Prior to vesting of the 70% interest, Anglo American is also required to complete a minimum of 5,000m of drilling on the tenements. POZ will be free-carried by Anglo American through any subsequent exploration and evaluation phases within the Joint Venture tenements until the completion of a Bankable Feasibility Study.

That's a big call inferring POZ could be the next SIR. Considering there is not even an airborne EM
The next SIR is more likely to come right next door to SIR. Take a look at BOA mate, will be hitting the market soon.
 
Re: POZ - Phosphate Australia

springhill said:
From POZ's latest quarterly

Musgrave PGE, Ni, Cu Project (WA)
As announced on 2 April 2012, the Company has negotiated a $3 million, four year farm-in agreement for its Musgrave PGE, nickel and copper project in Western Australia, with Anglo American Exploration (Australia) Pty Ltd (“Anglo American”), a wholly owned subsidiary of Anglo American Plc, one of the world’s largest mining groups. This agreement covers the three core tenements within the Musgrave project area near the WA border with the NT and SA: E69/2862, E69/2863 and E69/2864 (Figure 3).
The key terms of the Agreement are for Anglo American to complete a SPECTREM airborne electro-magnetic survey over greater than 80% of the total area of the three tenements. Anglo American will have four years to meet the earn-in requirements at which point Anglo American will earn a 70% interest in the tenements and a Joint Venture will be formed. In order to meet the earn in requirements, Anglo American must spend a minimum $3 million dollars including the reimbursement of prior expenditure and completion of the SPECTREM survey.
Prior to vesting of the 70% interest, Anglo American is also required to complete a minimum of 5,000m of drilling on the tenements. POZ will be free-carried by Anglo American through any subsequent exploration and evaluation phases within the Joint Venture tenements until the completion of a Bankable Feasibility Study.

That's a big call inferring POZ could be the next SIR. Considering there is not even an airborne EM
The next SIR is more likely to come right next door to SIR. Take a look at BOA mate, will be hitting the market soon.
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You should have a read of the last quarterly.

"Anglo American has recently completed the interpretation of its SPECTREM airborne
electro-magnetic survey which was flown over the project area in March and April 2012. A
number of bedrock conductors, potentially related to the presence of sulphides, have been
identified and are recommended for on-ground follow-up work."

we are a good way into this quarter now :).
 
Re: POZ - Phosphate Australia

GeoNut said:
You should have a read of the last quarterly.

"Anglo American has recently completed the interpretation of its SPECTREM airborne
electro-magnetic survey which was flown over the project area in March and April 2012. A
number of bedrock conductors, potentially related to the presence of sulphides, have been
identified and are recommended for on-ground follow-up work."

we are a good way into this quarter now :).
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It's amazing what flicking to the next page will do! :) Point taken on that, sloppy work by me.

It is more the comparison to 'the next SIR' that concerns me, more for the fact that there are thousands of potential SIR's but they odds are what 1 in 1000? Just a long bow to draw I think, and it is easy for all specs to be dubbed the next SIR.
Especially as, although under explored, the best results in the area are BHP's below.

"The Musgrave region is a remote, under explored geological province characterised by a series of layered mafic intrusions prospective for mineralised magnetite layers (platinum group elements and vanadium) and cumulate nickel deposits. The BHP Billiton Ltd controlled Nebo-Babel deposit (393 Mt at 0.3% nickel, 0.3% copper and 0.3 g/t PGE) remains the most significant discovery in the region to date."

All the best with POZ :xyxthumbs
 
On November 26th, 2018, POZ Minerals Limited (POZ) changed its name and ASX code to Gibb River Diamonds Limited (GIB).
 
I’m doing my research on this Co like there ground a large foot print Argle closing makes timing just about right JR done it before , tight register hard to get good volumes and top 20 hold a good percentage . I’ll be watching this one closely dyor & DD Springs
 
GIB GIBB River Diamonds is set for a big month , drilling currently at Edjudina Gold Project in Wa a recently oversubscrib SPP and also incentive options to directors and staff .GIB also have the Ellendale Diamond mine and with the Argyle mine closing this is one to research and watch always dyor & DD Springs
 
Springs said:
GIB GIBB River Diamonds is set for a big month , drilling currently at Edjudina Gold Project in Wa a recently oversubscrib SPP and also incentive options to directors and staff .GIB also have the Ellendale Diamond mine and with the Argyle mine closing this is one to research and watch always dyor & DD Springs
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A very good day @Springs

gib.jpg
 
Just had a listen to Jim Richards on abc WA radio program it went for about 5 minutes, sounded pretty chuffed about Neta Lode and Edjudina project , his phone had not stop ringing . With a haul road going through the prospect it will keep costs down and also D&D this week in Kalgoorlie makes it a interesting week ahead always dyor Springs.
 
Not having a go, but your previous posts, prior to 30Sept, are all about diamonds (as befits the GIB name) ; then the SP response is due Edjundina gold , never mentioned.

Nice pick, nevertheless.
 
Yes I understand they do have more than one project they only have had Edjudina 3 months they also have a phosphate project in the NT cheers Springs.
 
3 months is fantastic, to get to where they are.... database build and check, target selection, field mapping and sampling, permitting, drilling, assaying, and assessment.

The extreme strike length of the historic workings, which at 13km, present[ed] issues with the selection and prioritising of target areas. Most of the artisanal workings were dating from early 1900's. Yields may have been high but gold recovered was small (as befits those operations?)

66 holes were drilled for 2,755 metres, all holes were aircore drilled at a 60 degree dip. Highlights:
36m at 3.97g/t from 4m (GAC 13)
18m at 3.10g/t from 28m (GAC 11)
24m at 1.44g/t from surface (GAC 08)
8m at 2.91g/t from 26m (GAC 03)
14m at 1.20g/t from 1m (GAC 06)
21m at 1.74g/t from 38m (GAC 14)
18m at 1.15g/t from 25m (GAC 09)
1m at 35.0g/t from 7m (GAC 22)
29m at 0.86g/t from surface (GAC 19)

More work needs to be done; the shallowness is attractive, just get a D9 in and scrape it back??

And, yep, the DnD next week will be abuzz :)
 
Sold a tranche of KCN a couple of days ago and put a bit of the proceeds into the misleadingly titled Gibb River Diamonds. Illiquid stock, no trades today last I looked - I paid 0.074, last price 0.071. Bought in for the Edjudina gold project

Drilling has been all aircore and at least one prospect, Triumph, they are finding good shallow grade with every hole. But interestingly results have raised the prospectivity for the Edjudina field to host large-tonnage porphyry-style gold deposits. The Company is reviewing all Edjudina data with a view to also targeting porphyry-style gold opportunities.

They say, "Some very important gold deposits in Western Australia’s Eastern Goldfields are Porphyry hosted, including the giant Wallaby mine approximately 75km north of Edjudina which has a total gold endowment of 11.75 million ounces, including over 4.5 million ounces of gold production to date"
.
Historic and current mines are nearby and suggest to me a potential suitor.
"Approximately 17km from Edjudina, Northern Star’s porphyry-hosted Million Dollar and Porphyry mines produced a combined 176koz Au to 1988; Northern Star is currently mining 'Million Dollar' and will commence underground operations in 2022."

Bit of a concern that Gibb has only $1.5m in kitty, but they do have a diamond project that they are selling off. They also have a 20% jv interest in a Zinc-Lead project, free carried to bfs. They have a lucrative looking rock phospate property in the N.T that they are seeking a partner for. So far Gibb have kept share issuance admirably low for an explorer.

Held
 
GIB up 18% intraday.
GIB announced today that Burgundy Diamond Mines (BDM) has exercised the second tranche of its 3 tranche option agreement with Gibb.
That brings in $1m cash plus 5m BDM shares to Gibb.
That suggests to me that GIB is derisked from short term dilution to fund its own exploration program at Edjudina.
At the end of H1(Dec31) GIB had $1.5m in treasury; so by now it should still have over $2m which includes the BDM payment.
Net Cash outgoings in H1 for Gibb were $758k.
So in fact, optimistically, there will be no need for a capital raising for a long time, assuming the likelihood now that BDM will not waste its first two payments and will exercise its third tranche option to GIB in 1 year from here for another $4m plus 7m BDM shares plus a 1.5% gross revenue royalty.
This is looking pretty good imo for a $12m market capitalised company which has the Edjudina gold project, a 20% free carry in a Zinc project and a phosphate resource in the N.T seeking a partner.

Held
 
Another great leap forward.
Tacked on 40,000 more of these today @ 0.041 from a sitting bid.
Price then deteriorated to 0.036 but is now being supported by a bid of 0.040
Probably about $13,000 of dollar volume trading today to drop the market cap by 14% (@ 0.038)
Can't read a chart like this with such low volume trading.
 
finicky said:
Another great leap forward.
Tacked on 40,000 more of these today @ 0.041 from a sitting bid.
Price then deteriorated to 0.036 but is now being supported by a bid of 0.040
Probably about $13,000 of dollar volume trading today to drop the market cap by 14% (@ 0.038)
Can't read a chart like this with such low volume trading.
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All the best @finicky

I've been watching this with interest, not in yet.

gg
 
Garpal Gumnut said:
All the best @finicky

I've been watching this with interest, not in yet.

gg
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Well Done gg for showing such strength of mind and Patience
Just Watch ! Watch and Watch until there is nothing to watch IMHO

You can't lose any money Watching
Only Time! But then Time is Free!

Please, Don't get sucked into shares with greater volumes than ZERO
Or volumes with lots of zeros before The Number
I hope this tip helps you in the future?

Before all is lost!

GIB d.png


Capt Chaza.jpg
 
GIB is my pick in the July competition.

It has nothing to do with Gibb, Gibb River nor Diamonds.

Reports via @finicky above suggest it is a goer, on Gold exploration at Edjudina near Kalgoorlie, Zinc and Phosphate in the NT.
The announcements have too many big words, numbers and concepts in them for this tiny mind but it has the vibe for me.

It has from the end of April this year enough funds for 2 years of activities. I just need it to shine in July for the ASF Competition.

gg
 
Hope it doesn't let you down @Garpal Gumnut , I am dubious of its prospects over the next month.
I added more yesterday @ 0.036 but now feel I gave been overly sanguine about its capital strength. This so much relies upon Burgundy Diamonds (BDM) coming through with the third tranche of its purchase of the Ellendale diamond project - $4m plus shares due in March 2023. I have thought before, "how likely is it that BDM, after already paying $2.7m and a chunk of shares for the project, will just walk away from the option?" But with the climate lately I'm reminded there's such a thing as 'cutting your losses'. Burgundy might simply not be able to source the money in a crashed market. Or maybe after a year of investigating the project they'll have a change of mind about its value.

Held
 
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