Sean K
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Hmmm, failed above $0.65. Should be supported at $0.60 on the chart.
OMC - Omegacorp Limited
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article frm mining news - not a big resource (6000t?) PNN has JORC 6740t in SAust and EQN has 9500t in Zambia with copper mine
Looks like it failed to break $100m mkt capital mark as YT predicted...
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Bigger resource at Kariba
Tuesday, 29 August 2006
URANIUM explorer OmegaCorp has increased the inferred resource at its Kariba project in Zambia by about 25% to 13.7 million pounds, ahead of a 10,000m drill program set to finish in November.
The Mutanga deposit hosts 6.2Mlb uranium, with the Dibwe deposit hosting 6.6Mlb. The remaining 900,000lb is spread across the Mutanga East, Mutanga West and Mutanga Extensions at Kariba.
The biggest increase came at Dibwe, rising from 4.7Mlb to 6.6Mlb.
Finore Mining Consultants calculated the resource upgrade for OmegaCorp, based on recently acquired historical data and the company's drilling program from last year.
Two rigs are onsite at Kariba starting a 10,000m diamond and reverse circulation drilling program which aims to increase the size and confidence level of the resources.
Shares in OmegaCorp closed 1.5c (2.3%) lower at 63.5c.
Looks like it failed to break $100m mkt capital mark as YT predicted...
__________________________________
Bigger resource at Kariba
Tuesday, 29 August 2006
URANIUM explorer OmegaCorp has increased the inferred resource at its Kariba project in Zambia by about 25% to 13.7 million pounds, ahead of a 10,000m drill program set to finish in November.
The Mutanga deposit hosts 6.2Mlb uranium, with the Dibwe deposit hosting 6.6Mlb. The remaining 900,000lb is spread across the Mutanga East, Mutanga West and Mutanga Extensions at Kariba.
The biggest increase came at Dibwe, rising from 4.7Mlb to 6.6Mlb.
Finore Mining Consultants calculated the resource upgrade for OmegaCorp, based on recently acquired historical data and the company's drilling program from last year.
Two rigs are onsite at Kariba starting a 10,000m diamond and reverse circulation drilling program which aims to increase the size and confidence level of the resources.
Shares in OmegaCorp closed 1.5c (2.3%) lower at 63.5c.
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Announcement re rock chips in surrounding country... drilling to extend resource to start
Omegacorp Eyes Further Resource Upgrade And Early Mine Start On African Uranium Project
Adelaide, Sept 7, 2006 (ACN Newswire) - Significant opportunity exists to further increase the resource and move rapidly into production at a uranium project wholly-owned by ASX-listed OmegaCorp Limited
(ASX: OMC) in the African state of Zambia.
"There is considerable project upside as we have an existing JORC standard resource from only two of the five key prospects at the Kariba uranium project," OmegaCorp's Managing Director, Mr Matthew Yates, said today.
Addressing the Paydirt Media 2006 Africa Downunder Conference in Perth today, Mr Yates said the project aimed to move to a bankable feasibility study by year's end.
"We have re-adjusted our project horizons inwards now, as a result of a resource upgrade announced last week, to near-term production goals," Mr Yates said.
"Our short-term aim is to complete the current scoping study and through the extensive drilling program currently underway, further increase Kariba's resources."
Kariba has a JORC-classifed Inferred Resource, increased last week to 16.4 million tonnes, grading 380 ppm for 13.7 million pounds uranium oxide.
The scoping study has so far confirmed an 80% metallurgical recovery at Kariba via alkali leach.
Mr Yates said additional resource potential lay in further resource definition and/or infill drilling of the nearby deposits, Bungua, Mutanga East and West and Dibwe East and North deposits.
"Bungua is a priority for drill testing as it features visible mineralisation in several localities, high grade rock chip samples in excess of 3.8% uranium oxide, historical drill intercepts up to 1.6% and all of its known mineralisation is shallow with 75% of historical intercepts being less than 30 metres depth," Mr Yates said.
http://www.acnnewswire.net/press/en/...onference.html
Hmm...
BFS to start by end of the year
I think that plus the resource upgrades in November (?) from the Mutanga and Dibwe and Bungua (!!) drilling programs will take the markets attention as they will see OMC is serious about becoming a near term producer...
Adelaide, Sept 7, 2006 (ACN Newswire) - Significant opportunity exists to further increase the resource and move rapidly into production at a uranium project wholly-owned by ASX-listed OmegaCorp Limited
(ASX: OMC) in the African state of Zambia.
"There is considerable project upside as we have an existing JORC standard resource from only two of the five key prospects at the Kariba uranium project," OmegaCorp's Managing Director, Mr Matthew Yates, said today.
Addressing the Paydirt Media 2006 Africa Downunder Conference in Perth today, Mr Yates said the project aimed to move to a bankable feasibility study by year's end.
"We have re-adjusted our project horizons inwards now, as a result of a resource upgrade announced last week, to near-term production goals," Mr Yates said.
"Our short-term aim is to complete the current scoping study and through the extensive drilling program currently underway, further increase Kariba's resources."
Kariba has a JORC-classifed Inferred Resource, increased last week to 16.4 million tonnes, grading 380 ppm for 13.7 million pounds uranium oxide.
The scoping study has so far confirmed an 80% metallurgical recovery at Kariba via alkali leach.
Mr Yates said additional resource potential lay in further resource definition and/or infill drilling of the nearby deposits, Bungua, Mutanga East and West and Dibwe East and North deposits.
"Bungua is a priority for drill testing as it features visible mineralisation in several localities, high grade rock chip samples in excess of 3.8% uranium oxide, historical drill intercepts up to 1.6% and all of its known mineralisation is shallow with 75% of historical intercepts being less than 30 metres depth," Mr Yates said.
http://www.acnnewswire.net/press/en/...onference.html
Hmm...
BFS to start by end of the year
I think that plus the resource upgrades in November (?) from the Mutanga and Dibwe and Bungua (!!) drilling programs will take the markets attention as they will see OMC is serious about becoming a near term producer...
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Gapped open above 75c resistance is this a breakout?
Sean K
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Simmo said:The close suprised me. Those bids at the end just came out of no where.
Closed at 90 cents which is an all time high.
Highest intraday previously was 89.5 and highest previous close 86.5
Yes Simmo. EVE/OMC tag team, im loving it.
2mrw should be good, but its only the beginning of this run, i would expect drilling results in the next 3-4 weeks.
Sean K
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Great opporunity for a very positive day trade if overseas markes are ok. The positive momentum will come through allowing us to get in early and out quickly. Would not wont to be holding a speccie overnight atm. Play it smart.
kennas said:
Neither would I.
I really thought about buying OMC at 91c right before the close thinking it could gap up 2mrw, but then i thought otherwise.
I actually did alot of selling today, havent done that in a long time.
KZL and CBH both up >30% in the past 3-4 weeks gotta be happy with that.
I tread much more carefully now after giving back so much paper profits in May
Sean K
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This has failed terribly since breaking out crazily from $0.75. Brave man holding this atm.afroboy said:I know what you mean Nizar... I would'e benefited from some selling on that day also... the run up was just too good...
I'm holding EVE and OMC for the long term... not going to buy any more, but definitely not going to sell any either...
I'll be looking for an opp soon to get back into this, but not now. Maybe if it bounces off $0.75.
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Thanks for the chart kennas, I appreciate your input ! Do you think it will come back to fill the gap?
I expect that announcements of a resource upgrade (inferred to indicated) and some significant drilling results from Bungua will get things moving along quite nicely... hopefully within the next few weeks...
I hate seeing red on my daily position statement, but I'm in this one for the long term...
I expect that announcements of a resource upgrade (inferred to indicated) and some significant drilling results from Bungua will get things moving along quite nicely... hopefully within the next few weeks...
I hate seeing red on my daily position statement, but I'm in this one for the long term...
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today's action does not look to crash hot. I know someone is selling bigtime but I wonder who is soaking all these up...
Sean K
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