TON - Triton Minerals

[Miner]

Re: TON - Triton Gold

Folks

Let me confess I do hold TON and am worried for tomorrow.

Hypothetically if the market crashes by 10% or even more I am not going to top up.

My reasoning is very simple. With little joy with the scoping study done by a consultant West Coast Projects (my ignorance even working for three different excellent gold companies -I have never heard of the company name. But now there are so many changed hands in the name of acquisition, merger, organic growth that West something company must have been existing).

Google it - nothing came as west coast projects or Canguro excepting Canguro means Kangaroo

Whitepages search - nothing came as company whereabouts by using Canguro or White Coast Projects
Did some ASIC search and it appears the company previously registered in NSW.


Extracted from ASIC's database at AEST 01:33:28 on 17/02/2010
Name WEST COAST PROJECTS PTY LTD
ACN 002 082 797
ABN 25 002 082 797
Type Australian Proprietary Company, Limited By Shares
Registration Date 10/02/1981
Next Review Date 10/02/2011
Status Registered
Locality of Registered Office Scarborough WA 6019
Jurisdiction Australian Securities & Investments Commission

Previous State NSW
Previous Number 26319345

Former Name(s) CANGURO PTY LTD
It does not matter now and with pre feasibility study another 18 months way, I will be surprised to see how many are going to stick loyal to TON.

So first come first serve probably and who knows how the price will behave in general due to Dow Jones effect end of tonight.

I am not trying to dampen the sentiment but seeing visible signs I just can make poker face to play dumb

DYOR - I am often wrong on my understanding the market and to react. Seek financial and expert advise to make your decision

 

[Atlas79]

Re: TON - Triton Gold

This is a post I've taken from another forum. If to cross post like this is not allowed please forgive & delete, but if this poster's calcs are right, we should not be upset at all:

I see this as a very positive announcement. Do your sums guys upto 85% recovery of gold that is on surface. Remember this is just sitting there in a dam. This is approx $110 million in gold. Great result for shareholders IMO.

 

[Sean K]

Re: TON - Triton Gold

Having real gold actually sitting there is not the issue for a tailing operation. It's low low grade, and a high % of it needs to be economically extracted. All the scoping study has done is show that as low as 68% of it can be extracted, about .5 g/t ish, and they are unable to give a capex or opex. This operation was supposed to be the cash flow to fund further exploration wasn't it? Some were even putting p/e's on it somewhere. It's now going to be months before even a feasability study comes out. This announcement and subsequent sell off by 'short term traders' is by no means an opportunity to top up. This is a highly speculative exploration company with nothing but some waste, and some prospective ground, imo. No way near investment material, but short term trader at best. Hope I'm proved wrong by those who have put more heart and sole into it than I.

 

[Miner]

Re: TON - Triton Gold

Having real gold actually sitting there is not the issue for a tailing operation. It's low low grade, and a high % of it needs to be economically extracted. All the scoping study has done is show that as low as 68% of it can be extracted, about .5 g/t ish, and they are unable to give a capex or opex. This operation was supposed to be the cash flow to fund further exploration wasn't it? Some were even putting p/e's on it somewhere. It's now going to be months before even a feasability study comes out. This announcement and subsequent sell off by 'short term traders' is by no means an opportunity to top up. This is a highly speculative exploration company with nothing but some waste, and some prospective ground, imo. No way near investment material, but short term trader at best. Hope I'm proved wrong by those who have put more heart and sole into it than I.

Well said Kennas (as always you do) and I fully agree .
It reinforces my previous post too.
IMO the company is just now surviving until the end of PFS (remember not even DFS or BFS) in next 18 months
Today market is showing sellers are ready to sell at 18 cents.
I am cynical who have said 85% recovery is good not understanding the CIL recovery has been estimated far lower.
Bottom line is now cash and faster rate of Pay Back . Without DCF it is just guess work.

 

[AussiePaul72]

Re: TON - Triton Gold

Well said Kennas (as always you do) and I fully agree .
It reinforces my previous post too.
IMO the company is just now surviving until the end of PFS (remember not even DFS or BFS) in next 18 months
Today market is showing sellers are ready to sell at 18 cents.
I am cynical who have said 85% recovery is good not understanding the CIL recovery has been estimated far lower.
Bottom line is now cash and faster rate of Pay Back . Without DCF it is just guess work.

Hey Miner, where did you get sellers ready to sell at 18c?? TON sp dropped as most of us expected but only touched 18.5c before closing at 19c. Was definitely a good day on the market today but there seems to be good support level at 18-18.5c. Was a higher volume day for TON after announcement but still stayed within normal trading band.

My read on this is that while the announcement wasn't as good as we were hoping, many investors still see lots of potential in TON's projects. We need to keep in mind that the Windarra Tailings project is NOT a make or break project nor was it ever going to be a company maker.

I didn't invest in TON for the Windarra Tailings project ..... i'm in due to the results they have received to date on other potentially highly prospective projects of which they are currently drilling (from Dec 09 through till Mar 10). This includes a significant drilling program at their 'CORE' project as stated in the last quarterly:

"In December 2009, Triton Gold’s commenced a 10,000m aircore drill
program at its core project, Salmon Gums (100%), in the Albany-
Fraser Province. The program will test a number of large-scale
coherent soil gold anomalies on the project and continue through Q1
2010."

Also TON's cash position as stated in the last quarterly was:

"As at 31 December 2009 Triton Gold Limited had net cash on hand of approximately $4.4 million."

Maybe i have wool over my eyes but i still think TON is in a relatively healthy position with lots of upside as further announcements on potentially company-making projects are released as drill results come to hand and are released. Good luck to all loyal holders!!

ps. I think this is a wonderful thread on TON with everybody free to exercise their opinion .... after all thats what a forum is all about .... thanks to all that have contributed to date .... keep it up!

 

[Miner]

Re: TON - Triton Gold

Hey Miner, where did you get sellers ready to sell at 18c?? TON sp dropped as most of us expected but only touched 18.5c before closing at 19c. Was definitely a good day on the market today but there seems to be good support level at 18-18.5c. Was a higher volume day for TON after announcement but still stayed within normal trading band.

Dear Aussie Paul 72

Hats off to your confidence on TON and strategy to be loyal with TON. It is a healthy sign for the progress of the company.

At the posting of my last mail stating sellers were ready to sell at 18 cents market was not opened. I saw it from the prices shown in Commsec. When market opened the TON came down at 18.5 cents and not 18 cents. It was not an unusual thing. I have seen there are traders who put buy or sell signal and then withdraw /amend their orders probably 5 minutes before market opens.

Any way 18.5 cents was a good sign and aligned with 10% drop as predicted by many of the holders in this forum.

I hope to have clarified you the saga behind 18 cents story.

If I could add my perspective on TON and please DYOR.

Reading through the scanty published scoping study and not seeing any demonstrated evidence of the consultant's track record, elongated and unusual time for PFS I took my own decision and sold off TON at 20 cents today as soon as TON commenced trading. Having bought at an average 18 cents I was still in green but will not look greener if TON exceeds 21 cents or so in couple of weeks.

As a miner I do believe there is a technical strength on the concept from TON process . However whether to transfer a concept into a business solution requires further studies, expenditure and brain That is why companies spend money on PFS and BFS (and hire people like me to conduct those studies and hence provide my wages to spend on family and little surplus on shares . My wife calls it my addiction or gambling on shares ) .

I being impatient and with my own strategies just can not wait for 18 months from now for such projects.

Please read my previous postings on TON and I have been consistent.

But that was my strategy to stop loss and I am happy with the cash received today to be invested on something else.

My best wishes for TON holders and loyalists. I may return to TON investment again as the development report comes from the company and how the price travels in near future. Until that happens :bekloppt:

 

[AussiePaul72]

Re: TON - Triton Gold

Dear Aussie Paul 72

Hats off to your confidence on TON and strategy to be loyal with TON. It is a healthy sign for the progress of the company.

At the posting of my last mail stating sellers were ready to sell at 18 cents market was not opened. I saw it from the prices shown in Commsec. When market opened the TON came down at 18.5 cents and not 18 cents. It was not an unusual thing. I have seen there are traders who put buy or sell signal and then withdraw /amend their orders probably 5 minutes before market opens.

Any way 18.5 cents was a good sign and aligned with 10% drop as predicted by many of the holders in this forum.

I hope to have clarified you the saga behind 18 cents story.

If I could add my perspective on TON and please DYOR.

Reading through the scanty published scoping study and not seeing any demonstrated evidence of the consultant's track record, elongated and unusual time for PFS I took my own decision and sold off TON at 20 cents today as soon as TON commenced trading. Having bought at an average 18 cents I was still in green but will not look greener if TON exceeds 21 cents or so in couple of weeks.

As a miner I do believe there is a technical strength on the concept from TON process . However whether to transfer a concept into a business solution requires further studies, expenditure and brain That is why companies spend money on PFS and BFS (and hire people like me to conduct those studies and hence provide my wages to spend on family and little surplus on shares . My wife calls it my addiction or gambling on shares ) .

I being impatient and with my own strategies just can not wait for 18 months from now for such projects.

Please read my previous postings on TON and I have been consistent.

But that was my strategy to stop loss and I am happy with the cash received today to be invested on something else.

My best wishes for TON holders and loyalists. I may return to TON investment again as the development report comes from the company and how the price travels in near future. Until that happens :bekloppt:

Hi Miner ..... totally understand where you got the 18c from now ..... typical traders playing silly buggers prior to market open .... it actually didn't dip to 18.5c till early afternoon.

I respect your opinion on TON .... disagree with you ....but totally respect you ..... i may be proven wrong but at this stage i'm still a supporter on the info i have at hand.

You still made a small profit on your investment and thats the aim of the game ..... well done!

All the best mate on your future investments .... don't forget to keep an eye on TON!!

 

[Miner]

Re: TON - Triton Gold

Hi Miner ..... totally understand where you got the 18c from now ..... typical traders playing silly buggers prior to market open .... it actually didn't dip to 18.5c till early afternoon.

I respect your opinion on TON .... disagree with you ....but totally respect you ..... i may be proven wrong but at this stage i'm still a supporter on the info i have at hand.

You still made a small profit on your investment and thats the aim of the game ..... well done!

All the best mate on your future investments .... don't forget to keep an eye on TON!!

Aussie Paul 72

First of all thanks for taking care to respond.

I meant not to invade TON for sometime to check my temptation.

But it is bad addiction as you know. So I saw your mail.

I felt privileged to see that you have actually put your point very kindly and that should be the right spirit of this or any good forum.

Thanks for showing your respect to this fellow's opinion and I value it immensly.

As my avtar like Socrates I always like to keep the wisdom (your respect) and ready to drink a cup of Helmlock (poison or loss in the share market) than loosing the wisdom.

Sorry folks - all philosophy and off the topic as I do not have any tons of TON against my name.

Good night to TON holders and good luck.

Regards

 

[condog]

Re: TON - Triton Gold

Holding nicely Paul which is a sign i like to see....one of the benefits of low turnover stock....disciplined holders that done sell off and destroy value based on nothing.....

Looking forward to comprehensive drilling results in march and sporadic news worthy interem results between now and then...

 

[noirua]

Re: TON - Triton Gold

The reported plan that the IMF have in place to sell gold has affected all the gold mining stocks. It could be a while before investing in gold stocks comes back in vogue again.

 

[condog]

Re: TON - Triton Gold

The reported plan that the IMF have in place to sell gold has affected all the gold mining stocks. It could be a while before investing in gold stocks comes back in vogue again.

Its only $6B worth, wont take too long for that to be gobbled in the current market....

China and India will want their fair share and China may even purchase the lot if offered it....Im sure theyde rather hold $6B of gold then another $6 potentially worthless USD...after all its only about 5 minutes trade surplus for them.

 

[AussiePaul72]

Re: TON - Triton Gold

Holding nicely Paul which is a sign i like to see....one of the benefits of low turnover stock....disciplined holders that done sell off and destroy value based on nothing.....

Looking forward to comprehensive drilling results in march and sporadic news worthy interem results between now and then...

Yeah agree Condog ..... those that wanted out seemed to have mostly gone yesterday ..... with much lower volume going through today .... and only approx 10,000 of todays traded at 18.5c .... very little on offer below 20c as it stands now. We may see a bit of a standoff between buyers and sellers possibly until some more news comes forth. Looking forward to release of drill results

 

[Sean K]

Re: TON - Triton Gold

Holding nicely Paul which is a sign i like to see....one of the benefits of low turnover stock....disciplined holders that done sell off and destroy value based on nothing......

I don't want seem to be continually negative.....but I will have to once again. While you may think there are some disciplined holders here, they could just as well run for the covers down the track when others stampede, just as we saw during the peak of the GFC. Especially for low volume/illiquid stocks like this. Once punters are desperate they will sell in to ANY buy price no matter what the spread. I've seen the dramatic effects of this on numerous occasions. You do NOT want to be the disciplined faithful holder when the lemmings start jumping off the cliff.

Again, please don't think me to be overly negative here, just calling it as I see it. I have continually bagged my own stocks on too many occasions to mention.

 

[condog]

Re: TON - Triton Gold

I don't want seem to be continually negative.....but I will have to once again. While you may think there are some disciplined holders here, they could just as well run for the covers down the track when others stampede, just as we saw during the peak of the GFC. Especially for low volume/illiquid stocks like this. Once punters are desperate they will sell in to ANY buy price no matter what the spread. I've seen the dramatic effects of this on numerous occasions. You do NOT want to be the disciplined faithful holder when the lemmings start jumping off the cliff.

Again, please don't think me to be overly negative here, just calling it as I see it. I have continually bagged my own stocks on too many occasions to mention.

That analogy is 100% correct, but not for this context. The resource they have developed so far is extremely high class.

Wyndarra is worth approx 100,000 oz to TON. The benefit of wyndarra was its ability to provide very near term positive cash flow.
Albanny Fraser is possibly worth several million oz. (and so far looking very very good).

 

[AussiePaul72]

Re: TON - Triton Gold

I don't want seem to be continually negative.....but I will have to once again. While you may think there are some disciplined holders here, they could just as well run for the covers down the track when others stampede, just as we saw during the peak of the GFC. Especially for low volume/illiquid stocks like this. Once punters are desperate they will sell in to ANY buy price no matter what the spread. I've seen the dramatic effects of this on numerous occasions. You do NOT want to be the disciplined faithful holder when the lemmings start jumping off the cliff.

Again, please don't think me to be overly negative here, just calling it as I see it. I have continually bagged my own stocks on too many occasions to mention.

Kennas, you are exactly right and this is definitely a possiblity. However, it is the same with every exploration stock. However, it doesn't appear that the crowd is going on a big sell off relating to the Windarra project news to date .... and nor should they ..... TON has projects that they are currently drilling that could be in the 10-50 fold larger category (1-5M ounces) or even bigger ...... refer to their comparison of the 5M ounce Au Tropicana resource in the same region and their Salmon Gums project in TON's announcements (comparison on gold in soil values which is early exploration but it looks very encouraging).... however, TON's gold resource is only speculation at present so please DYOR..... but again i stress that the early results looking promising ..... as with all exploration stocks they are high risk and you need to be prepared to take the good with the bad!
Appreciate your comments Kennas as you've been around the traps for a long time and experience counts for a lot! I remember reading the AZM thread which you were a regularly contributor and the ups and downs their for a long time.

 

[AussiePaul72]

Re: TON - Triton Gold

It wasn't released in an announcement on the ASX but there is a Boardroom Radio Broadcast dated 24/2 last week with TON's managing director, Greg Hall. This is quite informative as Greg discusses the Windarra project and also the potential company maker project, Salmon Gums. He also eludes to initial drilling results for the Salmon Gums project close to release. Well worth a listen .... www.brr.com.au/event/64302

 

[quinn123]

Re: TON - Triton Gold

Are the soil values for Salmon Gums in ppm or ppb? Seems to change in the announcments...

I'm assuming its PPB!

 

[AussiePaul72]

Re: TON - Triton Gold

It wasn't released in an announcement on the ASX but there is a Boardroom Radio Broadcast dated 24/2 last week with TON's managing director, Greg Hall. This is quite informative as Greg discusses the Windarra project and also the potential company maker project, Salmon Gums. He also eludes to initial drilling results for the Salmon Gums project close to release. Well worth a listen .... www.brr.com.au/event/64302

Well better late than never ........ the announcement regarding the BRR interview with Greg Hall (24 Feb) was released on the ASX after market close today ..... wonder why it took so long to release on ASX? Anyway thats a minor issue .... drilling results are close to release and will continue as they become available from the current continuing drilling program

 

[condog]

Re: TON - Triton Gold

Update on salmon Gums out today.

Miner if your still around on this one, this is the real deal, Wyndarra was only ever good for near term cash flow.

Nothing we didnt know, but nice to know its proceeding to planed timeline.


SALMON GUMS PROJECT EXPLORATION UPDATE•
Triton Gold actively advancing exploration in the Albany-Fraser Province
•
12,500m AC drilling program at Salmon Gums due to be completed this month
•
Lady Penryhn and Sirius anomalies the focus of continued AC drilling
•
Salmon Gums remains core focus for exploration, RC and Diamond drilling to commence later this month


Triton Gold Limited (ASX: “TON”, “Triton”, the “Company”) is pleased to provide the following update of activities for its exploration tenements in the Albany-Fraser Province of Western Australia.
Triton is continuing to explore the region as a follow up to soil-sampling programs in 2009 at the Salmon Gums project that identified seven anomalies that warranted drill testing. Exploration over this area is targeting primarily gold mineralisation similar in style and size to the Tropicana deposit (+5Moz gold) located 500km to the northeast of Salmon Gums project.
Triton is due to complete a 12,500m aircore drilling program at the Company’s Salmon Gums project that commenced in December 2009, this month. This program follows a 3909m aircore program (148 holes) completed in January 2009.
As part of the current 12,500m aircore drilling program, approximately 450 holes will be drilled to locate a bedrock source of the anomalous gold-in-soil defined at five gold prospects (refer to Appendix: Figure 1).
Triton Gold’s Managing Director, Mr Greg Hall, said the initial results from the aircore drilling have identified gold anomalism in the bedrock beneath the soil anomalies at Salmon Gums.
The assays of the drill samples and geological information are currently being processed to define the drill targets for the upcoming campaign of reverse circulation and diamond drilling due to commence this month.

 

[Miner]

Re: TON - Triton Gold

Update on salmon Gums out today.

Miner if your still around on this one, this is the real deal, Wyndarra was only ever good for near term cash flow.

Nothing we didnt know, but nice to know its proceeding to planed timeline.


SALMON GUMS PROJECT EXPLORATION UPDATE•
Triton Gold actively advancing exploration in the Albany-Fraser Province
•
12,500m AC drilling program at Salmon Gums due to be completed this month
•
Lady Penryhn and Sirius anomalies the focus of continued AC drilling
•
Salmon Gums remains core focus for exploration, RC and Diamond drilling to commence later this month
.

Condog

Thanks for thinking of me.

I do not hold TON any more and so went to the stock trading record this week.

I thought with the report published today and if your analysis (I am not questioning it but just referring it) is right then stock price should have well received by the market.

ON the contrary I noticed there was only two trades and share price went down in contracdiction of expectation to go up today with the news declared.

Further Commsec record shows there are now
14 buyers for 679,908 units 33 sellers for 1,117,726 units

Some thing just not matching and I would like to see what happens tomorrow.

Thanks again for waking me up