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Re: GDM - Goldstream Mining

also,

check out the patersons report on GDMs site. Patersons value them at $1.09 per share. I did my evaluation before i read that report, but it was nice to get something close, confirming what i thought.

enjoy

:D
 
Re: GDM - Goldstream Mining

another thing worth mentioning is the fact that this is very high grade magnetite:

The ore ranks as some of the is the highest grade iron ore in Australia with 71% Fe equivalent DSO product.

preliminary metallurgy indicates can produce a niche product that does not require pelletisation
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the co is looking for a chinese company so they can ship the ore direct to china and then that co will do whatever processing is needed. then the co can get the Au and Cu $$ as a bonus :)
 
Re: GDM - Goldstream Mining

To process this unusual ore and recover the metals will cost a few $, I'd say that the tonnage is too small to get anyone interested in processing it. So only half their share price could be due to this, some due to $ in the bank and a few $ for other interests. I don't think it will rise in the short term, possible potential for an increase in resource if there is $ in the bank to keep drilling but the upside is minimal for me. This company's been around the block a few times, maybe they are starting to get it right, but not right now for me.
 
Re: GDM - Goldstream Mining

i appreciate you input doogie, although i have read 3 of your posts today and all of them have been negative towards various companies. (is there any co you like at the moment? :) )

the recovery should not cost too much as it is close to the surface.

they are continuing driling and have a high chance of extending their resource, they seem fairly confident about that.

im not too sure about processing costs, but i know that the co is planning to have about 40% of their income from the Cu, which is good to see that they are diversified.

the processing however will be carried out in China as they believe it will work out cheaper shipping the ore then processing it there. unfortunately i am not familiar with how IO is processed so cannot offer much further on this.
 
Re: GDM - Goldstream Mining

Magnetite is removed by magnetic separation, the copper would be removed by asecond process - flotation. The gold would be removed by a third process or with copper. I hol QOL too, so yes I do have companies I like, BSM's latest Zn/Pb/Ag/Au intersection was impressive, I've held FNT and think Komsen looks good, waiting for the drilling before buying, DGR still seems like a long term winner. I hold FXR for spec iron ore (Mt Oscar) exposure. Anyhow this is about goldstream so no I don't really like them at the moment but they may eventually come good. If I held I would probably hold.
 
Re: GDM - Goldstream Mining

personally i have only recently bought in as i think it has found a nice base at 50c.
like i said i dont know much about the IO process or geology so here is another quote from the co with regards to that side of things

The magnetite concentrate that can be produced from Cairn Hill ore will be one of the highest available worldwide with a grade of up to 71.5% possible. Concentrate of this quality has strong value in use benefits to steelmakers. In addition due to the coarseness at which the concentrate can be produced, it can be fed directly into the blast furnace like fines without the need for pelletisation.

Metal recoveries are exceptional for a magnetite with primary recoveries for iron up to 92.6% and up to 98.2% for copper.

GDM is currently evaluating on site dry magnetic separation to increase the shipping grade of the ore. Testwork shows that is possible to increase the grade of the Fe by up to 8%
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i appreciate your comments doogie, as im still on a steep learning curve :)
 
Re: GDM - Goldstream Mining

Another negative is that theres no loading facility at ports Augusta or pirie
i read somewhere that they will load from barges...id say there reaching a bit.
 
Re: GDM - Goldstream Mining

ok, i will have to check that out.

even so i still think they are undervalued, even if they were not going to be mining, and were just continuing exploration. the market ic currently only valuing them at 10c per share if you take out their investments.

this seems pretty minimal to me considering the projects they hold, and the stages they are at.
 
Re: GDM - Goldstream Mining

here is the response i got from the company MD with a couple of questions i asked.

His responses are in caps.

1. The quaterly suggested that the MLA should be granted mid this quater. Is this still looking to be the case? I understand this is out of your control, but mining leases are notorious for being delayed in my experience.

THINK WE ARE STILL ON TRACK NEED TO FINALISE NATIVE TITLE & WOOMERA ACCESS DEED. WE ARE PUSHING AHEAD WITH PREPARING THE MARP DOCUMENTATION.

2. How is the native title agree ment progressing?

ALL OUR MINING AREAS & HAUL ROADS HAVE BEEN CLEARED - WAITING TO FINALISE AGREEMENT - WESTERN PLAINS SETTLEMENT SETS WHAT WE SEE AS A CEILING, & I WOULD HOPE TO DO SOMEWHAT BETTER AS WE HAVE A SMALLER PROJECT

3. Has there been any further advancement with discussions with the chinese? Or what is the timeframe you are expecting to update the market within?

THINK WE ARE GETTING CLOSER - BUT WITH CHINESE THINGS TEND TO EBB & FLOW SO HARD TO PUT A TIMEFRAME (YOU GO FROM HIGHS TO LOWS BACK TO HIGHS IN 24 HOURS, VERY EMOTIONALLY DRAINING - THE PEOPLE WE ARE DEALING WITH ARE SERIOUS IT IS JUST A CASE OF BOLTING ONE OF THEM DOWN) - THE PROJECT IS NOW READY TO GO SO I AM KEEN TO KEEP THE MOMENTUM WE HAVE BUILT UP


this is the 2nd email i have recieved from him, and he does appear to be working hard on securing funding. It seems to be a matter of time now as he said.
 
Re: GDM - Goldstream Mining

I am also very interested in this company. The only thing that troubles me is that the new management owns very little shares. I think they will be presenting on the next AMEC will try to go and get a feel of how things are going.
 
Re: GDM - Goldstream Mining

Renewed interest showing in these guys.

They have gone from 48c to 54c in a few days. IMO they are one iron ore stock which has not run yet. Strange since they are a hell of a lot closer to production than any of the other explorers.

Happily holding :)
 
Re: GDM - Goldstream Mining

prawn_86 said:
Renewed interest showing in these guys.

They have gone from 48c to 54c in a few days. IMO they are one iron ore stock which has not run yet. Strange since they are a hell of a lot closer to production than any of the other explorers.

Happily holding :)
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Hi Prawn, Ive been holding GDM for a while now. Very under valued and due for a re rating I recon. If and when an announcement regarding a chinese investor is made we should see some action. This ann is overdue
 
Re: GDM - Goldstream Mining

Gday Strat,

It is well overdue. I have been in touch with the MD a few times and he says things are progressing (see my previous posts for one of his emails), but it is painful sitting and waiting.

Perhaps there has been a leak, hence the interest.
 
Re: GDM - Goldstream Mining

prawn_86 said:
Gday Strat,

It is well overdue. I have been in touch with the MD a few times and he says things are progressing (see my previous posts for one of his emails), but it is painful sitting and waiting.

Perhaps there has been a leak, hence the interest.
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Not too painful. I dont consider this a risky number and dont mind leaving it in the botton drawer for a wee while. As for a leak, hope you are right. You still holding those FNT? I jumped out about a week ago for the reasons I stated on SC and bought into MHL @3.2.:D
 
Re: GDM - Goldstream Mining

I'd say the recent interest is related to their holding in UNX, which has risen more than 25% in the past week...

I'm looking for an entry point in this but it keeps running away. :(
 
Re: GDM - Goldstream Mining

Just got the Annual report in the mail today and they are looking at changing their name to IMX Resources.

I guess this will better reflect the diversified company that they are rather than having 'gold' in their name, which isnt their sole focus
 
Re: GDM - Goldstream Mining

prawn_86 said:
Just got the Annual report in the mail today and they are looking at changing their name to IMX Resources.

I guess this will better reflect the diversified company that they are rather than having 'gold' in their name, which isnt their sole focus
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I can think of more important things for them to be concerned with like the long awaited Chinese Partnership :rolleyes:
 
Re: GDM - Goldstream Mining

GDM going for a nice run this morning. TSX:CNI went up 165% overnight to close at $3.20 which takes GDM's holding to approx $80m (i think).

Well done and congratulation to all holders. Unfortunately, I was too conservative with this one and missed the boat. :(
 
Re: GDM - Goldstream Mining

Up 26% and then goes into a trading halt. I wonder if they have any news also or if it is just on the back of CNI (TSX)?

A couple months wait may look to be paying off :)
 
Re: GDM - Goldstream Mining

Looks like the halt was only to announce the news of CNI's drilling, which had already been known by the market place.

CONTINENTAL NICKEL ANNOUNCES INITIAL DRILL RESULTS FROM THE NACHINGWEA PROJECT, TANZANIA.
NEW HIGH GRADE NI-CU SULPHIDE ZONE DISCOVERED GRADING 7.50% NI, 1.15% CU OVER 9.55 M
Click to expand...

Decent results as far as i can tell, with more drill holes to come. I wonder if the halted it to stop it running up massively and getting a heap of day traders on board?

Currently at 66c which is still very undervalued imo. True value is closer to $1 especially with CNI's rise in SP on the TSX.

Check back earlier in the thread for my full analysis :)
 
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