drbubb Posted August 18, 2006 Report Share Posted August 18, 2006 "We continue to see clear evidence of base-building in the junior mining sector which bodes well for a new bull phase late in Q3/06. This said, volumes still remain light and an improvement is required to confirm this potential." We have been suggesting that the sharp Q2 sell-off in the junior mining sector had reached a level where base-building was commonplace. In other words, the selling pressure has abated and selective buying now has to begin to consider chasing the offers in order to build a position. Volumes on the TSX Venture have based in the 85-100 million share per day range. Our gold in situ weekly value is basing. Individual charts, more and more, are demonstrating this action and appear poised for a late Q3/06 attempt at a rally into a new bull phase for the sector. Last week we demonstrated this action with the charts of Atna Resources, Corriente Resources, Nevsun Resources, and Western Keltic Mines. This week we will add a few more charts for visual confirmation of this emerging pattern. We include the following below: Committee Bay Resources, Grayd Resources, Linear Gold, Orezone Inc., Sunridge Gold, and Wolfden Resources. Some worth a closer look, basis charts or comments: Committee Bay (v.CBR) : comment, chart at c$0.50 ... update Grayd Resources (v.GYD) : chart, at c$0.50-0.60? ... update Linear Gold (t.LRR) : chart, at c$4.60? ... update Orezone Resources (t.OZN) : chart at c$1.40 ... update Wolfden Resources (t.WLF) : chart, at c$2.50 ... update American Bonanza Gold Corp. BZA : TSX 85.8 Copperstone gold project, Arizona ... update New Phase 1 drill program commenced with 35 holes on 10 targets for 45,000 feet drilling. Gold Canyon Res. GCU : TSX-V 35.3 Cordero gallium project, Humboldt Cty, NV ... update 25,000 feet RC drilling commenced on to expand resources at Cordero, largest known primary gallium resource in North America. Sutter Gold Mining Inc. v.SGM : TSX-V 52.0 Sutter Gold Project, Sutter Creek, Cal. ... update /1907058 Phase 2 surface diamond drill program commencing for approx. 9,000 feet. SOME COMPARISONS== Sh o/s Price C$ Mkt. Cap Sum Oz Mkt Cap/oz Mkt Cap/oz Company Sym M 10-Aug-06 $M Project Name Country per co. M/oz C$ M/oz US$ American Bonanza BZA : T 85.80 0.42 36.04 Copperstone US 2.074 17.37 14.77 (+Fenelon Canada, +Gold Bar US, +Northway Canada, +Taurus Canada) Aquiline Resources Inc. AQI:T 42.25 4.55 192.24 Calcatreu Argentina 5.499 34.96 29.71 (+Navidad Argentina) Committee Bay Resources CBR:V 54.87 0.58 31.82 Three Bluffs Canada 1.302 24.45 20.78 (+RJV Australia) Kimber Resources KBR:T 47.10 2.49 117.28 Carmen Mexico 1.659 70.70 60.09 (+Carotare Mexico) Nevsun Resources NSU:T 102.60 3.50 359.10 Bisha Eritrea 5.287 67.92 57.73 (+Tabakoto Mali, +Segala Mali) Wolfden Resources WLF:T 74.60 2.73 203.66 High Lake Canada 2.086 97.63 82.99 (+East Bay Canada, +Ulu Canada, +Izok Lake Canada, +Lupin Canada) Committee Bay (v.CBR) Last week CBR announced the results from the first six drill holes at the West Plains area. Hole 6WP06 intersected 13.14 g/t Au over 8.0 metres and was drilled parallel to and below Hole 5WP04 that was drilled in 2005 and had intersected 36.8 metres grading 6.04 g/t Au including 8.73 metres grading 14.76 g/t Au. Hole 6WP10 was collared at 50 metres northeast of Hole 6WP06 and intersected 8.44 g/t Au over 7.0 metres, including 2.0 metres grading 19.65 g/t Au. These intersections have extended the high-grade mineralized zone to over 200 metres in strike length and to 80 metres vertical depth, with the latest drilling having high grade intersections flanked by lower grade zones within a mixed assemblage of mafic and ultramafic volcanics, and sedimentary rocks, with interbedded silicate iron formation. The gold mineralization is associated with the strongly sheared and sulphidized iron formation rich sediments adjacent to the mafic volcanic layer. Drilling is continuing at West Plains on the sub-parallel structures defined by the Mag-EM surveys that have defined the structures for over five kilometres. The addition of a second drill is currently being considered for the remainder of the field season. CBR’s other main focus is in Western Australia on the Redemption Joint Venture (RJV) which is a 50/50 partnership with Focus Minerals Ltd. (FML : ASX), and has the mineral rights to more than 210 kilometres of greenstone tenements, located just west of the Kalgoorlie gold belt, one of the world’s most significant gold mining regions. The tenements contain Indicated resources of 315,720 ounces gold (5.32 million tonnes at 1.8g/t Au) and Inferred resources of 1,080,825 ounces gold (13.7 million tonnes at 2.5g/t Au). The RJV also has a 100% interest in the fully permitted, 1.2mtpa, Three Mile Hill Mill processing plant. A scoping study has been initiated to determine the viability of reactivating the Three Mile Hill Mill in the near term. Committee Bay Resources currently has 69.2 million shares issued and outstanding (86.7 million shares fully diluted) with a market capitalization of $40.1 million. On July 31, 2006 CBR completed a brokered private placement for C$8.0 million in which Canaccord Adams acted as an agent. Working capital is $7.8 million. Canaccord Adams has the shares of the company rated a SPECULATIVE BUY with a $1.20/share target price. To derive target we employ our in situ valuation method which is applied to both the assets in Australia and in Nunavut. Link to comment Share on other sites More sharing options...
HollandPark Posted August 18, 2006 Report Share Posted August 18, 2006 Grayd Resources (v.GYD) : the chart looks interesting Grayd Resources is an exploration company ...with a large land package next to Alamos Gold’s Mulatos mine. Its La India project covers 10kmof strike length along the mineralized Mulatos Belt. This is an area play and Newmont Mining recently recognized it. Newmont nowholds an option to earn a 51% interest in the project by spending US$7 million over four years, with US$1 million in the first. It can earn upto 70% by completing a feasibility study. Newmont’s due diligence work and geophysical surveys identified 14 targets with the potential to host epithermal gold targets. Initial drilling intersected gold bearing structures including 85.3m at 2.6 g/t gold. Newmont sees similarities to this belt with its Yanacocha Minein Peru. We expect further drilling results from this program to generate more good gold intercepts on this play. With the support of Newmont, we believe this stock should attract further market interest. - - - BACK IN JANUARY... Profit-taking was the story of the day for Grayd Resources. Last week, the Marc Prefontaine-led junior announced the discovery of a new zone of gold mineralization at the La India project in Mexico. The reverse circulation hole hit 85.3 metres grading 2.6 grams gold per tonne. Included in this section was a higher-grade portion averaging 7.2 grams gold per tonne over 9.1 metres. La India is located only 7 km from Alamos Gold's Mulatos open pit, and Newmont is funding the drill program as part of an option agreement where the major is to earn an initial 51% in the property by spending $7 million over 4 years. Grayd, which gained C$0.83 last week, ended this week at C$1.14, down C$0.24. Alamos on the other hand continued to soar as the company reported that drilling on the Escondida Hanging Wall zone returned intersections of 28.97 metres grading 21.28 grams gold per tonne and 24.39 metres averaging 35.78 grams gold per tonne. Very nice and investors stood up and took notice as shares in Alamos added C$1.52 to close at C$9.35. £££££££ GYD's website : Link to comment Share on other sites More sharing options...
frizzers Posted August 18, 2006 Report Share Posted August 18, 2006 Almost 0 volume this last month Link to comment Share on other sites More sharing options...
drbubb Posted August 19, 2006 Author Report Share Posted August 19, 2006 YES. GYD.v has fallen back into the gap- where selling has dried up. BUYERS must be awaiting some news ... Grayd Resources begins drilling at La India 2006-08-17 10:23 ET - News Release Mr. Marc Prefontaine reports GRAYD COMMENCES DRILLING AT LA INDIA PROJECT, MEXICO Grayd Resource Corp. confirms that drilling has commenced today on Grayd's wholly owned La India project located in Sonora state, Mexico. The first target will be the La Cruz zone, following up from intersections in RC05-14 (85.3 metres grading 2.6 grams per tonne gold) and RC06-17 (51.8 metres grading 1.64 grams per tonne gold). An initial 30 holes (3,000 metres) are planned. Most holes will be within a 1,600- by 800-metre area that contains three zones with potential for near-surface heap leachable deposits (La Cruz, Cerro de Oro and Viruela). Drilling will also target the Nopal zone, a buried high-sulphidation system with only one drill hole to date, and the Espanola and Cieneguita zones in the north part of the property, which have potential for near-surface resource. Mapping and sampling will continue to explore other parts of Grayd's 24,515-hectare property. A map showing property location and exploration zones is available the company's website. Drilling will be by Layne de Mexico, using a track-mounted reverse circulation rig. Hans Smit, PGeo, vice-president of exploration for Grayd, is the qualified person directing the exploration at La India. Samples are sent to the ALS Chemex facility in Hermosillo, Mexico, for sample preparation and then to the ALS Chemex laboratory in Vancouver for gold assay and ICP. Quality assurance and quality control procedures used include assay standards and blanks = = At C$0.72: x Shares Outstanding 47,988,670 = Market Cap $ 34,551,842 Corporate Website : http://www.grayd.com/s/Home.asp Link to comment Share on other sites More sharing options...
drbubb Posted August 22, 2006 Author Report Share Posted August 22, 2006 SOME OPINIONS on Brokers, as reported on RUG One man's opinion: Worst brokers for issuing bought deal/overpromoted crap: BMO Nesbitt RBC Dominion Canaccord Williams de broe Paterson ord Minnett Bolder Capital Worst brokers for sheer promotion and bad analysis: Canaccord ABN Amro Research Capital Paterson Ord Minnett Best brokers for analysis and research Southern Cross Equities Euroz Hartley Poynton Seymour Pierce Hargrave hale (excluding Petra!) Haywood jennings Mirabaud Best brokers for market access and stock picking of early stage situations Canaccord (specific guys) Haywood Mirabaud Southern Cross Hartley Poynton Intersuisse Jennings Dundee PI Securities @: http://www.advfn.com/cmn/fbb/thread.php3?i...&from=18820 Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.