<No, you add the Zn/Pb to get rock value, their AgEq is only Ag+Au ... look how close to surface it starts, and no pueblos to move either, nobody lives within miles >
Would hep if CC commented my comments are well. LOL.
GOZ another puzzle. Both Glen and Robert have been at the mine in Sweden. I think we are close to news. This guy likes GOZ a lot be good if he is even close to the mark:
JUNE 27, 2008
2009 PROJECTED 10X CASH FLOW PRICE MULTIPLE TO CURRENT PRICE
1) Metanor..................5.4
2) Gold-Ore................4.2
3) Alexis Minerals.......3.9
4) Timmins Gold........3.4
5) Gold Resource.......2.9
6) MDN Inc.................2.2
7) ATW Ventures........2.2
8) Jaguar Mining.......1.8
9) Minefinders............1.6
10) Capital Gold..........1.6
11) Western GoldField..1.5
12) Jinshan Gold..........1.5
13) Apollo Gold.............1.5
14) Alamos Gold...........1.4
15) Aurizon Mines.........1.1
16) San Gold.................1.0
Tuesday, June 17, 2008
Gold-Ore Has New Drill Results at Bjorkdal
Gold-Ore Resources remains one of my favorite emerging junior gold producers.
Like many juniors, the share price is being held back by the liquidation of holdings by a major shareholder needing to raise capital. Kinbauri Gold went through this for a few weeks and once the selling was finished, the share price rallied from the $0.70s level to the mid-$0.90s per share. Of course, Kinbauri has settled in at $0.79 today so maybe the sellers are back!
On a brighter note, Gold-Ore issued a press release with outstanding drill results and updated production data.
Gold-Ore Announces Central Tunnel Drill Results - Bjorkdal, Sweden Evaluating Bulk Mining Methods
The quality of posts on emerging junior gold producers at the Stockhouse bulletin boards seems to have improved since I started the Gold Stock Strategist. I'm not sure there is a connection, but it is great to see more fundamental analysis on the boards. Today, Stockhouse's GOZ board has a great discussion of what the new release means and why Gold-Ore's share price should do very well by 3Q or 4Q of this year. Rather than me repeating much of what is posted, I recommend you read today's posts at the Stockhouse GOZ board.
Stockhouse Gold-Ore Bulletin Board--June 17, 2008.
Best,
Gold Stock Strategist
Posted by goldstockstrategist at 6:55 PM 0 comments Links to this post
Labels: Gold-Ore Resources
Saturday, May 17, 2008
Gold-Ore Acquires 90% of Nearby Norrliden Mine
Gold-Ore Resources announced an agreement this week to purchase a 90% interest in a near-term production, poly-metallic deposit (650 hectares) in Norrliden 45 kilometers from the Bjorkdal mine.
Gold-Ore is paying three million shares for the 90% interest in Norrliden. Gold-Ore will also be the operator of the mine. Upon a decision to go into production--which seems likely to happen quickly--Gold-Ore will pay C$2.5 million and issue C$2.0 million worth of Gold-Ore shares.
The remaining 10% ownership is by IGE Nordic, a Stockholm-based public company with a well-funded exploration company with additional polymetallic prospects in Norway and Sweden.
I like this deal for four reasons.
First, it provides large and measured resources that can be brought to production very quickly due to 63,000 available ore and existing infrastructure. Bulk sampling will commence this summer.
Second, it establishes a partnership that Gold-Ore can build on for future projects in Sweden.
Third, Gold-Ore is the operator retaining control over setting milestones and operations.
Fourth, this is a very significant resource. By my calculation, this resource include measured and indicated 3 million ounces of gold, 240 million ounces of silver not to mention large zinc and copper offsets to the cost of production.
The buy-in for this seems reasonable given what is already known and the potential of the Norrliden resource. IMHO, Gold-Ore management has added value for existing shareholders.
Best,
Gold Stock Strategist
==============================
Full disclosure: I own shares in Gold-Ore Resources. The information provided in this post is believed to be correct, but not guaranteed. Investing in junior gold miners entails risks. Readers are responsible for their own investment decisions. Do your own due diligence.
Posted by goldstockstrategist at 12:05 PM 0 comments Links to this post
Labels: Gold-Ore Resources
Wednesday, May 7, 2008
Gold-Ore Reports Q108 Results!
Yesterday, Gold-Ore Resources issued a press release announcing their Q108 operational results.
Despite the confusing accounting in the financial report, there is a lot of good news in the release. I say confusing because:
1) The first quarter includes December 2007, and January and February of 2008.
2) The results reflect 1 month (December 2007) as the “operator” of the Bjorkdal gold mine and 2 months as the “owner.”
3) They did not book revenues on the income statement, but under Investing Activities on the statement of consolidated cash flows. My understanding is they could have booked revenues on the income statement, but for some reason will be waiting to account for gold sales in this way until they receive a feasibility study later in the year.
See press release.
In short, until the feasibility study is released and says that the gold is recoverable, Gold-Ore is not officially a producer. This technical detail is similar in effect to Metanor not being officially in production despite reports of a first pour because the first pour was based on “bulk samples.” (need that new 43-101 resource and rating of full commercial production)
All the accounting confusion aside, there is a lot of great news in the Gold-Ore release and Q108 financial report.
1) As of the first of this year, Gold-Ore owns 100% of the Bjorkdal Gold Mine,
2) Gold-Ore processed 198,417 tonnes of ore, averaged 3,307 tonnes per day, recovered 4,038 ounces of gold, and sold 4,318 ounces of gold including gold from inventory. They had an average processing recovery of 87 percent.
3) Gold-Ore’s goal is to source 1,500 tonnes/day from underground, and to have sustained processing of 3,400 tonnes/day at Bjorkdal. They are very close to that goal.
4) Gold-Ore has successfully increased production during February 2008 to an annualized rate of 24,700 ounces of gold. Their goal is to eventually increase annual gold production to 70,000 ounces by the end of 2008 as they process higher grade ore over time.
5) April gold production is estimated at 2,350 ounces.
6) Gold-Ore had accounts receivable of $1,734,797 in Q108.
7) Gold Ore is cash flow positive, realizing $400,291 in free cash flow for Q108.
Moreover, significant Gold-Ore exploration and development was also advanced during Q108.
Gold-Ore remains the most undervalued of all the emerging junior gold producers according to my financial metrics. There is still a way to go before investors realize the deep value in Gold-Ore. I expect this to happen by the end of this year when they hopefully report revenues on the income statement.
Best,
Gold Stock Strategist
goldstockstrategist.com
I added SGR yesterday too. So have more than two stocks. |
