XAM - Xanadu Mines

[Beaches]

And thats just in the last 3 months, there was endless pressure before
I understand system traders do not care about actual assets, i know and apply that but investors should be aware when mines are in the middle of china -west trade wars or in IS territory.
The very worst is that it probably does not even matter for the SP?

Seems more like your everyday garden variety commercial dispute (which is not uncommon for RIO wherever it goes) rather than a sovereign or political issue.
.

 

[Sean K]

Seems more like your everyday garden variety commercial dispute (which is not uncommon for RIO wherever it goes) rather than a sovereign or political issue.
.

Seems like they've sorted this out.

Rio Tinto, Mongolia agree to replace Oyu Tolgoi expansion plan

News of the agreement comes as the Australian Taxation Office has hit the miner with a new $317 million bill.

www.mining.com

Strange none of this is mentioned on Rio's web page.

 

[greggles]

Strange none of this is mentioned on Rio's web page.

Good news stories get on the web page, bad news stories get buried and forgotten, even if they get worked out in the end.

 

[qldfrog]

just have to say that I remember reading about serious threat of expulsion, etc well well before this year, when I was still active in the mining world aka 8y ago or so
As far as I can remember, RIO and Mongolia have been an ongoing headache..I let you see what you can find on the web, but when I see mongolia and australian investment together, it brings flashing red lights
DYOR

 

[Sean K]

I've picked this in the monthly comp mainly due to the chart. Just looks way oversold based on drilling results that didn't hit the intended mark. I thought .04 would have been a bottom and I grabbed some at that point, but it's managed to make it closer to the .03 support mark. eeeek. Seems to have held up, for now.

I'm speculating on hole 571 hitting some nice rocks. Assays should be out this month, I hope.

 

[Sean K]

Something strange happened on Friday, ref volume. I'm out till I see something more positive on the chart.

 

[Sean K]

One out of four holes look good. The rest are very average and at depth. They missed the high grade bornite zone at Stockwork Hill with hole 571, again! Perhaps there's just no more high grade there folks? Or, you can't control your drills.

Going to need more than 1Bt with these grades and depths, imo.

 

[greggles]

Average grades, too deep. Add in the Mongolia factor and I feel there are better opportunities elsewhere. XAM could come good in the end, but I suspect that in the absence of any good news in the short term it will probably come under selling pressure in the coming weeks and might test previous lows at 3c.

 

[Sean K]

Average grades, too deep. Add in the Mongolia factor and I feel there are better opportunities elsewhere. XAM could come good in the end, but I suspect that in the absence of any good news in the short term it will probably come under selling pressure in the coming weeks and might test previous lows at 3c.

I think at these grades and depths they need to find something else between the current envelope and confirm the high grade area under Stockwork Hill, that they've been trying to do for months. That's been a debacle.

One assay outstanding with three currently being drilled. Hole 574 going to 1800m!

I'm keeping it on the radar because if they can fill in some of the blanks with the exploration program there is going to be a lot of copper in there. Only a couple of major discoveries the past few years and the old mines are getting older. And these big porphyrs take years to develop. Copper is going up, up, up, I think.

Probably need another high grade zone closer to surface.

 

[greggles]

Worth keeping an eye on for sure, but anyone looking for an entry point should probably hang on. After climbing to 3.9c earlier today, XAM is now back at 3.7c and will likely finish at 3.6c based on today's trading.

I agree with you about copper generally, but XAM are going to need to deliver some good assay results to get the share price heading north again.

 

[Sean K]

How much lower can this thing go, with JORC 1.9Mt Cu and 4.3M oz au expanding exploration resource with a $42.6m MC?

I thought .04 might have been a good time to get my fingers dirty, but surely it's time for another pick. ?

Someone tell me, kennas DON'T DO IT!!!

 

[greggles]

How much lower can this thing go, with JORC 1.9Mt Cu and 4.3M oz au expanding exploration resource with a $42.6m MC?

The question is, why are the sellers selling? I haven't been keeping up with the announcements. There must be a reason for it.

 

[peter2]

Mongolia - where investment capital goes to die.
Just ask Rio TInto about their Mongolian investment.

 

[Sean K]

The question is, why are the sellers selling? I haven't been keeping up with the announcements. There must be a reason for it.

I've been reading them all back for some time. The only thing they're really failing on is a high grade zone they want to establish with something like >100Mt@0.8% CuEq. They keep missing it, or it doesn't exist.

Other exploration has been prospective.

Mongolia - where investment capital goes to die.
Just ask Rio TInto about their Mongolian investment.

Yeah, Oyu Tolgibear, or whatever, has been a pain for them, but it got built and the underground seems to be going ahead. They've spent billions on it.

I might put an order in at 0.0001 and wait for it to be picked up.

 

[Beaches]

Just ask Rio TInto about their Mongolian investment.

Rio Tinto have arguments everywhere they go

@kennas Go ahead .. you know you want to.

 

[Sean K]

Go ahead .. you know you want to.

This is getting so ugly I almost just can't help myself. ? ?

 

[Beaches]

Very thinly traded currently, only $19,473 traded today.
Not a lot sitting in the supply queue. For an average entry price of 3.6 cents, $35k would take out everything to 4c and you could let the day traders sort it out from there

 

[Sean K]

Finally put another hole through the high grade bornite zone and extended it a bit. This is the area they want to shore up a high grade 100Mt@.8% Cu eq lode. No talk about the 50-50 fault and why that wasn't an issue drilling into this zone this time. 240m@1.36% is very good. Drilling since the last MRE really should expand the resource quite a bit.

Up 10% but still languishing down at 3c.

 

[Sean K]

Still watching this ?day by day. Looks like it might have started a bottom. But, it still looks like a giant ?

 

[Sean K]

Wow! XAM had a green day! up 16%, or 0.004c. Incredible. Market Cap under $40m with $10m in the bank. Mr Market is putting a HUGE discount on these guys due to the Mongolia thing. I've been in and out of this a couple of times, now waiting for some sort of positive signals in the chart. Still looks like a ? at the moment.