GIR - Giralia Resources

[doogie_goes_off]

Yes agreed, this one still looks worth a punt. I am assuming from their tenement holdings that they have included exploration expenditure for the next year as a non-current liability, meaning they have heaps of cash, not that much required spending, and an Iron resource worth a deecent amount for near term sale if required. The books look good, I hope there is still some exploration activity on their favoured prospects.

 

[Sean K]

GIR looking like a potential breakout, but this region has been difficult. Base looks to be in though, unless the 1.1 trillion goes down the toilet.

 

[stu_lee44]

Still holding this one. I should have bought BRM first and then back to GIR. But life is always trading off, sometimes you make wrong decisions. GIR's management never disappoint me from 2006 to 2008. Never imagine I could have a chance to get it back at 30c level after I sold it in 2008. When it touched 30c, I just can't help myself to put all my punts in. Hope it will attract MIS or someone else and then we might fly to sky.

 

[Sean K]

Unusual move yesterday clearing the hurdle at 45 and then powering ahead. Should get a speeding ticket you'd expect, but the volume was't that significant I suppose. In retrospect another obviously oversold junior loaded with cash and some good assest which clearly bottomed at the 30c mark. US tanking tonight and I expect our markets to go through some serious consolidation after this latest run which looked a bit overcooked, so this will probably pull back as well. Just have to wait for another opportunity I suppose.

 

[prawn_86]

An entry between .3 and .35 when they were trading at cash backing really was a no brainer wasnt it

Why do i never act on any of the opportunities i see

 

[Sean K]

An entry between .3 and .35 when they were trading at cash backing really was a no brainer wasnt it

Why do i never act on any of the opportunities i see

LOL. I reckon you'll get another opportunity in a few weeks here Prawn. I think the bear might be out of the closset again and we'll see some lemmings running for the hills, probably me included. Must keep all these cashed up juniors in mind after the next capitulation....

 

[rhyslivs]

I think I might have missed something... Care to elaborate shag?

Some nice results out today, don't think it will spare it an inevitable tumble though.

 

[Sean K]

I think I might have missed something... Care to elaborate shag?

Some nice results out today, don't think it will spare it an inevitable tumble though.

He probably meant the run up in the sp the past couple of days followed by 2 price sensitive anns.

And they're good ones too. GIR are developing quite a suite of IO deposits scattered about the place. They'll probably IPO them down the track. LOL


ASX ANNOUNCEMENT
INITIAL IRON ORE MINERAL RESOURCE ESTIMATE FOR ANTHIBY WELL CHANNEL IRON PROJECT
• Initial iron ore Mineral Resource for Giralia’s 100% owned Anthiby Well project.
o 63.5 million tonnes @ 50.5%Fe (55.8% CaFe), including
o 37.6 million tonnes @ 53.6%Fe (59.1% CaFe)
• This maiden estimate for the Anthiby Well channel iron deposit (“CID”) is based on an 87 hole first pass drilling program completed in December 2008.
• The resource is near surface; within ~40 metres of natural land surface.
• Drilling results include 32 metres @ 55.1%Fe incl. 24 metres @ 56.0%, 22 metres @ 56.3%Fe, and 18 metres @ 56.2%Fe.



ASX ANNOUNCEMENT
EXCELLENT RESULTS FROM INITIAL DRILLING AT YERECOIN MAGNETITE PROJECT
• Initial wide spaced drilling at Yerecoin magnetite project returns positive results;
o Intersections include;
72 metres @ 32.4% Fe including 56 metres @ 35.7% Fe
50 metres @ 30.3% Fe within 116.3 metres @ 21.7% Fe
• Excellent magnetic separation results from sighter Davis Tube Testwork
Typical DTR concentrate grades > 70% Fe, < 2% SiO2
Typical DTR weight recoveries > 40%
• Exceptionally coarse grind size for magnetite liberation
• Key is existing railway within 1 kilometre

 

[stu_lee44]

72 metres @ 32.4% Fe including 56 metres @ 35.7% Fe
50 metres @ 30.3% Fe within 116.3 metres @ 21.7% Fe

Is it good news?It's too low,isn't it?Anyone can explain to me?3x

 

[Sean K]

72 metres @ 32.4% Fe including 56 metres @ 35.7% Fe
50 metres @ 30.3% Fe within 116.3 metres @ 21.7% Fe

Is it good news?It's too low,isn't it?Anyone can explain to me?3x

That's called magnetite stu. GIR have a mix of iron deposits. Hematite is the best because it can be shipped directly (Direct Shipping Ore) without beneficiation. Magnetite needs some work done to it before shipping and is therefore more expensive. Maybe do a google on it. The good thing out of that result was the Davis Tube testing. High concentrate and low impurities. Not soo sure about the recovery weight.

• Excellent magnetic separation results from sighter Davis Tube Testwork
Typical DTR concentrate grades > 70% Fe, < 2% SiO2
Typical DTR weight recoveries > 40%

 

[shag]

yes sorry for the language guys, but there seems to be so many sharp rises then an announcement recently.
i realise some is due to pure speculation.
at least i got a small handful.

 

[stu_lee44]

Thanks Ken. That's why ACS's 38% magnetite looks good and the same here. But frankly speaking, I hope there's some news coming for Beebyn....guess they would split some assets

That's called magnetite stu. GIR have a mix of iron deposits. Hematite is the best because it can be shipped directly (Direct Shipping Ore) without beneficiation. Magnetite needs some work done to it before shipping and is therefore more expensive. Maybe do a google on it. The good thing out of that result was the Davis Tube testing. High concentrate and low impurities. Not soo sure about the recovery weight.

• Excellent magnetic separation results from sighter Davis Tube Testwork
Typical DTR concentrate grades > 70% Fe, < 2% SiO2
Typical DTR weight recoveries > 40%

 

[shag]

http://en.wikipedia.org/wiki/Iron_ore

its quite informative.
looks like its got some friends today on the market.

 

[Sean K]

Seems to be breaking final sideways band here, which looks important. Although, maybe the recent higher highs and lows were the signal. I'm still expecting the overall market to come off from this bear rally, so this will probably follow. Or, we've seen the bottom...

 

[stu_lee44]

very happy today.sold@.59 and got more back @.55.

Ken,from the chart,does it seem to go back 70c-75c level?I think if it rouches 74c very quickly,the price will go down 50c again and look for support.

Seems to be breaking final sideways band here, which looks important. Although, maybe the recent higher highs and lows were the signal. I'm still expecting the overall market to come off from this bear rally, so this will probably follow. Or, we've seen the bottom...

 

[grace]

Well, for those that were smart enough to buy low, you are doing nicely. Kennas, I wish I had your talent for that. I'm a fundamentalist you know, but I'd sure like to get the charting bit more up to scratch.

Anyway, Giralia continue to drill up some more of that iron ore. Can't complain about any of the grades as usual. I'm sitting on a loss this time round. Perhaps the swine flu will be the trigger for the next down leg......might be time to offload some stocks that I should not have loved so much. Giralia has been one of those! There was just soooo much to like about it though.

 

[Sean K]

Damn it's hard to keep track of all their projects.

They are gathering toether quite a suite of IO exploration assets that need to be disected.

Then they have $70m ish and their investments...

Lets try and make heads and tails of their last Qtly with updated resources over the past month or so.


Numerous significant drill intersections were returned from continuing resource drilling programs at the Company’s wholly owned iron ore projects;

• Western Creek Iron Ore Project: Giralia’s JORC hematite resource at Western Creek was increased by 38% to 40.7 million tonnes@ 57.3% Fe through addition of mineralisation on newly acquired tenements. Strong new results from a 71 hole drilling program are likely to substantially further extend the current resource, including; 36 metres @ 58.0% Fe, 22 metres @ 58.7% Fe and 32 metres @ 56.5% Fe. Mineralised Marra Mamba Formation was also confirmed by initial drilling of newly acquired Homestead prospect 10 km to the north including 20 metres @ 55.2% Fe and 6 metres @ 57.3% Fe.

increased to 52.4 million tonnes on 11 March

• Earaheedy Iron Ore Project: Positive assay results were returned from a 121 hole RC drilling program at the greenfields Earaheedy iron ore project, with significant results returned from 4 of the 8 hills drilled including; 20 metres @ 55.7% Fe, 12 metres @ 57.3% Fe (from surface), and 12 metres @ 56.1% Fe within 38 metres @ 53.6% Fe (open at end of hole). A substantial follow up program is being permitted including testing of many of the remaining 15 untested hills of high grade hematite outcrop.

• Anthiby Well Iron Ore Project: New discovery of thick zones of channel iron (CID) mineralisation confirmed by a 87 hole drilling program completed at Anthiby Well prospect, 100 km west of Paraburdoo in the Pilbara region. Results include 32 metres @ 55.1%Fe including 24 metres @ 56.0%, 22 metres @ 56.3%Fe, and 18 metres @ 56.2%Fe.

Initial resource out on 27 Mar

Initial iron ore Mineral Resource for Giralia’s 100% owned Anthiby Well project.
o 63.5 million tonnes @ 50.5%Fe (55.8% CaFe), including
o 37.6 million tonnes @ 53.6%Fe (59.1% CaFe)
• This maiden estimate for the Anthiby Well channel iron deposit (“CID”) is based on an 87 hole first pass drilling program completed in December 2008.
• The resource is near surface; within ~40 metres of natural land surface.
• Drilling results include 32 metres @ 55.1%Fe incl. 24 metres @ 56.0%,

• Beebyn Iron Ore Project: Results from an 82 hole drilling program confirm extensions to the initial JORC hematite resource of 7.2 million tonnes @ 57.2% Fe at the Company's 100% owned Beebyn-Weld Range deposit in WA's Mid West with intersections including 12 metres @ 59.3 %Fe. Results from the first drill testing of 3 of 7 hematite zones discovered at nearby Beebynganna Hills are encouraging, including 10 metres @ 57.7% Fe, and 6 metres @ 61.8%Fe.

And then then Yerecoin Mag deposit ann on 21 April

EXCELLENT RESULTS FROM INITIAL DRILLING AT YERECOIN MAGNETITE PROJECT
• Initial wide spaced drilling at Yerecoin magnetite project returns positive results;
o Intersections include;
72 metres @ 32.4% Fe including 56 metres @ 35.7% Fe
50 metres @ 30.3% Fe within 116.3 metres @ 21.7% Fe
• Excellent magnetic separation results from sighter Davis Tube Testwork
Typical DTR concentrate grades > 70% Fe, < 2% SiO2
Typical DTR weight recoveries > 40%
• Exceptionally coarse grind size for magnetite liberation
• Key is existing railway within 1 kilometre

CORPORATE

In addition to a cash balance of around $70 million at 31 December 2008, the Company also holds the following strategic stakes in several ASX listed companies, largely as a result of the spin-off of independently managed and funded companies over the last 2 years. Giralia shareholders have benefited through priority IPO entitlements and in specie distributions.

PacMag Metals Limited ("ASX: PMH") copper Giralia ~10.4% stake
U3O8 Limited ("ASX: UTO” uranium Giralia ~16.3% stake
Zinc Co Australia Limited ("ASX: ZNC”) zinc Giralia ~12% stake
Carpentaria Exploration Limited ("ASX:CAP") NSW, Qld Giralia ~10.4% stake
Hazelwood Resources Ltd ("ASX: HAZ") nickel Giralia ~ 5% stake
Peninsula Minerals Limited ("ASX: PEN") uranium Giralia ~ 2% stake

Too lazy at the moment to check what all that's worth....:


I wonder when the next IPO comes out?

 

[grace]

Damn it's hard to keep track of all their projects.

I wonder when the next IPO comes out?

I suspect there will not be one this year as IPO's have not been going so well of late, and there are very few around in 09. The punters are more careful these days. Just my guess though.

 

[Sean K]

very happy today.sold@.59 and got more back @.55.

Ken,from the chart,does it seem to go back 70c-75c level?I think if it rouches 74c very quickly,the price will go down 50c again and look for support.

No price targets from here, but next big resistance is .70-.75, yes. But the chart isn't saying it will get there other than it's on a 2 month uptrend, and broken .50 ish resistance, which should be new support. Sellers coming in around the .60 level as clearly shown by the intraday sell offs. Looks short term bearish to me. If I was short term trading it I would have taken profits too.

 

[Sean K]

An entry between .3 and .35 when they were trading at cash backing really was a no brainer wasnt it

Why do i never act on any of the opportunities i see

LOL. I reckon you'll get another opportunity in a few weeks here Prawn.

Or, maybe not. :

I hate it when a stock runs away and you don't get the chance to put grandmas kidney on it. LOL

I've seen this sort of thing too many times to get excited though. Stocks go up, they go sideways, they go down. Never just verticle up for ever. And the harder they go up, the harder they go down.