GOA - Gold Anomaly

[drunkestdriver]

Sao Chico – Update on production commencement
● As a result of documentation delays related to importation licence approval for the processing equipment, the shipment is now scheduled for early May for delivery to site in the second half of July.

Ive been following GOA for about a year now in regards to the sao chico mine, because it sounds so good, but it seems to have delay after dalay.

does anyone have an opinion or any info on this latest delay?

 

[boronia]

Here is a rough multiple's calculation for this stock:

Given,
- 12 months production (using gravity separation) unit is 24,000 oz
- Gold price is 1,000 $/oz
- Costs are 400 $/oz
Then,
- Earnings are about 14.4 million

Given,
- Profits tax of 40% goes to owner (WM)
Then,
- Net earnings are 8.64 million

Given,
- Mkt Cap is about 20 million dollars
Then
- Mkt Cap to 2010/11 earnings multiple is 2.3, which seems pretty low

This (potentially conservative) multiple discounts any exploration success of their PNG projects which is underway

 

[Putty7]

Here is a rough multiple's calculation for this stock:

Given,
- 12 months production (using gravity separation) unit is 24,000 oz
- Gold price is 1,000 $/oz
- Costs are 400 $/oz
Then,
- Earnings are about 14.4 million

Given,
- Profits tax of 40% goes to owner (WM)
Then,
- Net earnings are 8.64 million

Given,
- Mkt Cap is about 20 million dollars
Then
- Mkt Cap to 2010/11 earnings multiple is 2.3, which seems pretty low

This (potentially conservative) multiple discounts any exploration success of their PNG projects which is underway

I think Springtree getting involved has put a lot of punters off this one boronia, a lot of dillution to keep feeding the top heavy board its salaries for little achievements to date, not down ramping, I held these at one point and elected to sell them after the Springtree announcement, I hope they do well for you but just keep and eye on the downside as well, best of luck.

 

[boronia]

I think Springtree getting involved has put a lot of punters off this one boronia, a lot of dillution to keep feeding the top heavy board its salaries for little achievements to date, not down ramping, I held these at one point and elected to sell them after the Springtree announcement, I hope they do well for you but just keep and eye on the downside as well, best of luck.

Hmmm good point Putty7, I haven't factored in the dilution factor associated with the Springtree loan - this is going to change all of the above numbers. Thanks for the head's up

 

[lawyer82]

waiting for some good announcements, it seems like a good story! Surely, once production starts, the only way is up?

 

[Sean K]

Has anyone seen how much the EDs earn of this company.

Starr: $275k
Chapple: $206k

Plus all the free options they've been giving each other the past few years...

How much has the company earn't or even likely too?

I am flabbergasted at the payments to management of exploration companies. They should be on ZIP until they earn the company a profit!

 

[boronia]

The last couple of weeklies show this stock trending above 30 and 60 day moving averages. Last week's volume was the strongest in the 12 months.

I wonder if finally there will be some news around the Sao Chico gravity plant arriving on site for commissioning. Recently GOA have farmed a portion of the Sao Chico show to Kenai Resources (in a rather complex way that is difficult to understand) in order to focus on the Crater Mountain (PNG) property drilling program which they started on Nov 1. If they can repeat some of the drilling results that have been found before (see below) then this just might turn out to be a company maker.

http://www.newguineagold.ca/projects/crater/CraterMtnTechReport.html

 

[Dangerous]

prediction - late Nov/early dec trading halt, amazing drilling resuls in PNG, price goes ape droppings, trading halt, capital raising and then...... announce some time next March that Brazil equipment has arrived again. (remember this was going to be producing from March 10)

Good little trading stock though....

 

[Miner]

prediction - late Nov/early dec trading halt, amazing drilling resuls in PNG, price goes ape droppings, trading halt, capital raising and then...... announce some time next March that Brazil equipment has arrived again. (remember this was going to be producing from March 10)

Good little trading stock though....

Hi Dangerous

Great prediction on GOA.
Probably if it is predicted on stars then this prediction should go to astrostuff thread as well or if it was predicted over a glass of red on saturday then >>>>>>>>>>

 

[Dangerous]

yeah i got out after booking a 40% profit in a fortnight and put in a smaller order at a lower price.

if i miss out, i miss out, but would not be surprised to see this go ape droppings in the next few weeks

 

[boronia]

BRW magazine mentions GOA this week which may give the SP a bit of short term support.

Fundamentally this stock still looks good, Sao Chico still has not come on line and is overdue for an update, but the big opportunity is still Crater Mtn and the pending results from the deep drilling program.

Technically, the head's look oversold and the options look very attractive, IMO.

boronia

 

[boronia]

Today NCM announced the following from their Wafi Golpu Project in PNG:

The latest drill hole returned an 883-metre intersection grading 2.15 per cent copper and 2.23 grams of gold a tonne from a depth of 913 metres. It is the highest-grade intersection to date at the Golpu system, which was extended 70 metres to the north by the hole.

The partners had previously told the market the resource estimate at Wafi-Golpu stood at 16 million ounces of gold and 4.9 million tonnes of copper, but that it had the potential to be expanded to a world-class 30 million ounces of gold and 8 million tonnes of copper.

Interestingly,

Mr Macnab's view is that the diatreme-breccia zone outlined at Nevera is analogous to the diatreme-hosted geological setting at the 6.5Moz Wafi Creek

boronia

 

[Slipperz]

Bad news the PNG govt has said down tools!

No licence means no gold

 

[Crom]

The announcement only applies to Ferg Island, not Crater Mtn or Sao Chico. As such there is still plenty of gold!

My thoughts re the announcement are why did they not clarify to the MKT that their other sites are unaffected. Why also did they not advise that the likelihood of mining Ferg Island was always slim.

While I still rate the spec potential of this stock (have a holding and trade it as well), I am dissapointed with management and the panic this announcement caused. It needed to more fully explain the situation re all GOA's operations, and I would hope that in the light of the panic selling they caused, they will issue further guidance re their fundamentals on Monday morning.

Cheers

 

[late_start]

Anyone know what is happenning to GOA? Since this morning, 29% jump so far..

 

[derty]

There was a recent article in the AFR about Peter MacNab and his involvement in the discovery of Frieda River, Misima, Wafi-Golpu and Lihir that went on to mention his current role with GOA and Crater Mt.

There is also pending drilling results from Crater Mt.

It is probably a combination of the two that caused today's run.

 

[Slipperz]

There was a recent article in the AFR about Peter MacNab and his involvement in the discovery of Frieda River, Misima, Wafi-Golpu and Lihir that went on to mention his current role with GOA and Crater Mt.

There is also pending drilling results from Crater Mt.

It is probably a combination of the two that caused today's run.

Certainly beat the market today didn't it!

 

[alexc2005]

What is happening with this stock?

Positive announcement and down 13% at the moment?

Should have got out at 5c!!

 

[springhill]

POSITIVE METALLURGICAL RESULTS FOR CRATER MOUNTAIN, PNG
Highlights
-Metallurgical testwork confirms good recovery from Mixing Zone deposit
-Standard 75 micron crushing with agitation cyanide leaching recovers some 80% of the gold.
-Company believes over 90% gold recoverable by ultra-fine grinding and agitation cyanide leaching

SIGNIFICANT GRAPHITE DEPOSIT AT GOLDEN GATE PROJECT AT CROYDON, QUEENSLAND
-Previously estimated 20Mt @ 5.5% graphite
-Near surface graphite mineralisation was drilled in the 1980’s and confirmed by further drilling in the 1990’s at “Golden Gate” Project
-Strong graphite exceeding 7.5 meters in thickness has been outlined


GRAPHITE OVER 50% AT JOLLY TAR PROSPECT, CROYDON PROJECT QLD
● High visual content reported – over 50% graphite in drill hole widths of in excess of 10 meters in holes drilled for gold at Jolly Tar
● Graphite reported in 53 of 59 drill holes along strike for ~800 metres
● Drilled area is east of a strong persistent gradient array IP anomaly that has yet to be drill tested
● This new IP anomaly may represent a large undiscovered graphite and/or gold zone
● Jolly Tar now a graphite and gold target
● Plans for drill programme underway