GIR - Giralia Resources

[grace]

I wonder if it's a proper rerating, or it's going to go off on it's roller coaster ride again.

Interesting question, and only one the market can answer.

However, there is quite a lot of news flow over the next couple of months so hopefully that will at least keep things sideways???

It has at least had some more consolidation on the way up this time with the chart not so steep......

I'll post news flows expected in a second.

 

[grace]

Here are some of the news flow we can expect over the next couple of months

Beebyn–Weld Range segment; build on preliminary iron ore resource

• Beebynganna Hills iron ore; initial drilling April, initial resource?

• Earaheedy iron ore; substantial follow up drilling to test hematite hills

• Western Ck iron ore; initial drilling February, initial resource June?

• Mc Phee Ck iron ore; resource drilling April

• Yerecoin iron ore; drilling and detailed metallurgy April-May

• Partner funded uranium exploration at Lake Frome

• Snake Well gold project; development studies and regional drilling,
Daltons nickel JV; EM follow up

• Partner funded copper, gold, and nickel exploration at Blue Rose,
Cookes Creek, Yuinmery, Ashburton, Kathleen Valley, Mt James JVs.

Probably the one I am most looking forward to is Earaheedy!

 

[grace]

Iron ore investor presentation out today for a European road show starting tomorrow for 10 days. Good to see some sought of timeline and mining dates slotted in for the first time. Hopefully might attract some new interest in the gorilla!

http://aspect.comsec.com.au/asxdata/20080526/pdf/00845238.pdf

With MMX and MIS in trading halt, I'm hoping they can reconcile their differences quickly, and build and extend that rail line 80kms out to Earaheedy thanks! Giralia management need to be talking with them too!

 

[agro]

this stock is simply amazing,

has continued to rise on the back of iron ore demand on a daily basis.

I know GIR is next door to BRM (which is in a trading halt) - possible merger?

 

[prawn_86]

this stock is simply amazing,

has continued to rise on the back of iron ore demand on a daily basis.

I know GIR is next door to BRM (which is in a trading halt) - possible merger?

If it was a merger one would assume they would both be in a halt.

I kick myself every % i watch this go up. Considering i came so close to buying at 70c

Its still on my watchlist as a reminder of how stupid i am

 

[agro]

If it was a merger one would assume they would both be in a halt.

I kick myself every % i watch this go up. Considering i came so close to buying at 70c

Its still on my watchlist as a reminder of how stupid i am

true true

i am kicking myself too , i saw it at 70 cents - $1.20 a while back

grace has some good tips - look at FRS..

don't think i am keen on buying at these levels though

alot of potential no doubt

my

 

[Atma]

Earaheedy thanks! Giralia management need to be talking with them too!

one must be skeptical of theoretical "1 billion tonne DSO" targets. Earaheedy has had no results of significance yet, and nothing marketable product. Perhaps GIR is now overvalued, with only 1 prospect showing good size orebody(Western creek), the rest look smaller(Midwest, Mcphee creek) and not big enough in size on their own. One must always look at the opposing views before investing in these kinds of things(especially in a hyped up mkt).

 

[grace]

one must be skeptical of theoretical "1 billion tonne DSO" targets. Earaheedy has had no results of significance yet, and nothing marketable product. Perhaps GIR is now overvalued, with only 1 prospect showing good size orebody(Western creek), the rest look smaller(Midwest, Mcphee creek) and not big enough in size on their own. One must always look at the opposing views before investing in these kinds of things(especially in a hyped up mkt).

Good point, but going on their track record, my trust is in management here. They got in early and took up some very nice iron ore deposits in 1999 (one only has to look at the 350 million tonne of DSO they have drilled up via Red Hill Iron which was 100% Giralia until others bought in).

Remember also with Earaheedy that first drilling was not the hematite hills. Next drill will be, and this is where the DSO will be found.

The European road show running from 27/5 to 5/6 seems to have sparked some buying already. Today was very large volume indeed.

This month the initial jorc on Western Creek will be out.

I do believe that the MMX and MIS merger will be looking to increase resources, and GIR's mid-west deposits are nicely placed to be on their hit list.

 

[Dukey]

I have finally bought into GIR (in a small way) on last weeks sp. correction - after kicking myself endlessly for not getting in last year around the 60c mark!! Will look at buying more on the coming weeks.

Might be just in time too - with some more good looking DSO Fe results from their 100% owned western ck project.
Most Fe% 's around 56-60%, 28-38m thicknesses.
Init. resource estimate due by end of June..... would that be JORC compliant - or pre-JORC??... anyone?

With their other Fe projects plus plenty of other mineral bases covered - I think I'll be part of GIR for a long time to come.

-relieved to be 'in' on this one finally - dukey

 

[grace]

I have finally bought into GIR (in a small way) on last weeks sp. correction - after kicking myself endlessly for not getting in last year around the 60c mark!! Will look at buying more on the coming weeks.

Might be just in time too - with some more good looking DSO Fe results from their 100% owned western ck project.
Most Fe% 's around 56-60%, 28-38m thicknesses.
Init. resource estimate due by end of June..... would that be JORC compliant - or pre-JORC??... anyone?

With their other Fe projects plus plenty of other mineral bases covered - I think I'll be part of GIR for a long time to come.

-relieved to be 'in' on this one finally - dukey

Welcome, aboard Dukey...we seem to have quite a few similar holdings from memory (coal seam gasers etc).

I believe from what I read that it should be a jorc resource out by end of June for Western Ck. They already have an initial target of 50 - 100 mill tonne DSO.

I'm glad today's announcement says that todays assays will be included in the initial resource statement. Hopefully that should not disappoint the market.

They are drilling on so many fronts, and all on good deposits that a continual news flow should help to ensure we don't get a big correction if the whole market tanks again (but nothing is certain these days).

GIR seems to be slowly getting a bit of coverage by the brokers.

 

[Dukey]

Welcome, aboard Dukey...we seem to have quite a few similar holdings from memory (coal seam gasers etc).

I believe from what I read that it should be a jorc resource out by end of June for Western Ck. They already have an initial target of 50 - 100 mill tonne DSO.

I'm glad today's announcement says that todays assays will be included in the initial resource statement. Hopefully that should not disappoint the market.

They are drilling on so many fronts, and all on good deposits that a continual news flow should help to ensure we don't get a big correction if the whole market tanks again (but nothing is certain these days).

GIR seems to be slowly getting a bit of coverage by the brokers.

We do indeed - lets hope it a case of 'great minds think alike....' as opposed to 'fools never differ'!!!!

I was really keen to get into GIR last year - but had no spare cash - now I've cashed in some managed funds and decided that if MLC want to waste my $$ - then I might as well do it myself!!! I've done way better than them for some time now anyway - so bugger 'em - let them lose someone elses money!!

Latest correction back to $2 seemed a good opportunity to get on board GIR. ..... should be an interesting ride through just about every resource under the sun - excluding oil/gas/coal (from memory).
First stop : Fe Ore.

lets go!!

(holding GIR - yippee)

 

[Dukey]

Noticed a big volume spike today - up to 10.3M shares traded - way above normal for GIR. On viewing the course of trading data on comsec - there were two parcels of 5mill shares bought just after open for $2 /sh exactly.
the trades were marked XTOS which apparently means:

XT = crossed trade; OS = overseas.

So an overseas buyer/trader doing something with 10mill shares..... does anyone have suggestions as to what is/could be going on here.... sounds very interesting.

-dukey

 

[grace]

Noticed a big volume spike today - up to 10.3M shares traded - way above normal for GIR. On viewing the course of trading data on comsec - there were two parcels of 5mill shares bought just after open for $2 /sh exactly.
the trades were marked XTOS which apparently means:

XT = crossed trade; OS = overseas.

So an overseas buyer/trader doing something with 10mill shares..... does anyone have suggestions as to what is/could be going on here.... sounds very interesting.

-dukey

I thought it might have been you topping up!

If not, well the European road show seems to be working, and we might see a substancial holder notice in the next couple of days (if the purchase all by one party).

 

[Dukey]

I thought it might have been you topping up!

If not, well the European road show seems to be working, and we might see a substancial holder notice in the next couple of days (if the purchase all by one party).

In my wildest dreams ... maybe!!!

- $20mill worth of GIR would look very nice on the meagre comsec portfolio statement!!....
but I probably wouldn't be here (no offense ASF ) - I'd be swimming in my olympic sized swimming pool filled with champas.!!!

.... maybe next week.

 

[Boggo]

It was probably just one of those spaced out Elliott Wave believers.
They will buy anything that has a pattern
.

 

[grace]

Tim Knapton (MD of an investment bank) has a write up about Giralia on p74-75 of July 08 Smart Investor magazine.


After discussing Beebyn (where there is an advanced prefeas study), he then mentions Beebynganna Hills and then says

......"Analysts estimate Giralia has found 55 million tonnes, grading about 55%. Further drilling is needed to identify a mineable ore body about four times that size for it to be economic - which seems highly probable - evolving into a 15 mta project. These resources will probably be of value to Sinosteel, which is developing a 149-million-tonne resource only 10 - 15 kms away".

Now based on that, the only one they could be thinking of is Beebynganna Hills which is that distance from the MIS deposit?????????? I didn't think that they had any assays even back for Beebynganna!

I'm going to suggest they got the location wrong, and it is in fact Western Ck near BHP and Newman. So this suggests a target of over 200 million tonne for there. Where else could they be thinking of? I'm very confused!!!!!!

You know, I just read back over Beebynganna Hills.....strike of 11 kms long. Initial target of 30-50 million tonne. I guess 200 million tonne could be possible as this is an initial target. I'll be jumping for joy if there is that much there!

Anyone else read the article? (analyst seems to know more than reported to the ASX!)

 

[grace]

Tick Tock, Tick Tock....where is the initial jorc for Western Ck due June 08? No reason to believe it will be bad, with some strikes to surface and mostly in the 57 - 60 % fe. More than 50 mill tonne would be nice, and closer to 100 mill would be very good.

 

[Dukey]

Tick Tock, Tick Tock....where is the initial jorc for Western Ck due June 08? No reason to believe it will be bad, with some strikes to surface and mostly in the 57 - 60 % fe. More than 50 mill tonne would be nice, and closer to 100 mill would be very good.

Just bought a few more today - Avg price now $2.20 for me.
So - bring it on!!!!!!!!!!
JORC us baby!!! not that W. Ck is likely to be a huge resource, but it's a start and a good location.

-Dukey

 

[grace]

Now that MMX missed out on MIS, I'm thinking that GIR's mid-west deposits might be of interest to them. Earaheedy is the mother of all deposits, so let's just see what unfolds this year. Holding and hoping I guess.

You know, if GIR had had Andrew Forrest at the wheel, we would be the ones filling the boats up now.

Western Creek initial jorc was due today I thought.

Here are some pictures of Mt Whaleback (BHP's mine next door).

http://maps.google.com/?q=Newman,+W...2526&spn=0.056576,0.11158&t=h&z=14&iwloc=addr

 

[Dukey]

Now that MMX missed out on MIS, I'm thinking that GIR's mid-west deposits might be of interest to them. Earaheedy is the mother of all deposits, so let's just see what unfolds this year. Holding and hoping I guess.

You know, if GIR had had Andrew Forrest at the wheel, we would be the ones filling the boats up now.

Western Creek initial jorc was due today I thought.

Here are some pictures of Mt Whaleback (BHP's mine next door).

http://maps.google.com/?q=Newman,+W...2526&spn=0.056576,0.11158&t=h&z=14&iwloc=addr

Geez - shes been bleeding recently - along with many other of course. Trust me to buy in a few weeks early!!!!
No matter - this is an investment not a short term trade for me - great assets and locations... bring on the JORC.