ZGM - Zamia Metals
- Thread starter DJG
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Re: ZGM - Zamia Gold Mines
Nope, watching. This is one of them lotto days. Someone who brought in a 4.5c this morning is now up 177% ... and climbing? Sellers drying up - think it will have a bit of a run and then???? Could end the day beautifully???
Brad
Nope, watching. This is one of them lotto days. Someone who brought in a 4.5c this morning is now up 177% ... and climbing? Sellers drying up - think it will have a bit of a run and then???? Could end the day beautifully???
Brad
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Re: ZGM - Zamia Gold Mines
Err the announcement relates to a molybdenum deposit, not gold. Lol! School boy error that one.
To restate, the announcement is 81mt @ 0.043% moly (430 ppm) above a cut-off of 0.02% moly. As an examply, Moly Mines (ASX: MOL) Spinifex Ridge JORC is 652mt @ 0.05% moly (with a 2% cut-off).
For those not in the know, molybdenum is a specialty metal used as an alloy in steel production (hardens steel and improves its flexibility). Moly prices had a golden run pre-GFC hitting +$40 USD/lb. It has since retraced with molybdenum oxide fethcing +$17US/lb.
To repeat, Anthony is not a gold deposit!!
Err the announcement relates to a molybdenum deposit, not gold. Lol! School boy error that one.
To restate, the announcement is 81mt @ 0.043% moly (430 ppm) above a cut-off of 0.02% moly. As an examply, Moly Mines (ASX: MOL) Spinifex Ridge JORC is 652mt @ 0.05% moly (with a 2% cut-off).
For those not in the know, molybdenum is a specialty metal used as an alloy in steel production (hardens steel and improves its flexibility). Moly prices had a golden run pre-GFC hitting +$40 USD/lb. It has since retraced with molybdenum oxide fethcing +$17US/lb.
To repeat, Anthony is not a gold deposit!!
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Re: ZGM - Zamia Gold Mines
This is a good resource www.infomine.com that can be used to find out prices etc.
In terms of moly, it is usually traded in USD
This is a good resource www.infomine.com that can be used to find out prices etc.
In terms of moly, it is usually traded in USD
springhill
Make the drill work for YOU
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MC - $7.5m
SP - 3c
Shares - 247m
Options - Nil quoted
Cash - $456
AGREEMENT FOR JOINT VENTURE EXPLORATION WITH GOLD FIELDS AUSTRALASIA PTY LIMITED
Under the Agreement Gold Fields can earn rights in two option periods by funding $10 million in exploration expenditure to earn up to a 70% joint venture interest in 3 EPMs out of 9 EPMs which are the subject of the Agreement. A Joint Venture between Zamia and Gold Fields will be formed during or after the option periods upon Gold Fields having satisfied prescribed expenditure conditions.
The Agreement contains the following principal terms:
● During the First Option Period of three (3) years, Gold Fields has the right to explore in 9 EPMs, initially, and earn a 51% joint venture interest in up to three EPMs nominated by Gold Fields after spending $4 million, inclusive of $1 million Minimum Expenditure; (refer below).
● During the Second Option Period of three (3) years, Gold Fields, after earning 51% joint venture interest, has the right to earn an additional 19% interest (total 70%) by funding $6 million in exploration expenditure on the nominated EPMs.
● Gold Fields has the right to terminate the 51% Option during First Option Period after spending $1 million (Minimum Expenditure), but without earning an interest in any EPMs.
● Gold Fields has the right to terminate the 19% Option during Second Option Period after spending a minimum of $0.5 million, but without earning additional joint venture interest above 51%.
● A Joint Venture between Zamia and Gold Fields will be formed during or after the option periods upon Gold Fields having satisfied the expenditure conditions.
● the 9 EPMs held by the Company which are the subject of the Agreement are: part of EPM15145 (Mazeppa Extended), part of EPM14790 (Mazeppa), EPM14792 (Mt Rolfe), EPM17488 (Mistake Creek), EPM17529 (Barcombe), EPM17555 (Gregory), EPM16523 (Bullock Creek), EPM16524 (Logan Creek) and EPM18598 (Cairo). (Zamia’s Anthony Molybdenum Project Area is excluded from the Agreement with Gold Fields.)
Anthony Molybdenum
Resource Update
· Independent resource consultants, Hellman & Schofield Pty Ltd, have updated the Inferred Resource estimate for the Anthony molybdenum (Mo) deposit
· New assay data from 1,741 metres (m) of infill and deeper diamond drilling resulted in slight increases to the June 2011 resource estimate and adds confidence to the estimate
· The Inferred Resource for the primary (sulphide) zone stands at 112 million lb of contained Mo using a 400 ppm Mo cut-off grade
· The Inferred Resources for the oxide and partial oxide zones are 20 and 6 million lb, respectively, of contained Mo using a 400 ppm Mo cut-off grade
· Preliminary metallurgical results of the primary zone resulted in Mo recoveries of approximately 85% and range from 80 to 95%.
· New metallurgical test work on partial oxide zone samples indicates that a Mo recovery of >44% is achieved by sulphide flotation. External leaching tests have indicated that over 85% of the oxide or non-sulphide Mo is potentially recoverable.
SP - 3c
Shares - 247m
Options - Nil quoted
Cash - $456
AGREEMENT FOR JOINT VENTURE EXPLORATION WITH GOLD FIELDS AUSTRALASIA PTY LIMITED
Under the Agreement Gold Fields can earn rights in two option periods by funding $10 million in exploration expenditure to earn up to a 70% joint venture interest in 3 EPMs out of 9 EPMs which are the subject of the Agreement. A Joint Venture between Zamia and Gold Fields will be formed during or after the option periods upon Gold Fields having satisfied prescribed expenditure conditions.
The Agreement contains the following principal terms:
● During the First Option Period of three (3) years, Gold Fields has the right to explore in 9 EPMs, initially, and earn a 51% joint venture interest in up to three EPMs nominated by Gold Fields after spending $4 million, inclusive of $1 million Minimum Expenditure; (refer below).
● During the Second Option Period of three (3) years, Gold Fields, after earning 51% joint venture interest, has the right to earn an additional 19% interest (total 70%) by funding $6 million in exploration expenditure on the nominated EPMs.
● Gold Fields has the right to terminate the 51% Option during First Option Period after spending $1 million (Minimum Expenditure), but without earning an interest in any EPMs.
● Gold Fields has the right to terminate the 19% Option during Second Option Period after spending a minimum of $0.5 million, but without earning additional joint venture interest above 51%.
● A Joint Venture between Zamia and Gold Fields will be formed during or after the option periods upon Gold Fields having satisfied the expenditure conditions.
● the 9 EPMs held by the Company which are the subject of the Agreement are: part of EPM15145 (Mazeppa Extended), part of EPM14790 (Mazeppa), EPM14792 (Mt Rolfe), EPM17488 (Mistake Creek), EPM17529 (Barcombe), EPM17555 (Gregory), EPM16523 (Bullock Creek), EPM16524 (Logan Creek) and EPM18598 (Cairo). (Zamia’s Anthony Molybdenum Project Area is excluded from the Agreement with Gold Fields.)
Anthony Molybdenum
Resource Update
· Independent resource consultants, Hellman & Schofield Pty Ltd, have updated the Inferred Resource estimate for the Anthony molybdenum (Mo) deposit
· New assay data from 1,741 metres (m) of infill and deeper diamond drilling resulted in slight increases to the June 2011 resource estimate and adds confidence to the estimate
· The Inferred Resource for the primary (sulphide) zone stands at 112 million lb of contained Mo using a 400 ppm Mo cut-off grade
· The Inferred Resources for the oxide and partial oxide zones are 20 and 6 million lb, respectively, of contained Mo using a 400 ppm Mo cut-off grade
· Preliminary metallurgical results of the primary zone resulted in Mo recoveries of approximately 85% and range from 80 to 95%.
· New metallurgical test work on partial oxide zone samples indicates that a Mo recovery of >44% is achieved by sulphide flotation. External leaching tests have indicated that over 85% of the oxide or non-sulphide Mo is potentially recoverable.
