GIR - Giralia Resources

[kariba]

IMO, GIR is very undervalued. While they are spinning all their U leases into U308, they are holding onto the Lake Frome/Beverley leases. This indicates a lot! Their Lake Frome EL's are MASSIVE! They include large blocks of uranium bearing leases that surround AGS' newly discovered deposit, & both South & West of the Beverley mine

Evidently during the "dot-com" boom, they went on an accumulation binge, buying up exploration leases cheaply. Hence, the vast amount of EL's they have been able to float. They still hold a swag of them too! Hats off to smart management who were then willing to pass on benefits to shareholders.

I have taken a strong position along with AGS

Regards

 

[rub92me]

I think it's time this one gets a mention. They have been very good at capitalising their assets over the past year with 3 spin-offs, and still hold a good portion of PMH. Has been ticking up nicely over the past week. I've been holding for almost a year, so may take some profit with reduced tax soon...

 

[REA]

This Company had a positive announcement today and as a result the shares have moved. They are also breaking off part of their Company and will be offering shares to their shareholders in the new year. Such a lot of good opportunities around not enough money.

 

[Devil_Star]

This Company had a positive announcement today and as a result the shares have moved. They are also breaking off part of their Company and will be offering shares to their shareholders in the new year. Such a lot of good opportunities around not enough money.

I just bought GIR again on the date it annouced the spin-off of the zinc co. So happy to see another bullish discovery today. Any idea about the record date for the prority share offer of the new zinc co.?

 

[Sean K]

I first bought this a couple of years ago on it’s U potential, which was IPO’d, but it’s really a polymetallic company with some significant iron potential. Time to revisit I think.

158m shares @ 80c = $126m cap
Cash $10.5m
Investments valued at $36m
Top 20 shareholders own 55%

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Overview from the company

Giralia's primary objective is the discovery of significant precious and/or base metals mineralisation through the identification, acquisition and exploration of targets with the potential for world class mineral deposits.

Shareholders have exposure to a multi-commodity portfolio of mineral exploration properties in Australia and overseas, which the Company acquired at the bottom of the market. Where clear, high potential targets amenable to rapid testing are identified, Giralia seeks to maximize its involvement by sole funding exploration programs on 100% owned projects to accelerate development. Over 42,000 metres of drilling were completed on the Company's tenements in 2005.

Giralia has unlocked substantial shareholder value through commodity specific spin-offs, and holds significant interests in PMH and RHI, and UTO. They’ve also announced the intended spin-off of its zinc assets into Zinc Co Australia Limited.

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They have so many projects that I don’t know how they keep track of them. (See map below, to be more confused)

For this discussion I’m going to briefly mention all of them, but concentrate of their Iron assets, as fe is the flavor of the month.

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Iron Projects (other than RHI investment)

Earaheedy, Western Australia (Zinc, Iron Ore)
Australia’s second largest iron formation belt.
100% owned project with ore grade zinc intersections and high grade iron at surface.
75m @ 62% fe
Aeromagnetic survey Aug 07
Approvals for drilling awaited

Western Creek
Pilbara, 10km w of Newman, adjoins BHP Mt Newman Western Ridge. Prairie Downs deposit to the west. Potential in Hamersley and Archaean BIFs, and for CIDs.

Deebyn - Weld Range Mid West Iron Ore Provence
Outcropping DSO Hematite directly along strike from MWE/Sinosteel JV – 50-70m @ 63-67% fe.
GIR drilling in may included hits of 30-36m @ 60% fe, from 6-70m depth.
Main hematite zone 25- 45m thick.
65% of assays returned, the remainder are overdue.
Further drilling planned this half for an initial resource.

Also:
Beebyngana Hill untested Hematite zones, 11km of BIF strike, surface samples to 60% fe – potential. Not much detail on this.

McFee Creek
200km SE of Port Headland. Two known prospects, on CID 3.5 km long with surface grades 58.7% fe, drilling up to 57.3% fe. Also, 8km of Achaean BIF up to 1km thick with a known zone of hematite enrichment.
Resource drilling in this half.

Yerecoin
150km N Perth, 1km from rail. Archaean BIF with up to 5km strike inferred aeromagnetics, with widths 30-50m, grades 35-48% fe. Test work in progress.

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Other projects

Snake Well, Western Australia (Gold, Zinc)–
100% owned advanced gold project , with existing gold resource of 2.49 million tonnes @ 2 g/t Au, plus numerous immediate drilling targets along a 15 kilometre magnetic unit with RAB and RC intersections including 8 metres @ 25.3 grams per tonne gold, 13 metres @ 6.32 grams per tonne gold, etc. Nearby felsic volcanics host high grade zinc intersections.

Daltons, Western Australia (Nickel, Platinum Group Elements - PGE)
Giralia has earned 75% interest in 2 tenements in the Pilbara block of WA, with high grade nickel intersections in previous drilling, and surface gossans with extraordinary PGE grades. Falconbridge has agreed to farm-in to explore regional targets for nickel sulphides, with Giralia and Haoma retaining the Kingsway prospect.

Lake Frome, South Australia (Uranium)
Tenements surround operating Beverleys in-situ leach uranium mine; very prospective for extensions/repeats. Giralia free carried at 25% to decision to mine.

Ashburton, Western Australia (Gold)
Key landholding in exciting new gold province. (Total of $4.7 million in partner funded exploration).

Blue Rose, South Australia (Copper, Gold)
Major joint venture with widespread copper, gold anomalies and geophysical targets. RC and RAB/aircore drilling returned significant intersections including 24 metres @ 2.14% copper and 48 metres @ 1.01 grams per tonne gold, 0.82% copper.

Munro Bore, Western Australia (Gold)
Highly gold mineralised property; many ore grade and width drill intersections.

Yuinmery JV , Western Australia (Gold)
Control of almost entire Archaean greenstone belt. Untested high order gold in soil anomalies.

Kathleen Valley JV , Western Australia (Gold, nickel, tantalum)
Gold resources and nickel, tantalum prospectivity 5 kilometres from the Cosmos nickel mine. Drilling on gold targets in mid 2002 returned high grades, including 5.9 metres @ 12.1 grams per tonne gold.

Cardinals and Mt Alexander Western Australia (Copper, Zinc, Lead)
Advanced 90%-100% owned base metals projects with ore grade drill intersections.

Mt James (Clevermary/Big Bend) , Western Australia (Gold, zinc)
Two contiguous tenements in the Gascoyne Province. Clever Mary covers a 'greenstone hosted' gold prospect with ore grade/width intersections. Big Bend is a possible 'sedex' zinc occurrence in Mid Proterozoic sediments. Talisman Mining NL has agreed to earn 60% interest.

Beebyn and Avoca Downs, Western Australia (Gold)
Large 100% owned gold prospective tenement packages in the Murchison and Eastern Goldfields provinces, covering under-explored major mineralised structures.

Dicky Lee/Albury Heath, Western Australia (Gold)
Royalty interest in granted mining leases covering gold resources close to an operating mill.

Bocrabee Hill, Western Australia (Copper, lead, zinc)
Giralia retains a 15% free carried interest in this base metals prospective property on the western edge of the Paterson Province.

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Investments (see slide below for more details)

PMG (11%)
RHI (16%)
UTO (12%)
ZNC (62%)

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Anyone care to put a value on all of these projects?

 

[Sean K]

Recent anns:

PMH
14 Aug

IP survey has identified a major new Cu/Mo target at the Netley Hill Prospect within the Blue Rose JV, in SA.
Target is 3000x1000x400.
Previous Cu/Mo drilling results from above anomaly intersected Cu/Mo open in all directions.
10 drill hole program planned.

ZNC
14 Aug

Conquistador Project
VHMS Project

A new zone of mineralisation intersected 140m south from previous drilling:
21m @ 3.14% Zn, .68% Pb, 1.08 g/t Au, from 134-155m, including
2m @ 8.49% Zn, 2.94% Pb, 0.35 g/t Au, and
1m @ 12.21% Zn, 1.17% Pb, 12.1 g/t Au
Hole terminated in high grade Zn at 155m.

Previous drilling has returned:
4m @ 8.25% Zn, 20.5 g/t Ag, .53% Cu, .63% Pb from 88m
6.7m @ 6.1 % Zn incl 2m @18% Zn from 118m
2.4m @ 12.5% Zn, .65% Cu, .63% Pb, and 27.5 g/t Ag from 135 m.

 

[ongchuan]

This company is currently under my radar. Looks terribly undervalued i guess. The SP is going south as the days go. I dunno when it will reach the bottom but i hope it will keep its way down to 30 cents. Probably I will pick up hell lots of it and keep for long term. It is another great company with lots of good prospects!!! Something like CUL i guess. Massive amounts of projects going on with HEAPS of cash in the bank. Hopefully it will keep going down!!! Yeah....I am gonna pick up MORE@@@@@

 

[prawn_86]

Im just looking into these guys now, and does anyone have more info on the management team, apart from what is on their website?

They have so many projects it must be hard for them to decide which ones to focus on!

 

[Sean K]

On the surface of it, these guys seemed to have been punished quite severely during the correction. With so many projects and investments with high potential, I have to wonder why.

Need to do some more research here.....

 

[Dukey]

MMmm - this one is very interesting!!! Have to agree with Kennas - unfairly punished recently and looks to be turning back up - 55c now.

Announcement out today (here) on good haematite ore grades (>60%) in Beebyn-weld range project - right next to midwest/sinosteel JV. Looks to be plenty more potential just to the south there too. And with all the other projects on the go....
... well - I'd be in If I had some spare cash

 

[Dukey]

Giralia charging so far today - up 9.5 c on fridays close to 68c at the mo.
not sure if it qualifies as a breakout - someone more qualified than me can assess that. But it is certainly an impressive turn around since august (~50c).

anyone watching?

 

[Sean K]

Giralia charging so far today - up 9.5 c on fridays close to 68c at the mo.
not sure if it qualifies as a breakout - someone more qualified than me can assess that. But it is certainly an impressive turn around since august (~50c).

anyone watching?

Yep. Looks like they've got about 7km of the strike of the Widwest/Sinosteel Weld Range prospect at their Beebyn Project. Would have to speculate that they'll either buy it off them, or farm in.

 

[Sean K]

I'm still not sure what to make of this company. Are the an investment house or do they want to actually mine anything themselves?

Great ann from PMH this am with great cu/mo intersections, resulting in this jump.

I almost posted this cup and handle a day or so ago, but now I'll paste it up for interest sake......

 

[Dukey]

They are professional 'spinners' aren't they. Spin off everything as soon as they can. Seems to be a successful approach for them - with that huge swag of tenements.

I had a buy in for this (for my Dad) a couple of weeks back - but set my price to low. . Missed out on 30 odd % gains by being a tightarse!!!!!!!!!

Oh well - lesson learned.
Could be more to come I guess - 'classically speaking' whats the next move after C&H?

 

[Sean K]

Good ann out on more fe results.

Chart update below. Not much different but interesting to watch it unfold.

For me anyway. :

 

[Dukey]

Good ann out on more fe results.

Chart update below. Not much different but interesting to watch it unfold.

For me anyway. :

Another +ve thought with GIR is that this Iron resource is right next to Midwest - who might be gobbled by nearly Murchison. Murchison have stated or implied that they may well be looking to drive more 'consolidation' among Fe miners. So..... GIR's resource would make a perfect target for them somewhere down the line ... yes????

 

[Sean K]

Good ann out on more fe results.

Chart update below. Not much different but interesting to watch it unfold.

For me anyway. :

This has almost played out to a tee. Damn it!! Will come off with everything else today I suppose.

Got a speeding ticket after the jump. Explained away by the MIS/MMX story and likelihood of further consolidation. Wouldn't be surprised if their Beebyn- Weld Range project is farmed in by the new team Dukey...

 

[Dukey]

This has almost played out to a tee. Damn it!! Will come off with everything else today I suppose.

Got a speeding ticket after the jump. Explained away by the MIS/MMX story and likelihood of further consolidation. Wouldn't be surprised if their Beebyn- Weld Range project is farmed in by the new team Dukey...

Yeah.... still crying in my dads home brew over missing this one....

I'll definitely be watching GIR closely over the next few weeks - They just have too many fingers in too many pies to ignore them much longer...... some of those fingers have to be on the money!!!!!! and their spin-off strategy seems to work well.
watching for any consolidation/correction.

 

[johnmwu3]

GIR---The next FMG is born !

1 billion ton hamatite iron ore Target !!!!!

Giralia has a 100% interest in 570 square kilometers in the Miss Fairbairn Hills area.

The company's target is '' one billion tonnes ''........this iron ore province is said to have the second largest accumulation of iron ore formations in Australia.

 

[speculator101]

Hi all. Just wondering if anyone might hazard a guess as to what would happen if the takeover of Midwest by Murchison fails... Does that mean an increased possibility of something happening between GIR and MIS, farm in... etc?
The share prize went crazy 2 weeks ago, a high of $1.83.