Many thanks......Disney is good......if you have a copy of his "write-up" I'd like to see it.
Another I am currently researching is Zimplats.......
Anyway, here's an updated version of my PGM research:
I am slowly collecting information about companies invested in PGM exploration and/or mining.
I. Exhaustive List
The following is a list of all of the companies (excludes SA biggies) that I have located that are known to be or gsupposedlyh involved with PGM exploration and/or mining. Pls let me know if you come across any others that should be added.
I am aware that most of these companies most likely have gno fundamental underpinnings,h but I think it is important to begin research with a broad base, and then pick out the gems.
ABM.V AGS.V AQI.V AQP.AX ARQ.V
ATG.V AVL.V AZX.V BMD.V CGG.V CML.V
CVA.V DBL.V EWR.V FGRA.V GLB.M GLM.V
HMV.V IDO.V LMX.V MEO.V MGAUE.OB
MMIN.C MSK.V NBL.V NSR.TO PDL.TO PFN.V
PMX.V PNRR.OB PTX.TO SOE.V SUF.TO SWC
TTS.TO UVN.V VIA.TO ZIM.AX
II. Specific Companies with Fundamental Underpinnings
The following is a summary of info that I will be slowly collecting about some of the more interesting companies in this field.
A. Company: Zimplats (ZIM.AX)
This is an exciting company, and was created as a demerger from Delta Gold. It has the largest undeveloped PGM resource in the world (Total 123M oz reserves/resources).
The downside is that the properties are located in Zimbabwe.
Home: www.zimplats.com (under renovation)
Other: www.mining-investor.com/Companies/zimplats.html
The company has acquired 100% of the Hartley Platinum Mines, which was developed at a cost of US $585 million.
africanews.org
207.254.27.219
Shares: 88.3M
PGM resources: 121M oz
Reserves per share: 1.4 oz
Share price: A$0.75
Price/reserve: A$0.53/oz
This is very exciting, but very riskyccany thoughts?
B. SUF.TO
C. Aquarius Platinum
III. Specific Companies with Speculative Underpinnings
A. Anooraq Resources ARQ.V
This company with the rather strange name is another of the
Hunter Dickinson stable of companies, which includes
the likes of Great Basin Gold and Farallon, among others.
They "have" important platinum and palladium property
in the Bushveld Complex of South Africa. The italics for
have is because they are in the process of acquiring it
as per an agreement dated October 15, 1999 from Pinnacle
Resources. The whole region is extremely prospective
for PGE metals, and their 10 km long property "is
contiguous with and extends north of Amplats' Platreef
Property, hosting nine known deposits with combined resources of 44+ million ounces of PGE's and gold."
A previous drill hole program encompassing 8 holes in within
one kilometer (just north of the Amplats boundary)
demonstrated significant intercepts and grades of PGE metals.
Data on this previous drill program is available at
the web site: www.hdgold.com/about anooraq.htm
B. IDO.V
1. Comments from Highly Experienced PGM Geologist
SEC filing says they have 1800' length of the JM
reef ...with pt,pd + minor ni,cu .Probably extends down dip a long way,
unless younger granitic intrusives cut it off, as they do at the extreme
eastern end.
A ballpark figure to 12,000' down dip could be 15-20 m. tons @ 5' width.
Could make a small mine at great expense. Economics would depend on a
forcast of pgm prices[no threat to ameliorating a pd shortage, Eric]
.They're negotiating an under writing of their stock, to carry out a
drill program....hopefully on the "reef" [if their claimes there are
valid and have been surveyed. If so they could pull some fine assays and
excitement, sooner or later.[I'm assuming SWC grades...o.5-.7
o.p.t.
pgms.
ICMC holdings elsewhere on the complex i.e. chrome bands and weak
olivine cumulate band, lightly mineralized with pgm, and // to the JM
reef seem unlikely to be economic IMO. Hard to envisage a heap leaching
process with pgms....aqua regia ?
2. Share Structure
Now to the share structure. Fully diluted, 32.1 million shares as of
Dec31/99, but only 15.2 million shares outstanding.
gold-icmc.com
C. SUF.TO
Compare SUF with PTX. Same Merensky and UG reefs present on both properties with comparable assays, very close to each other, same resource size except SUF is further advanced with a bankable feasibility study and is ready to close the deal and start construction at the end of this month. PTX has market cap of 120 million and SUF is 60 million, but as soon as the index funds stop selling (Feb18), and SUF releases the feasibility details and the deal closes(end of Feb), I bet that gap closes quickly with a quick double in SUF share price.
The resource at Messina is thought to be considerably larger than indicated at present, as the reefs are open in strike and dip. The Voorspoed and Doornvlei zones are the only ones included in the bankable feasibility study, but SUF estimates the resource could triple with exploration drilling between these zones and downdip and downstrike strike to east and west. The reefs in the adjacent zones are thought to be offset, from the zones above.
The reefs are steeply dipping, making mining much cheaper than in other areas of this complex. Visible chromite marks the reefs, so it will be cheaper to follow and mine with much less dilution than in other areas. The proximity to the Klipspringer mine means overhead costs can be spread between the two mines. A trained workforce already exists.
The shareprice of SUF has been pummeled by selling of index funds and angst ridden shareholders. It is due for a big rebound to reflect the underlying value for Klipspringer and Marsfontein cashflow. Camafuca will be partnered out in a separate company. The company has cleaned up many of it's problems that have dogged it for the last year, and the announcement of Messina getting the green light, together with Klipspringer value per tonne creeping up as undiluted stoping ore is processed should push the share price back up to the respectable levels it had early last year ($6to $10) by the next AGM in May. Should get a nice push as we get ready for the PDAC. If so, the beer there will taste very good.
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