NXM - Nexus Minerals
- Thread starter Doun
- Start date
springhill
Make the drill work for YOU
- Joined
- 20 June 2007
- Posts
- 2,555
- Reactions
- 11
Re: HEM - Hemisphere Resources
Hi Doun, have got the low down on HEM. Hope it's not too late!
KATAMATOMA BASE METALS PROJECT - TANZANIA
The tenement area spans the thrust fault dividing the Kibaran Orogenic belt, and is prospective for a range of commodities and styles of mineralisation. The Tanzanian Geological Survey has identified mineral occurrences within the tenement boundary, and also mineral occurrences along strike from the tenement boundary in similar geological settings.
The styles of mineralisation being explored at Katamatoma are nickel deposits associated with ultramafic intrusives, and stratiform copper-cobalt deposits within sedimentary sequences. The reprocessed aeromagnetics show potential anomalies which could have associated mineralisation, however, further work is required to generate ground targets for further evaluation
Initial reprocessing and interpretation has reduced the tenement footprint to a number of target areas for further evaluation. The Company now intends to map the surface mineralogy using airborne hyperspectral surveys to identify areas of alteration related to potential base metal mineralisation. Areas of mineral alteration or accumulation will be ground-truthed and geochemically sampled to assess the potential for base metal anomalies. Additional high resolution aeromagnetics will also be flown over selected areas to assist with target generation over any identified surface anomaly. Areas of potential alteration will be field-checked, sampled as required, with the eventual aim of generating targets for drill testing.
HANCOCK RANGE MAGNETITE PROJECT - PILBARA
Hancock Range is located within the Hope Downs (Hancock / RIO) and Mining Area C (BHP Billiton) region.
A comprehensive metallurgical test work program was completed in July 2012 using diamond core samples collected during 2011. Drilling totalled 893 metres in 4 holes, with one hole drilled to 443 metres and the remaining 3 drilled to 150 metres. The deep hole sampled the entire sequence of Joffre Member of the Brockman Iron Formation, whereas the 3 shallow holes sampled upper units of the Joffre Member.
Initial metallurgical testwork reported in June 2011 was based on spot samples taken at 10 metre intervals downhole. The second comprehensive test work program started in March 2012 and involved halving and quartering the entire core length and processing it in 10 metre composites.
The test work demonstrated that the Hancock Range BIF had the following characteristics:
● The Hancock Range BIF responded well to upgrading through coarse cobbing;
● Average concentrate grades exceeded 68% Fe, which is competitive and compares well to other magnetite projects
● Despite competitive concentrate grades, only 40% average iron recovery was achieved.
● Consistent with typical Pilbara BIF, mineralogy has indicated that a significant portion of the iron that was not recovered to the magnetite concentrate is present as non-magnetic, ultra-fine grained hematite and other accessory iron bearing minerals.
● In addition to low iron recovery, the average mass recovery (yield) from the Hancock Range BIF averaged 17% (that is recovering 17 tonnes of magnetite from 100 tonnes of ore processed), which is considered low and difficult to commercialise.
Mount Goldsworthy
Mount Goldsworthy is located 100km east of Port Hedland and 5km north-east of BHP Billiton’s abandoned Mount Goldsworthy mine site.
A full review of the Mount Goldsworthy tenement has now been completed. The review has included work done by a number of previous owners and the cumulative results from Hemisphere’s own aeromagnetic, ground gravity modelling, ground-truthing and field mapping conducted during 2011.
Geophysical modelling initially generated a number of anomalies for further evaluation at Goldsworthy. However, cross referencing previous exploration work with recent field mapping and ground-truthing has reduced the prospect potential of these anomalies to the extent that these targets have now been discounted.
In summary, Mount Goldsworthy sucks, Hancock Range stinks. So essentially they have all their eggs in the newly acquired Tanzanian project, of which there is little detailed information.
There is nothing in their project package to spark a SP increase, unless they pull something new out of their hat.
Nothing but long term potential here.
Hi Doun, have got the low down on HEM. Hope it's not too late!
KATAMATOMA BASE METALS PROJECT - TANZANIA
The tenement area spans the thrust fault dividing the Kibaran Orogenic belt, and is prospective for a range of commodities and styles of mineralisation. The Tanzanian Geological Survey has identified mineral occurrences within the tenement boundary, and also mineral occurrences along strike from the tenement boundary in similar geological settings.
The styles of mineralisation being explored at Katamatoma are nickel deposits associated with ultramafic intrusives, and stratiform copper-cobalt deposits within sedimentary sequences. The reprocessed aeromagnetics show potential anomalies which could have associated mineralisation, however, further work is required to generate ground targets for further evaluation
Initial reprocessing and interpretation has reduced the tenement footprint to a number of target areas for further evaluation. The Company now intends to map the surface mineralogy using airborne hyperspectral surveys to identify areas of alteration related to potential base metal mineralisation. Areas of mineral alteration or accumulation will be ground-truthed and geochemically sampled to assess the potential for base metal anomalies. Additional high resolution aeromagnetics will also be flown over selected areas to assist with target generation over any identified surface anomaly. Areas of potential alteration will be field-checked, sampled as required, with the eventual aim of generating targets for drill testing.
HANCOCK RANGE MAGNETITE PROJECT - PILBARA
Hancock Range is located within the Hope Downs (Hancock / RIO) and Mining Area C (BHP Billiton) region.
A comprehensive metallurgical test work program was completed in July 2012 using diamond core samples collected during 2011. Drilling totalled 893 metres in 4 holes, with one hole drilled to 443 metres and the remaining 3 drilled to 150 metres. The deep hole sampled the entire sequence of Joffre Member of the Brockman Iron Formation, whereas the 3 shallow holes sampled upper units of the Joffre Member.
Initial metallurgical testwork reported in June 2011 was based on spot samples taken at 10 metre intervals downhole. The second comprehensive test work program started in March 2012 and involved halving and quartering the entire core length and processing it in 10 metre composites.
The test work demonstrated that the Hancock Range BIF had the following characteristics:
● The Hancock Range BIF responded well to upgrading through coarse cobbing;
● Average concentrate grades exceeded 68% Fe, which is competitive and compares well to other magnetite projects
● Despite competitive concentrate grades, only 40% average iron recovery was achieved.
● Consistent with typical Pilbara BIF, mineralogy has indicated that a significant portion of the iron that was not recovered to the magnetite concentrate is present as non-magnetic, ultra-fine grained hematite and other accessory iron bearing minerals.
● In addition to low iron recovery, the average mass recovery (yield) from the Hancock Range BIF averaged 17% (that is recovering 17 tonnes of magnetite from 100 tonnes of ore processed), which is considered low and difficult to commercialise.
Mount Goldsworthy
Mount Goldsworthy is located 100km east of Port Hedland and 5km north-east of BHP Billiton’s abandoned Mount Goldsworthy mine site.
A full review of the Mount Goldsworthy tenement has now been completed. The review has included work done by a number of previous owners and the cumulative results from Hemisphere’s own aeromagnetic, ground gravity modelling, ground-truthing and field mapping conducted during 2011.
Geophysical modelling initially generated a number of anomalies for further evaluation at Goldsworthy. However, cross referencing previous exploration work with recent field mapping and ground-truthing has reduced the prospect potential of these anomalies to the extent that these targets have now been discounted.
In summary, Mount Goldsworthy sucks, Hancock Range stinks. So essentially they have all their eggs in the newly acquired Tanzanian project, of which there is little detailed information.
There is nothing in their project package to spark a SP increase, unless they pull something new out of their hat.
Nothing but long term potential here.
Attachments
springhill
Make the drill work for YOU
- Joined
- 20 June 2007
- Posts
- 2,555
- Reactions
- 11
Re: HEM - Hemisphere Resources
After a quick review of HEM, my original assessment still stands. Tanzania is the only project worth remotely considering and any drill action on the ground is a long way off. Project acquisition seems to be strong on their schedule.
With this MC:Cash ratio, I think HEM is worth keeping an eye on to see what they acquire in the future.
MC - $5m
SP - 7.3c
Shares - 70m
Options - NQ
Cash - $7.7m
Tanzania Exploration
● A Preliminary desk-top study of the Katamatoma project area utilising aeromagnetic data has been completed by geophysics consultants.
● Study has successfully defined key areas of interest; justifying further high resolution airborne and ground-based exploration for copper, cobalt and nickel targets.
● Quotes are currently being finalised for next stage airborne survey work.
Australian Exploration
● Metallurgical test work completed on Hancock Range diamond core, indicating low commercialisation potential for magnetite extraction from banded iron formation on the tenement due to low mass recoveries.
● A thorough review of the Mount Goldsworthy exploration data indicated drilling is not warranted on the tenement at this stage, given its prospectivity for iron mineralisation and low level base metal anomalies.
● Commercialisation options for the Yandicoogina South project are still under assessment with further updates expected by late-September this year.
● Hemisphere Resources was granted an R&D tax concession of $206,438.00 for the 2010 – 2011 financial year covering work conducted at both the Sandstone and Hancock Range tenements.
Tenement Rationalisation & Divestment
● Comprehensive tenement reviews have resulted in a significant rationalisation of Australian holdings and greatly reduced minimum compulsory annual expenditure requirements.
● A tenement package north of Kalgoorlie was divested to Pioneer Resources Limited, who has a substantial land holding in the area.
Corporate & Business Development
● Hemisphere retains strong cash reserves of $7.7million at 30 June 2012 comprising cash and term deposit investments.
● Hemisphere continues to expand its geographic footprint with a significant number of projects and tenements in East Africa assessed during the Quarter. Additionally; several new applications were made for tenements in Tanzania prospective for gold.
After a quick review of HEM, my original assessment still stands. Tanzania is the only project worth remotely considering and any drill action on the ground is a long way off. Project acquisition seems to be strong on their schedule.
With this MC:Cash ratio, I think HEM is worth keeping an eye on to see what they acquire in the future.
MC - $5m
SP - 7.3c
Shares - 70m
Options - NQ
Cash - $7.7m
Tanzania Exploration
● A Preliminary desk-top study of the Katamatoma project area utilising aeromagnetic data has been completed by geophysics consultants.
● Study has successfully defined key areas of interest; justifying further high resolution airborne and ground-based exploration for copper, cobalt and nickel targets.
● Quotes are currently being finalised for next stage airborne survey work.
Australian Exploration
● Metallurgical test work completed on Hancock Range diamond core, indicating low commercialisation potential for magnetite extraction from banded iron formation on the tenement due to low mass recoveries.
● A thorough review of the Mount Goldsworthy exploration data indicated drilling is not warranted on the tenement at this stage, given its prospectivity for iron mineralisation and low level base metal anomalies.
● Commercialisation options for the Yandicoogina South project are still under assessment with further updates expected by late-September this year.
● Hemisphere Resources was granted an R&D tax concession of $206,438.00 for the 2010 – 2011 financial year covering work conducted at both the Sandstone and Hancock Range tenements.
Tenement Rationalisation & Divestment
● Comprehensive tenement reviews have resulted in a significant rationalisation of Australian holdings and greatly reduced minimum compulsory annual expenditure requirements.
● A tenement package north of Kalgoorlie was divested to Pioneer Resources Limited, who has a substantial land holding in the area.
Corporate & Business Development
● Hemisphere retains strong cash reserves of $7.7million at 30 June 2012 comprising cash and term deposit investments.
● Hemisphere continues to expand its geographic footprint with a significant number of projects and tenements in East Africa assessed during the Quarter. Additionally; several new applications were made for tenements in Tanzania prospective for gold.
- Joined
- 2 May 2007
- Posts
- 4,688
- Reactions
- 2,901
For about 9 years no posting and NXM changed its face.
since I put the tip the market price went up by 15%. Wrong time of entry or wrong time of rising.
Hopefully Friday market will bring the price to get my tip looks good.
But I do not think it will be the case.
Have been watching this stock only recently.
Lots of good story as one can be seen on the announcements
Low market cap only 22.2 M
It was not long ago the price shot to 21 cents
The company's focus drilling is Crusador and the result will be available by the first week of March. Hope it comes nicer than the Crusador drilling published on 7 Dec. Who knows that could be the speculative basis why the price went up today and hopefully the market will not dump if the March result does not become as exciting as published on 7 Dec.
Put a token investment as soon market opened today. Unless some different comments or report says otherwise, I am taking shot to wait until the next report comes.
Any additional perspective on this stock will be appreciated.
since I put the tip the market price went up by 15%. Wrong time of entry or wrong time of rising.
Hopefully Friday market will bring the price to get my tip looks good.
But I do not think it will be the case.
Have been watching this stock only recently.
Lots of good story as one can be seen on the announcements
Low market cap only 22.2 M
It was not long ago the price shot to 21 cents
The company's focus drilling is Crusador and the result will be available by the first week of March. Hope it comes nicer than the Crusador drilling published on 7 Dec. Who knows that could be the speculative basis why the price went up today and hopefully the market will not dump if the March result does not become as exciting as published on 7 Dec.
Put a token investment as soon market opened today. Unless some different comments or report says otherwise, I am taking shot to wait until the next report comes.
Any additional perspective on this stock will be appreciated.
- Joined
- 2 May 2007
- Posts
- 4,688
- Reactions
- 2,901
Like others, NXM has followed the trend easing my price of entry
- Joined
- 2 May 2007
- Posts
- 4,688
- Reactions
- 2,901
Stock market news live updates: Stocks dip, with tech shares under more pressure as Treasury yields rise
The Dow staged a recovery that drove it to a new closing high, in spite of a portfolio meltdown by a hedge fund.
au.finance.yahoo.com
Nexus Minerals (ASX:NXM) - Stock Price, News & Analysis - Simply Wall St
Research Nexus Minerals' (ASX:NXM) stock price, latest news & stock analysis. Find everything from its Valuation, Future Growth, Past Performance and more.
simplywall.st
greggles
I'll be back!
- Joined
- 28 July 2004
- Posts
- 4,460
- Reactions
- 4,494
Hope you were on this one in the last month or so @Miner - it's gone off like a frog in a sock.
Some impressive drilling results at the Templar Prospect at the Company's Wallbrook gold project has set the NXM share price on fire.
- Joined
- 2 May 2007
- Posts
- 4,688
- Reactions
- 2,901
Yes @greggles .
By fluke or lethargy I desisted to sell it after prolong waiting, in the first week of Sept. thankfully my lethargy worked for me.
The stock on my portfolio got some 280 pc increase. Gees. Should have tipped this time on ASF or topped up, but who knew
I suspect the meteoric rise is over now and sliding action will start.
- Joined
- 26 August 2021
- Posts
- 147
- Reactions
- 241
Bang! Nexus taking off again today.
greggles
I'll be back!
- Joined
- 28 July 2004
- Posts
- 4,460
- Reactions
- 4,494
I'm wondering why. Are there any outstanding drilling results due to be announced soon?
- Joined
- 3 May 2019
- Posts
- 6,182
- Reactions
- 9,669
- Joined
- 2 May 2007
- Posts
- 4,688
- Reactions
- 2,901
GOLD DISCOVERY but market bashed by more than 23 pc !
too much bubble here ? I read the report and on a quick glance could not find a fatal flaw
too much bubble here ? I read the report and on a quick glance could not find a fatal flaw
Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
- Posts
- 13,344
- Reactions
- 9,449
@Miner
NXM. A pick for me in the CY22 Competition.
I too am unable to see a reason for the fall in price recently.
I have 367 days in which to find out...
Or not
gg
NXM. A pick for me in the CY22 Competition.
I too am unable to see a reason for the fall in price recently.
I have 367 days in which to find out...
Or not
gg
- Joined
- 2 May 2007
- Posts
- 4,688
- Reactions
- 2,901
Join the club mate ?@Miner
NXM. A pick for me in the CY22 Competition.
I too am unable to see a reason for the fall in price recently.
I have 367 days in which to find out...
Or not
gg
- Joined
- 2 May 2007
- Posts
- 4,688
- Reactions
- 2,901
To qualify the CY 2022 tipping, I am putting the following :
https://cdn-api.markitdigital.com/a...access_token=83ff96335c2d45a094df02a206a39ff4
This is going to be an eye-opener in 2022.
the options are issued @68 cents - each of the directors got 2 M options. With current price, if the directors are going to use the options then the prevailing price should be expected to go much higher than 68 cents or the options will be surrendered. wallet Investor howeer predicted the price to go upto 55 cents which means, the options could be surrendered.
https://cdn-api.markitdigital.com/a...access_token=83ff96335c2d45a094df02a206a39ff4 - pretty good finding
3 RC and 2 Diamond drills are booked for Jan . So optimistically some of the drill results will skyrocket NXM.
In addition 4.6 gm/to at 29 meters is pretty much-advanced gardening if the rest of the findings are going to be like that. AISC will be absolutely low (IMO) unless the nature of the rock going to be a complex one.
https://cdn-api.markitdigital.com/a...access_token=83ff96335c2d45a094df02a206a39ff4
This is going to be an eye-opener in 2022.
the options are issued @68 cents - each of the directors got 2 M options. With current price, if the directors are going to use the options then the prevailing price should be expected to go much higher than 68 cents or the options will be surrendered. wallet Investor howeer predicted the price to go upto 55 cents which means, the options could be surrendered.
https://cdn-api.markitdigital.com/a...access_token=83ff96335c2d45a094df02a206a39ff4 - pretty good finding
3 RC and 2 Diamond drills are booked for Jan . So optimistically some of the drill results will skyrocket NXM.
In addition 4.6 gm/to at 29 meters is pretty much-advanced gardening if the rest of the findings are going to be like that. AISC will be absolutely low (IMO) unless the nature of the rock going to be a complex one.
Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
- Posts
- 13,344
- Reactions
- 9,449
A WA Golder with recent good results and management which has experienced a mysterious fall in price recently.
Ever hopeful. My pick in the Jan 2022 Monthly Comp if I am not too late.
gg
Ever hopeful. My pick in the Jan 2022 Monthly Comp if I am not too late.
gg
- Joined
- 26 August 2021
- Posts
- 147
- Reactions
- 241
More impressive results announced this morning and plenty more to come.
Lots of gold in the ground for this one and plenty of cash to find it all.
Lots of gold in the ground for this one and plenty of cash to find it all.
- Joined
- 26 August 2021
- Posts
- 147
- Reactions
- 241
Wallbrook - 1.6km long mineralised corridor with plenty more drilling and gold yet to come.
Thought the market may start to react a little more positively to this one.
They have sensational ground.
Thought the market may start to react a little more positively to this one.
They have sensational ground.
- Joined
- 19 October 2005
- Posts
- 4,128
- Reactions
- 6,067
Bought an initial position in this today @ 0.295 for the Wallbrook prospects.
Not a high confidence buy as it's not out of its downtrend and haven't given it much thought.
It has given up somewhere around 65% of its steep rally from July - Dec 2021. Did a placement 6 months ago for $19m @ $0.46. On that matter NXM still holds a lot of cash for a junior but is spending lavishly with 3 RC and 2 DD rigs turning.
NXM has a strong similarity to OZM as an exploration play imo, in that it is even closer to the Northern Star operations of Carosue Dam and NST's Porphyry mining Centre (see screenshot)
Weekly (not showing today's 2c drop)
Volume is low recently in the decline but more selling pressure might come from eofy tax loss selling or funds trimming profit for eofy reporting or balancing I guess? ?
Not a high confidence buy as it's not out of its downtrend and haven't given it much thought.
It has given up somewhere around 65% of its steep rally from July - Dec 2021. Did a placement 6 months ago for $19m @ $0.46. On that matter NXM still holds a lot of cash for a junior but is spending lavishly with 3 RC and 2 DD rigs turning.
NXM has a strong similarity to OZM as an exploration play imo, in that it is even closer to the Northern Star operations of Carosue Dam and NST's Porphyry mining Centre (see screenshot)
Weekly (not showing today's 2c drop)
Volume is low recently in the decline but more selling pressure might come from eofy tax loss selling or funds trimming profit for eofy reporting or balancing I guess? ?
Last edited:
- Joined
- 19 October 2005
- Posts
- 4,128
- Reactions
- 6,067
Bid in at current price @ 0.20
Big enough discount from my first buy.
Comforted that I've said above that they have an ok cash position (but haven't checked)
Big enough discount from my first buy.
Comforted that I've said above that they have an ok cash position (but haven't checked)
Similar threads
