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Re: HCY - Halcyon Group
Morrijo , I think you need to take a broad perspective on Halcyons emerging mineral interests and what strategies are being developed to bring the company into the production phase . the uranium programme constitutes only part of their overall operations and I think it will take a bit more than one uranium sample for Halcyon to cross the bar . Mid last year they commenced the copper programme sinking approx 20 holes with the best copper grade @ 3.61% . After the first round of drilling in mid 2006 it was suggested another 20 - 30 holes would be required to attain jorc status before moving into faesability studies in the last quarter of 2006 with a view towards having a stage one copper prouction system in process early in 2007 .
With an estimated in ground value of 60MAU and associated gold and silver credits I would be interested in hearing a progress report on whether the recent round of tests will prove the possibility of copper concentrating economically so the Co can commence with the stage one start up operation that was detail mid last year in 2006 . In reading the recent announcement it details another two targets at Mt Pleasant so I guess we will just have to wait for the next round of drilling and ascertain whether or not The Co can acheive jorc status based upon the results .
Morrijo , I think you need to take a broad perspective on Halcyons emerging mineral interests and what strategies are being developed to bring the company into the production phase . the uranium programme constitutes only part of their overall operations and I think it will take a bit more than one uranium sample for Halcyon to cross the bar . Mid last year they commenced the copper programme sinking approx 20 holes with the best copper grade @ 3.61% . After the first round of drilling in mid 2006 it was suggested another 20 - 30 holes would be required to attain jorc status before moving into faesability studies in the last quarter of 2006 with a view towards having a stage one copper prouction system in process early in 2007 .
With an estimated in ground value of 60MAU and associated gold and silver credits I would be interested in hearing a progress report on whether the recent round of tests will prove the possibility of copper concentrating economically so the Co can commence with the stage one start up operation that was detail mid last year in 2006 . In reading the recent announcement it details another two targets at Mt Pleasant so I guess we will just have to wait for the next round of drilling and ascertain whether or not The Co can acheive jorc status based upon the results .
Re: HCY - Halcyon Group
With the uranium sector having done so well, its no wonder HCY has also got involved. The results of the sampling program at its uranium project are keenly awaited. It seems to me lately that many companies that turn their attention to uranium get upgraded by the market. Hence, this is part of the reason why I feel that HCY has been well and truly overlooked by the market.
One also has to remember that HCY also has (as you have mentioned gazelle) a promising copper project with a 1997 Non-JORC resource of 134,200 tonnes @ 4.32% Cu (~5,800 tonnes of Copper Metal) based on 49 percussion drill holes and 17 diamond drill holes for 4,600 metres of drilling.
There is also the nickel JV with MRE at Bardoc where a further drilling program has been scheduled for Mar 07.
DYOR
Hi gazelle,gazelle said:
With the uranium sector having done so well, its no wonder HCY has also got involved. The results of the sampling program at its uranium project are keenly awaited. It seems to me lately that many companies that turn their attention to uranium get upgraded by the market. Hence, this is part of the reason why I feel that HCY has been well and truly overlooked by the market.
One also has to remember that HCY also has (as you have mentioned gazelle) a promising copper project with a 1997 Non-JORC resource of 134,200 tonnes @ 4.32% Cu (~5,800 tonnes of Copper Metal) based on 49 percussion drill holes and 17 diamond drill holes for 4,600 metres of drilling.
There is also the nickel JV with MRE at Bardoc where a further drilling program has been scheduled for Mar 07.
DYOR
Re: HCY - Halcyon Group
Hi Greg . From a fundamental viewpoint it is somewhat difficult to estimate the current or forward valuation of the company based on the exploration data to date . A re rating of the company would probably be constructed around base reserve estimates and other associated economic factors like extraction and haulage costs . With Halcyon becoming a multi commodity zone it opens up the existing potential within Bardoc and all we need is another 3M to thoroughly explore it . The occurence of ni within the bardoc project is sporadic and inconsistent in form which is proving elusive to locate a source of ni that has the potential to concentrate economically / silver swan was only 30m wide and hosted in excess of 2BAU of ni , some of the drill targets are 50 - 100m wide and even operating within this narrow range can miss a potential high grade zone by a short distance , but drilling close rounds can be an expensive excercise and chew through funding rather quickly . silver swan has to forms of operation / the underground mine which has some very high %ni and the open cut which seems to average between .075% - .09% ni and is a profitable operation .
To date halcyon has identified and drilled several priority targets and although they might have come close they have not been able to identify any areas where ni concentrates economically and due to the sporadic distribution of ni around bardoc I dont know whether their results to date would warrant an open pit ni operation or whether further extensive testing on top of the existing 3M is required to further delineate ni zones and test the high priority targets to see how the results compare against previous stats ?
Hi Greg . From a fundamental viewpoint it is somewhat difficult to estimate the current or forward valuation of the company based on the exploration data to date . A re rating of the company would probably be constructed around base reserve estimates and other associated economic factors like extraction and haulage costs . With Halcyon becoming a multi commodity zone it opens up the existing potential within Bardoc and all we need is another 3M to thoroughly explore it . The occurence of ni within the bardoc project is sporadic and inconsistent in form which is proving elusive to locate a source of ni that has the potential to concentrate economically / silver swan was only 30m wide and hosted in excess of 2BAU of ni , some of the drill targets are 50 - 100m wide and even operating within this narrow range can miss a potential high grade zone by a short distance , but drilling close rounds can be an expensive excercise and chew through funding rather quickly . silver swan has to forms of operation / the underground mine which has some very high %ni and the open cut which seems to average between .075% - .09% ni and is a profitable operation .
To date halcyon has identified and drilled several priority targets and although they might have come close they have not been able to identify any areas where ni concentrates economically and due to the sporadic distribution of ni around bardoc I dont know whether their results to date would warrant an open pit ni operation or whether further extensive testing on top of the existing 3M is required to further delineate ni zones and test the high priority targets to see how the results compare against previous stats ?
Re: HCY - Halcyon Group
I wouldnt be getting to expectant Greg. Just bear in mind they have already chewed through approx 3M in exploration capital over roughly three years and so far they not been able to pinpoint a zone where ni is shown to concentrate economically. They have utilised the expertise of Sarah Dowling (ex csiro) and to date it would appear they have conducted a reasonably thorough overview of Bardoc. We are now in the 12th hour and my expectations remain somewhat neutral.
I wouldnt be getting to expectant Greg. Just bear in mind they have already chewed through approx 3M in exploration capital over roughly three years and so far they not been able to pinpoint a zone where ni is shown to concentrate economically. They have utilised the expertise of Sarah Dowling (ex csiro) and to date it would appear they have conducted a reasonably thorough overview of Bardoc. We are now in the 12th hour and my expectations remain somewhat neutral.
Re: HCY - Halcyon Group
DYOR
There has been increased support of late for HCY. I notice that one trader purcjhased 4.9 million in one hit today. Volume for the day was over 8 million and the share price finished up at 1.9c. In a recent announcement Mr Radonjic, MD of HCY, stated that the JV partners remain fully committed to the project. There remains a number of targetys yet to be tested. MRE has already spent $2.1 million on it and further drilling is planned. If MRE wasn't optimistic then it wouldn't continue to waste money on the project. You seem pretty negative about HCY and I have noticed that all 3 of your posts on this forum have been on HCY. Thats fine, but I disagree with your assessment. What you've overlooked is the fact that HCY has 3 interesting projects, anyone of which has the potential to be a company maker although its still very early days. Considering HCY's low market cap and recent significant boost in cash levels, and to top it off Mr Radonjic as MD, I feel that this is a overlooked company with potential. Only time will tell if this proves to be the case. Any other opinions out there?gazelle said:
DYOR
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Re: HCY - Halcyon Group
my post was....something like YAY Greggy....whatever
my thoughts that HCY are a little too quiet...i've followed HCY for ages now and made some cash but would be hesitant to get some more unless a good announcement came out....Any of their projects could go either way i feel.....I used to hold a few million HCY stocks waiting for the BIG announcement....actually I think i first started trading HCY when they were at an all time High of 3.5c...luckily i didnt buy too many back then..i still hold but nothing really surprises me on this stock...all the best Greggy
my post was....something like YAY Greggy....whatever
my thoughts that HCY are a little too quiet...i've followed HCY for ages now and made some cash but would be hesitant to get some more unless a good announcement came out....Any of their projects could go either way i feel.....I used to hold a few million HCY stocks waiting for the BIG announcement....actually I think i first started trading HCY when they were at an all time High of 3.5c...luckily i didnt buy too many back then..i still hold but nothing really surprises me on this stock...all the best Greggy
Re: HCY - Halcyon Group
hi Greggy,the last trade of the day was the 47000shares at 1.9..all the rest were at 1.7 and 1.8 so seems someone wanting t just get the stock up for the day on very minimal volume..the projects they have are really far from being company makers if at all and i think a dillution of capital would be needed if this company was to attract decent support...i still hold some but really i think ill sell if there is another upswing..goodluck Greggygreggy said:
Re: HCY - Halcyon Group
Perhaps they might come good in the future ? I dont know ?
Targetting Ni is a very difficult and precise operation requiring a great deal of exploration capital to test and evaluate targets . The JV with Minarra places halcyon in a sound financial position to capitalise on any exploration success that may arise through ( any ) ni or gold hits . There is every possibility that this recent round of drilling might locate or indicate the presence of a high grade ni zone and as we have seen so frequently before it could turn out to be an insignificant round of drilling that is not worthy of market release . ( such is the business of mineral exploration ) To date I have gone through eight sets of car tyres watching and monitoring this stock and my position remains neutral . They have used the services of Sarah Dowling who is ex csiro geological scientist and whilst they have made solid progress is delineating and prioritising targets for further exploration to date they have not been able to extend any further on their activities and achieve their initial objectives which was to locate an economically viable ni zone with a view towards an open pit operation . hopefully the pending drill results will be in line with the companies initaial expectations and support such an operation however at present time they are still an under capitalised and under resourced exploration outfit . although that could change rather quickly .
I dont wear rose tinted glasses .
Perhaps they might come good in the future ? I dont know ?
Targetting Ni is a very difficult and precise operation requiring a great deal of exploration capital to test and evaluate targets . The JV with Minarra places halcyon in a sound financial position to capitalise on any exploration success that may arise through ( any ) ni or gold hits . There is every possibility that this recent round of drilling might locate or indicate the presence of a high grade ni zone and as we have seen so frequently before it could turn out to be an insignificant round of drilling that is not worthy of market release . ( such is the business of mineral exploration ) To date I have gone through eight sets of car tyres watching and monitoring this stock and my position remains neutral . They have used the services of Sarah Dowling who is ex csiro geological scientist and whilst they have made solid progress is delineating and prioritising targets for further exploration to date they have not been able to extend any further on their activities and achieve their initial objectives which was to locate an economically viable ni zone with a view towards an open pit operation . hopefully the pending drill results will be in line with the companies initaial expectations and support such an operation however at present time they are still an under capitalised and under resourced exploration outfit . although that could change rather quickly .
I dont wear rose tinted glasses .
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Re: HCY - Halcyon Group
Thursday 22 March 2007
Ref: 606/134
Company Announcements Office
Australian Stock Exchange Limited
Level 4 Exchange Centre
20 Bridge Street
Sydney NSW 2000
SURFACE SAMPLES CONFIRM LAKE MARMION’S POTENTIAL TO HOST
URANIUM
The Directors of Halcyon Group Ltd (ASX: HCY) are pleased to announce that the Company has
received positive indications that the Lake Marmion Uranium Project (located ~130kms north of
Kalgoorlie in Western Australia) could host surficial (near surface) Uranium deposits. Surface
samples from initial sampling programs have returned up to 140ppm U3O8 with several samples
assaying over 100ppm U3O8.
Halcyon considers these results as significant with newly stated resources of surficial Uranium
deposits in Western Australia using 100ppm U3O8 as the economic cut-off grade about nine months
ago when the price was less than US$45/lb U3O8, today the price is double that at US$91/lb U3O8.
The company expects the first main tenement (ELA29/634-area of 208 km²) in the 100% owned
project (total of 343km²) to be granted next month, allowing an Aircore drilling program to
commence soon after to further test the better surface sample sites.
The sample sites (see attached map) where selected on the basis of the highest uranium radiometric
values taken during previous aeromagnetic surveys over the tenure. Each sample site was scanned
with a scintillometer (a scientific instrument used to measure radioactivity) and samples were taken
where the highest readings were generated at the site.
The surface sampling program will continue on the Lake Marmion Uranium Project over the coming
months on the non-granted tenure until the ground becomes available for either immediate drill testing
of surficial uranium target areas or geophysical surveys to better define the palaeochannel system
prior to drill testing for palaeochannel/sedimentary type uranium mineralisation.
The Lake Marmion Uranium Project is highly prospective for palaeochannel/sedimentary type
uranium deposits (e.g.: Mulga Rocks -10.8 Million tonnes @ 1,400ppm U3O8) and uranium in
surficial (near surface) deposits hosted in calcrete (e.g.: Lake Maitland -32.7 Million tonnes @
300ppm U3O8) and/or lake sediments.
Level 2, 45 Richardson Street PO Box 568
West Perth WA 6005 West Perth WA 6872
Tel: +61 8 9481 2433 Fax: +61 8 9322 5907 Website: www.halcyongroup.com.au
Kind regards
HALCYON GROUP LIMITED
Andrew Radonjic
MANAGING DIRECTOR
Tel: +61 8 9481 2433
Thursday 22 March 2007
Ref: 606/134
Company Announcements Office
Australian Stock Exchange Limited
Level 4 Exchange Centre
20 Bridge Street
Sydney NSW 2000
SURFACE SAMPLES CONFIRM LAKE MARMION’S POTENTIAL TO HOST
URANIUM
The Directors of Halcyon Group Ltd (ASX: HCY) are pleased to announce that the Company has
received positive indications that the Lake Marmion Uranium Project (located ~130kms north of
Kalgoorlie in Western Australia) could host surficial (near surface) Uranium deposits. Surface
samples from initial sampling programs have returned up to 140ppm U3O8 with several samples
assaying over 100ppm U3O8.
Halcyon considers these results as significant with newly stated resources of surficial Uranium
deposits in Western Australia using 100ppm U3O8 as the economic cut-off grade about nine months
ago when the price was less than US$45/lb U3O8, today the price is double that at US$91/lb U3O8.
The company expects the first main tenement (ELA29/634-area of 208 km²) in the 100% owned
project (total of 343km²) to be granted next month, allowing an Aircore drilling program to
commence soon after to further test the better surface sample sites.
The sample sites (see attached map) where selected on the basis of the highest uranium radiometric
values taken during previous aeromagnetic surveys over the tenure. Each sample site was scanned
with a scintillometer (a scientific instrument used to measure radioactivity) and samples were taken
where the highest readings were generated at the site.
The surface sampling program will continue on the Lake Marmion Uranium Project over the coming
months on the non-granted tenure until the ground becomes available for either immediate drill testing
of surficial uranium target areas or geophysical surveys to better define the palaeochannel system
prior to drill testing for palaeochannel/sedimentary type uranium mineralisation.
The Lake Marmion Uranium Project is highly prospective for palaeochannel/sedimentary type
uranium deposits (e.g.: Mulga Rocks -10.8 Million tonnes @ 1,400ppm U3O8) and uranium in
surficial (near surface) deposits hosted in calcrete (e.g.: Lake Maitland -32.7 Million tonnes @
300ppm U3O8) and/or lake sediments.
Level 2, 45 Richardson Street PO Box 568
West Perth WA 6005 West Perth WA 6872
Tel: +61 8 9481 2433 Fax: +61 8 9322 5907 Website: www.halcyongroup.com.au
Kind regards
HALCYON GROUP LIMITED
Andrew Radonjic
MANAGING DIRECTOR
Tel: +61 8 9481 2433
Re: HCY - Halcyon Group
The recent Uranium announcement looks promising and this recent uranium acquistion should add value to the company further on down the track once their uranium targets and potential scope of the project becomes a bit more detailed , however I am still puzzled after approx 10 mths why the board has not been able to further delineate or calculate the possibility of halcyon hosting a jorc compliant copper reserve . I understand they have multiple projects on the board and with Andrew as MD and chief operator alternating between vms & hcy and allocating an equal work ethic between the two would be somewhat difficult . The position and or advancement of the copper project has been under review for quite some time
HCY - High Grade Copper Mineralisation - Mr Andrew Radonjic, MD/Executive Director Interview Thu, 25 May 2006
2:00PM
http://www.brr.com.au/event/HCY/931/11243
The recent Uranium announcement looks promising and this recent uranium acquistion should add value to the company further on down the track once their uranium targets and potential scope of the project becomes a bit more detailed , however I am still puzzled after approx 10 mths why the board has not been able to further delineate or calculate the possibility of halcyon hosting a jorc compliant copper reserve . I understand they have multiple projects on the board and with Andrew as MD and chief operator alternating between vms & hcy and allocating an equal work ethic between the two would be somewhat difficult . The position and or advancement of the copper project has been under review for quite some time
HCY - High Grade Copper Mineralisation - Mr Andrew Radonjic, MD/Executive Director Interview Thu, 25 May 2006
2:00PM
http://www.brr.com.au/event/HCY/931/11243
Re: HCY - Halcyon Group
Ouch . that looks painful and could result in concussion . The question you should be asking is " how is the 1.6M being proportinately allocated between the projects " As the ni programme is funded through minarra with hcy maintaining a 30% interest this leaves an allocation of 1.6M for the uranium and copper project . In the overall sceme of things it is not a great deal of money and I wonder if some of the money is being spent on bringing the copper project up to spec to meet jorc compliance as " detailed approx 9 mths " ago . having said this they are doing quite well with the limited resources and capital they have .
Ouch . that looks painful and could result in concussion . The question you should be asking is " how is the 1.6M being proportinately allocated between the projects " As the ni programme is funded through minarra with hcy maintaining a 30% interest this leaves an allocation of 1.6M for the uranium and copper project . In the overall sceme of things it is not a great deal of money and I wonder if some of the money is being spent on bringing the copper project up to spec to meet jorc compliance as " detailed approx 9 mths " ago . having said this they are doing quite well with the limited resources and capital they have .
Re: HCY - Halcyon Group
DYOR
I feel that the results of the uranium sampling program were disappointing and have since sold all my shares. I made a very small profit on the transaction, having averaged down when the price fell as low as 1.5c. Good luck to existing shareholders, but I really thought that if the results had been better, the HCY share price may well have responded accordingly. I have used the proceeds to help pay for 3 million share purchase in RMG.gazelle said:
DYOR
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Re: HCY - Halcyon Group
Hi greggy,
I sold out after the cyclone went through, recalling that getting on to Lake Marmion was a problem after rains in past seasons. I got out a bit hurriedly though, I should have waited for 1.9c. Good luck with RMG.
Hi greggy,
I sold out after the cyclone went through, recalling that getting on to Lake Marmion was a problem after rains in past seasons. I got out a bit hurriedly though, I should have waited for 1.9c. Good luck with RMG.
Re: HCY - Halcyon Group
As for HCY, I thought it would give shareholders the opportunity for a very profitable quick turnaround. Sadly, the uranium results were disappointing IMO and hence my reason to sell.
DYOR
Thanks mate. RMG's management has an excellent reputation and therein lies the opportunity.hector said:
As for HCY, I thought it would give shareholders the opportunity for a very profitable quick turnaround. Sadly, the uranium results were disappointing IMO and hence my reason to sell.
DYOR
Re: HCY - Halcyon Group
I think u did the right thing Greggy..HCY go nowhere but the future of RMG is about to start and the management team look really excellent..I'm in too..goodluck petee and greggy hehe
I think u did the right thing Greggy..HCY go nowhere but the future of RMG is about to start and the management team look really excellent..I'm in too..goodluck petee and greggy hehe
Re: HCY - Halcyon Group
I really thought that HCY would have been re-rated with any positive uranium results. Unfortunately this wasn't to be. Hence, my exit and now into RMG.
DYOR
Hi Petee,
I really thought that HCY would have been re-rated with any positive uranium results. Unfortunately this wasn't to be. Hence, my exit and now into RMG.
DYOR
Re: HCY - Halcyon Group
hi greggy..well the market always knows b4 we do and the U results werent anything really...HCY has to really do something about its capitalisation(ie reconstruction of capital)IMO and then maybe it can move...its been a good trader but need to buy in at .013 or .014 for decent profit...goodluck
hi greggy..well the market always knows b4 we do and the U results werent anything really...HCY has to really do something about its capitalisation(ie reconstruction of capital)IMO and then maybe it can move...its been a good trader but need to buy in at .013 or .014 for decent profit...goodluck
