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No thankfully!
Got my extra shares at 21c a week or two ago that I missed before the last big rally.
HRZ - Horizon Minerals
- Thread starter philmac
- Start date
No thankfully!
Got my extra shares at 21c a week or two ago that I missed before the last big rally.
I guess if I left it go till October it might make it to a full 12 months without a comment on IRC on ASF. I don’t wanna say this one is a stinker, but he sure aint a market darling.
12c today, dipping a whole lot with RWD after their deflating rebuff in the native title hearings.
The negatives moving forward for this stock are pretty easy to spot:
1. to quote several quarterlies now “if recovery of the metal values had been simple and cost effective, the project would have been developed some time back”. A lot of experimentation is necessary to work out how to get Julia Creek economical
2. resource IGV of $1.5trillion at last year’s vanadium prices has dropped by around 2-thirds (the prices, not the amount of metal, still apparently upside to to go for that)
3. Ruane aint getting any younger
But, a bunch of the downsides last year have dissipated, at least somewhat:
1. “Rio pegging all around IRC’s leases” Dr Ruane has apparently said – given the wild ride Rio have been on over the past 12 months I really don’t think there will be much attention paid to this corner of the world. Not for a long long time. Big miners are bureaucracies, and a unit inside Rio trying to score funding to advance a hoped-for outcropping additional to IRC’s one aint gonna get any oxygen
2. Maybe IRC don’t need to put together an inhouse lab now, with the backlog of work at professional labs drying up I would have thought
3. Apparently Ruane sacked a subpar project manager and appointed a gun
There is $4m in the bank, at current cash burn enough to survive for 2.5 years. The Menzies gold mining should bring in some coin.
So, 2009 is looking another year of the IRC folks plugging away at it. Hopefully a decent flow sheet can be sorted before 2011. The company spoke a while back about starting offtake talks (dunno how that progressed), perhaps once process viability shown a JV partner (Chinese steel mill?) might show up.
12c today, dipping a whole lot with RWD after their deflating rebuff in the native title hearings.
The negatives moving forward for this stock are pretty easy to spot:
1. to quote several quarterlies now “if recovery of the metal values had been simple and cost effective, the project would have been developed some time back”. A lot of experimentation is necessary to work out how to get Julia Creek economical
2. resource IGV of $1.5trillion at last year’s vanadium prices has dropped by around 2-thirds (the prices, not the amount of metal, still apparently upside to to go for that)
3. Ruane aint getting any younger
But, a bunch of the downsides last year have dissipated, at least somewhat:
1. “Rio pegging all around IRC’s leases” Dr Ruane has apparently said – given the wild ride Rio have been on over the past 12 months I really don’t think there will be much attention paid to this corner of the world. Not for a long long time. Big miners are bureaucracies, and a unit inside Rio trying to score funding to advance a hoped-for outcropping additional to IRC’s one aint gonna get any oxygen
2. Maybe IRC don’t need to put together an inhouse lab now, with the backlog of work at professional labs drying up I would have thought
3. Apparently Ruane sacked a subpar project manager and appointed a gun
There is $4m in the bank, at current cash burn enough to survive for 2.5 years. The Menzies gold mining should bring in some coin.
So, 2009 is looking another year of the IRC folks plugging away at it. Hopefully a decent flow sheet can be sorted before 2011. The company spoke a while back about starting offtake talks (dunno how that progressed), perhaps once process viability shown a JV partner (Chinese steel mill?) might show up.
Looks like these ones don't only have the value of RWD behind them and a $trillion dollar V resource (Possibly not economically viable though)
They have released some information on there Binduli North Gold Project
has been slowly climbing recently and today a jump of 30%+ will be watching for more development..
They have released some information on there Binduli North Gold Project
has been slowly climbing recently and today a jump of 30%+ will be watching for more development..
Well still riding RWD back, hoping that they can move onto there V project.
Not sure if anyone else is following this one it has actually increased more then RWD which is interesting enough.
Will have to start looking into RWD to see what they have thats pushing this drive up in price.
Not sure if anyone else is following this one it has actually increased more then RWD which is interesting enough.
Will have to start looking into RWD to see what they have thats pushing this drive up in price.
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Enig it may be that the coast is clear after completion of the capital raising at 0.12 which enables further exploration and also that there is now a base for the short term ?
Also the mention of the RWD stock but in the last quarter I missed any reference to it.
Does anyone have the figures for amount of shares they hold in RWD?
http://www.proactiveinvestors.com.a...td-has-spectacular-gold-hits-in-wa-68018.html
● 32m @ 24.05g/t Au from 32m (including 4m @ 194.78g/t Au from 44m) – TRC1608
● 36m @ 2.02g/t Au from 36m (including 24m @ 2.80g/t Au from 40m) – TRC1605
● 52m @ 2.36g/t Au from 64m (including 12m @ 4.26g/t Au from 64m) – TRC1609
● 24m @ 2.85g/t Au from 52m (including 4m @ 9.14g/t Au from 72m) – TRC1603
today's vwap was 11.32c on record volume traded 2,266,451 so should start appearing on people's radar's this week imo
P.S. Tried to upload a 10 yr daily chart but wouldn't work..
Cheers tela
--------------------------------------------------------
previous ann 22/03/16 'Intermin Resources Ltd buys further gold tenure in WA goldfields'
Cashed up Intermin Resources Ltd (ASX:IRC) continues to deliver on a strategy to consolidate the fragmented Menzies to Kalgoorlie corridor in Western Australia, to grow its gold ounce resources.
Intermin will issue shares worth $375,000 to Metaliko Resources Ltd (ASX:MKO) to acquire 100% of their tenement package of: four Exploration Licenses, 56 Prospecting Licenses, one miscellaneous License and five Mining Leases covering 141 square kilometres.
The projects to be acquired include:
- Highway West south of Menzies and contiguous with Intermins current land holding in the area;
- Goongarrie Lady deposit that adjoins Intermins recently acquired Goongarrie gold project 40 kilometres south of Menzies;
- Baden Powell and Windanya on the Bardoc Shear Zone 60 kilometres south of Menzies;
- Tenure on the Zuleika and Kunanulling shear zones 55 kilometres Northwest of Kalgoorlie; and
- Tenure on the Bullabulling shear zone Southwest of Coolgardie.
Jon Price, managing director, said today:
This latest acquisition is another important step in our strategy of consolidating the Menzies to Kalgoorlie corridor and conducting systematic exploration to grow mineral inventory to support a mine development plan and processing plant in the Menzies region.
Data integration and project review is now underway with exploration drilling anticipated in the next quarter following the drill campaigns under way at Teal and Menzies, Price said.
Intermin will commence a detailed database review to validate previously identified targets yet to be followed up and generate new exploration targets in the area of interest.
Recent drilling:
In March, Intermin grew the gold resource base at its flagship Menzies project by 130% to 171,310 ounces, north of Kalgoorlie, following exploration programs in 2014/15.
Intermin's total resource inventory is 314,370 ounces at 2.65g/t gold. This does not yet include recent higher grade deeper intercepts recently reported from drilling at Selkirk where Intermin had a 3 metre at 88.6g/t gold hit.
The Menzies projects are within a 14 kilometre strike corridor located 130 kilometres north of Kalgoorlie, where significant past production from high-grade open pit and underground mines has occurred up to the late 1990s.
Strategy:
Intermin's aim is to develop a 3-5 year mine plan to support the installation of a simple, small tonnage high grade processing plant that will become a strategic asset for the region, with a Menzies Pre-Feasibility Study (PFS) underway.
This study includes the economic assessment of a small tonnage high grade processing plant at Menzies to treat ore and other third party ore that is currently carted over 130 kilometres for processing.
Jon Price said recently, "Our ultimate aim is to use milling infrastructure we have access to in Perth to construct a flexible low cost 3-400,000 tonnes per annum circuit in the Menzies area to process not only our own ore, but potentially any third party ore that is mined in close proximity.
"The focus for us will be on cash margins, not scale."
Intermin held cash and listed investments of $6.1 million in February 2016, with a low burn rate.
With directors and associates owning 45% of the company, the interests of shareholders are even more firmly aligned with those of the company's.
-- please dyor as always
Cheers tela
http://www.proactiveinvestors.com.a...rther-gold-tenure-in-wa-goldfields-67646.html
● 32m @ 24.05g/t Au from 32m (including 4m @ 194.78g/t Au from 44m) – TRC1608
● 36m @ 2.02g/t Au from 36m (including 24m @ 2.80g/t Au from 40m) – TRC1605
● 52m @ 2.36g/t Au from 64m (including 12m @ 4.26g/t Au from 64m) – TRC1609
● 24m @ 2.85g/t Au from 52m (including 4m @ 9.14g/t Au from 72m) – TRC1603
today's vwap was 11.32c on record volume traded 2,266,451 so should start appearing on people's radar's this week imo
P.S. Tried to upload a 10 yr daily chart but wouldn't work..
Cheers tela
--------------------------------------------------------
previous ann 22/03/16 'Intermin Resources Ltd buys further gold tenure in WA goldfields'
Cashed up Intermin Resources Ltd (ASX:IRC) continues to deliver on a strategy to consolidate the fragmented Menzies to Kalgoorlie corridor in Western Australia, to grow its gold ounce resources.
Intermin will issue shares worth $375,000 to Metaliko Resources Ltd (ASX:MKO) to acquire 100% of their tenement package of: four Exploration Licenses, 56 Prospecting Licenses, one miscellaneous License and five Mining Leases covering 141 square kilometres.
The projects to be acquired include:
- Highway West south of Menzies and contiguous with Intermins current land holding in the area;
- Goongarrie Lady deposit that adjoins Intermins recently acquired Goongarrie gold project 40 kilometres south of Menzies;
- Baden Powell and Windanya on the Bardoc Shear Zone 60 kilometres south of Menzies;
- Tenure on the Zuleika and Kunanulling shear zones 55 kilometres Northwest of Kalgoorlie; and
- Tenure on the Bullabulling shear zone Southwest of Coolgardie.
Jon Price, managing director, said today:
This latest acquisition is another important step in our strategy of consolidating the Menzies to Kalgoorlie corridor and conducting systematic exploration to grow mineral inventory to support a mine development plan and processing plant in the Menzies region.
Data integration and project review is now underway with exploration drilling anticipated in the next quarter following the drill campaigns under way at Teal and Menzies, Price said.
Intermin will commence a detailed database review to validate previously identified targets yet to be followed up and generate new exploration targets in the area of interest.
Recent drilling:
In March, Intermin grew the gold resource base at its flagship Menzies project by 130% to 171,310 ounces, north of Kalgoorlie, following exploration programs in 2014/15.
Intermin's total resource inventory is 314,370 ounces at 2.65g/t gold. This does not yet include recent higher grade deeper intercepts recently reported from drilling at Selkirk where Intermin had a 3 metre at 88.6g/t gold hit.
The Menzies projects are within a 14 kilometre strike corridor located 130 kilometres north of Kalgoorlie, where significant past production from high-grade open pit and underground mines has occurred up to the late 1990s.
Strategy:
Intermin's aim is to develop a 3-5 year mine plan to support the installation of a simple, small tonnage high grade processing plant that will become a strategic asset for the region, with a Menzies Pre-Feasibility Study (PFS) underway.
This study includes the economic assessment of a small tonnage high grade processing plant at Menzies to treat ore and other third party ore that is currently carted over 130 kilometres for processing.
Jon Price said recently, "Our ultimate aim is to use milling infrastructure we have access to in Perth to construct a flexible low cost 3-400,000 tonnes per annum circuit in the Menzies area to process not only our own ore, but potentially any third party ore that is mined in close proximity.
"The focus for us will be on cash margins, not scale."
Intermin held cash and listed investments of $6.1 million in February 2016, with a low burn rate.
With directors and associates owning 45% of the company, the interests of shareholders are even more firmly aligned with those of the company's.
-- please dyor as always
Cheers tela
http://www.proactiveinvestors.com.a...rther-gold-tenure-in-wa-goldfields-67646.html
Re: IRC - Intermin Resources *Spectacular drill results at Teal
http://www.barchart.com/opinions/stocks/IRC.AX gives a 100% 'strong buy rating' across short/medium to long term.
dyor tela
http://www.barchart.com/opinions/stocks/IRC.AX gives a 100% 'strong buy rating' across short/medium to long term.
dyor tela
greggles
I'll be back!
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After spending a number of years in the wilderness, Intermin Resources is having a much better year this year, albeit a bit of a volatile one so far.
The company has a number of active projects. There are the Teal and Menzies-Goongarrie gold projects near Kalgoorlie in WA, the latter of which is a joint venture with Eastern Goldfields Ltd. The Teal project is currently in production and the company has recently increased production guidance to 21,000-22,000 ounces with an All In Cost of A$1,000-A$1,100 per ounce.
Intermin also owns a 50c per tonne mining royalty over Norton Gold Fields' Janet Ivy gold mine which is expected to earn the company $600,000-$700,000 in 2018.
Yesterday the company announced positive initial metallurgical testwork results from the Lilyvale prospect area, part of the Richmond vanadium project which is located in north west Queensland and covers an area of 1,520km² with a total Mineral Resource of 2,579Mt grading 0.32% V2O5 at a 0.29% cut-off grade. The project is a joint venture with AXF Vanadium Pty Ltd.
Lots of exploration going on and lots of potential. With $11.5 million in gold sales in the last quarter and $10 million cash in the bank, Intermin is well positioned to self-fund its exploration programs and increase its reserves.
The company has a number of active projects. There are the Teal and Menzies-Goongarrie gold projects near Kalgoorlie in WA, the latter of which is a joint venture with Eastern Goldfields Ltd. The Teal project is currently in production and the company has recently increased production guidance to 21,000-22,000 ounces with an All In Cost of A$1,000-A$1,100 per ounce.
Intermin also owns a 50c per tonne mining royalty over Norton Gold Fields' Janet Ivy gold mine which is expected to earn the company $600,000-$700,000 in 2018.
Yesterday the company announced positive initial metallurgical testwork results from the Lilyvale prospect area, part of the Richmond vanadium project which is located in north west Queensland and covers an area of 1,520km² with a total Mineral Resource of 2,579Mt grading 0.32% V2O5 at a 0.29% cut-off grade. The project is a joint venture with AXF Vanadium Pty Ltd.
Lots of exploration going on and lots of potential. With $11.5 million in gold sales in the last quarter and $10 million cash in the bank, Intermin is well positioned to self-fund its exploration programs and increase its reserves.
greggles
I'll be back!
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Intermin Resources reporting some good assays yesterday from the Crake prospect at the Binduli gold project.
IRC share price is currently consolidating in a tight range between 16c and 19c but it can't continue forever. I'm convinced that IRC will eventually break up and back into the 20s on the back of further assay results like these and the inevitable resource upgrades.
IRC share price is currently consolidating in a tight range between 16c and 19c but it can't continue forever. I'm convinced that IRC will eventually break up and back into the 20s on the back of further assay results like these and the inevitable resource upgrades.
greggles
I'll be back!
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Reasons I'm bullish on IRC:
- Self funded gold explorer
- A nice suite of exploration projects
- Market cap of only $40 million
- Good assay results keep coming in
- Ongoing drilling is bound to result in new discoveries and resource upgrades
- A re-rating is in my view inevitable, probably within six months.
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Some encouraging results from the companies Menzies Gold Project near Kalgoorlie.
A dozen new Prospecting Licences should keep the news flow coming.
SP has been recovering in recent weeks.
A dozen new Prospecting Licences should keep the news flow coming.
SP has been recovering in recent weeks.
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On July 29th, 2019, Intermin Resources Limited (IRC) changed its name and ASX code to Horizon Minerals Limited (HRZ).
HRZ (Gold & Silver) producer just announced revenue of $2.93M in addition to having current cash balance of $6M in the bank
With Gold & Silver flying HRZ chart look bullish with breakout (on volume) above 15/15.5c this morning.
https://asx.swingtradebot.com/equities/HRZ:ASX
https://www.marketindex.com.au/asx/hrz
Please DYOR as always.. Cheers tela
With Gold & Silver flying HRZ chart look bullish with breakout (on volume) above 15/15.5c this morning.
https://asx.swingtradebot.com/equities/HRZ:ASX
https://www.marketindex.com.au/asx/hrz
Please DYOR as always.. Cheers tela
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Got some choice ground if you compare with the current success of Black Cat Syndicate (BC8) - thesis being open pittable resources close to Kalgoorlie and toll treatment options.
Chart trending strongly, yet another 3 bagger since the March Beijing Plague low.
Not Held
Sentiment: candidate for a crash buy for me.
Horizon's tenements containing Boorara project are those in pink, mostly between Black Cat's in Yellow and Northern Star's in slater green. I guess Binduli is the pink patch to the left (West) of Kalgoorlie. Got the history and convenient to amenities. M.D graduate of West Australian School of Mines, hands on experience managing mines - they're the ones you want imo, similar to Mgts: SAR, NST, RMS, not the likes of DCN's previous M.D.
Chart trending strongly, yet another 3 bagger since the March Beijing Plague low.
Not Held
Sentiment: candidate for a crash buy for me.
Horizon's tenements containing Boorara project are those in pink, mostly between Black Cat's in Yellow and Northern Star's in slater green. I guess Binduli is the pink patch to the left (West) of Kalgoorlie. Got the history and convenient to amenities. M.D graduate of West Australian School of Mines, hands on experience managing mines - they're the ones you want imo, similar to Mgts: SAR, NST, RMS, not the likes of DCN's previous M.D.
Listen to ASX-listed Horizon Minerals MD, Jon Price talk to Matt Birney on the Bulls N’ Bears Small Cap Wrap on 6PR about Horizon’s plan to make a quick $7M from gold.
https://www.6pr.com.au/horizon-minerals-eureka-first-400k-gold-bar-comes-out-of-new-kalgoorlie-mine/
Thankfully, our AUD gold price held up really well overnight so looking at 1-3 yr HRZ chart breakout to fresh high's (& on very good volume!) bodes well for coming week imo (using 'stoxline australia' for quick analysis).
Noting HRZ are now earning 'free cash flow' of approx $7-8M till Jan '21 (plus have about $8M cash in the bank) it's a 'no brainer' imo
DYOR as always.. Cheers tela
Noting HRZ are now earning 'free cash flow' of approx $7-8M till Jan '21 (plus have about $8M cash in the bank) it's a 'no brainer' imo
DYOR as always.. Cheers tela
