Ja, im Schmuddelthread hat Lupo gewarnt:
"Im Busch von OZ rieche ich bei GLN ein Mordstrumm von Scheisshaufen."
[Blockierte Grafik: http://www.cra.org/Activities/craw/cdmp/awards/2006/Dinculescu/MonicaDinculescu_website/emu.jpg]
Rumhacken auf M.Siegel rumhacken, nein, die Kommentare lese ich häufig. Staune nur, daß er seine detailierten Kenntnisse der Aussieexplorer nicht in einer überdurchschnittlichen Fondsperformance umsetzen kann. Zumindest ist GLN keine Topposition im Fonds.
Gerade im w:o Thread gestöbert.
GLN war wohl auch ne Empfehlung vom Kulmbacher "Der Aktionär". 
Dann fährst halt weiter Dein Zündapp Mokick, schließlich hast Du noch andere Granaten im Köcher.
Ist das wieder ne Siegel Empfehlung gewesen? Denn der Lupo war da auch drin und dessen Stocks decken sich häufig mit M.S.
Die Siegel Besprechung von GLN vom 31.08.06:
...
Wir nehmen Gleneagle als Kaufposition in unser Goldproduzentendepot auf. Nach dem erfolgreichen Produktionsbeginn erhöhen wir unser maximales Kauflimit von 0,30 auf 0,40 A$ und unser Kursziel von 1,30 auf 1,40 A$ und stellen Gleneagle erneut zum Kauf.
Empfehlung: Halten, unter 0,40 A$ kaufen, aktueller Kurs 0,38 A$, Kursziel 1,40 A$. 
Vielleicht sollte ich auch noch mal über die Zukunft von Westonia intensiv nachdenken, bevor deren Grube wieder mit Wasser volläuft.
Eine von Gogh´s Tretminen schon hochgegangen!
Gleneagle Gold calls in administrators
http://www.wabusinessnews.com.…d-calls-in-administrators
Who´s next?
HIG?
Nach langer Totenstarre rührt sich wieder etwas.
Wird nun von Raymond James empfohlen.
INCA PACIFIC RESOURCES INC. (IPR-V, $1.40)
We are initiating coverage of Inca Pacific Resources Inc. with a STRONG BUY rating and a 6-12 month target price of C$2.25 per share. Inca Pacific's primary asset is its 100%-owned Magistral copper-moly project in Peru. The project is slated to be in production by 2010. The reasons to buy Inca Pacific shares at this time include:
* Valuation: Inca Pacific trades at a low P/NAV of 0.25 times versus the peer group of development companies at 0.85 times;
* Molybdenum: Inca Pacific is an inexpensive way to gain exposure to positive molybdenum fundamentals given that at current pricing, 40% of future net revenue is derived from moly;
* Low technical risk: The project exhibits simple metallurgy resulting in "high" metal recoveries and modest capital costs; and finally
* Acquisition candidate: In our view, low cash costs and quick timeline to production would make Inca Pacific an attractive take-out candidate.
Rating and target price - We estimate the shares to be worth C$2.25 per share, which is based on a 0.40 times multiple applied to our NAV estimate of C$5.54 per share. The company's 100%-owned Magistral Cu-Mo project is expected to produce 30,300 tonnes of copper in concentrate per year at a cash cost of US$0.50/lb including the 2,400 tonnes per year of moly by-product. We assume a long-term copper and molybdenum price of US$1.50/lb and US$8.00/lb, respectively, in our analysis. Pre-feasibility, pre-financed projects typically trade between 0.30 and 0.50 times NAV.
* Capital costs modest - upside to valuation - We estimate a capital cost of US$292 million, which compares to the pre-feasibility estimate of US$265 million and estimate an IRR of 19.0% for the project. Upside exists to the share valuation assuming the company can successfully convert more of the resource into reserve category and extend the mine life beyond 16 years. We have conservatively assumed a 20-year mine life in our analysis.
* Low share valuation not likely to last for long - We believe the discount on the shares mainly reflects the market's lack of familiarity with the asset, the low market cap and low share liquidity. In our view, the project would fit well with a number of small/mid-cap copper producers looking to increase copper and molybdenum exposure at a relatively modest capital cost. Given the paucity of advanced-stage small-scale projects, we ultimately see the company as an acquisition target and therefore view our C$2.25 per share target price as conservative.
Refer to the full report for details. (http://www.incapacific.com/i/pdf/IPR_050507.pdf)
Inca Pacific und Candente hangeln sich nach oben:
ANGOLA - LACAGE KIMBERLITELICENSE FINALLY APPROVED
International Gold Exploration IGE AB (IGE)
announces that the first licence for primary
diamonddeposits earlier signed by IGE and ENDIAMA -
the state owned diamond company of Angola - has
officially been ratified and granted by the
council of ministers of the Angolan government.
IGE has a 43 % ownership of the contract for
primary diamond deposits and is responsible for
operations and financing which includes management
and production. ENDIAMA has a 51 % ownership and
two local Angolan companies have the remaining
parts.
The Lacage concession area, which covers 3 000
km2, is located in east-central Angola in the western
part of the province of Moxico.
Regional geological data indicate that the Lacage
concession area is located within geologically
potential ground to host kimberlites. Original
reports from early 1970`s of diamond exploration
surveys by Diamang and Condiama (Portuguese -
Angolan colonial companies), show that alluvial
diamonds and diamond indicator minerals have been
retrieved in streams draining the concession area
both to the east and northwest. Several positive
finds of diamonds are noted in these reports in
alluvial beds of drainage systems belonging to the
upper Luio River and the Lungué-Bungo River, both
of which have their headwaters within the
concession area.
The reported early findings of diamonds in the
large sediment beds of these rivers and streams are
indicating the presence of alluvial diamond
deposits and locally associated primary kimberlite
sources within the Lacage concession area. The
potential of locally located diamond deposits in
the Lacage area is further strengthened in recent
times by reported diamond finds by artisanal
miners along some of these rivers. Finds of some
extraordinary large size diamonds from the region
have been reported.
Advanced satellite picture interpretations
indicate over 90 geological signatures that potentially
could be kimberlites. Airborne geophysical surveys will
start in May 2007 using the airport at Luena as the
base of operations.
Nach einem Hotcopper-User kommen BTV-Junkies jedoch nicht in den Himmel, sondern ins Schlachthaus:
What makes you say it's one of the best buys?
Everyone who has invested in BTV over the long-term has suffered. I suspect a couple of the most enthusiastic posters on this thread may have lost hundreds of thousands of dollars. The ecomnomics of the project were marginal, and BTV can only 'hope' to upgrade from here.
Misleading readers by saying 'one of the best buys' is just wrong. To anyone thinking of buying, have a very thorough look at management, and the way investors were led to the slaughterhouse last time. And the time before that. And the time before that.
The Deflector project in fact has a history of breaking companies. Ever heard of Menzies? Maybe not. They went broke at Deflector.
For more evidence regarding the incompetance of management, look to the spin out of THOR. A horrible move, as keeping those tenements would have seen BTV SP far above it's current levels.
There MAY (only possibly) be potential if they can drag Deflector through to being economic, but it's a long-shot thats been tried before. Even if this unlikely event comes to pass, is it worth the risk? There are plently of promising gold plays with greater potential return and significantly less risk.
There is NOTHING about this company - or thier tenements or management - that warrant calling it even one of the best 50% of plays on the ASX.
It's not fair to mislead people like that - the posters on this thread have done it before, and people should be warned they are doing it again.
IAU: Dicke Eier vom Osterhasen? Fehlanzeige!
Where to now for Thor after Chinese snub?
http://www.theaustralian.news.…,21631083-5005200,00.html
Stellar run continues for Kambalda nickel miners
Nickel miners and explorers, reviving the Kambalda area projects, are reporting good results due to strong metal prices.
Author: Ross Louthean
Posted: Wednesday , 25 Apr 2007
PERTH -
Western Australia's Mincor Resources NL's March quarter report today reflected the same level of buoyancy as fellow Kambalda region nickel miner Independence Group NL showed yesterday when it reported a record three months' net profit after taxation of $A41.7 million ($US34.44 M).
The Mincor report not only detailed a strong operating surplus of $A36.7 M ($US30.31 M), despite reduced production, but also a bold new hedging programme for a total of 4,026 tonnes of payable nickel metal to April 2009 at an average price of $A24,242/t ($US20,023/t). This represents less than 27% of Mincor's expanded production over that period.
It is also a price that would have made any nickel mine manager in the Kambalda region over the past 30 years green with envy, given that they were often saddled with a flat nickel price below $US2/lb.
Mincor's share price warmed to the news, as did Indepencence's price yesterday that rose $A0.70 the previous day to $A6.80/share ($US5.61/share), though it softened A14¢ at the close of trade today through a high turnover.
....
Mincor said today its current cash and receivables net of creditors and accruals, stands at $A107.4 M ($US88.7 M) with no debt. Its March quarter result took in an additional $A20 M ($US16.5 M) revenue recognised for the December quarter, based on final nickel settlement prices.
The nickel price has been good to Australian nickel miners in the March quarter rising to record levels
...
http://www.mineweb.com/mineweb…age36?oid=20042&sn=Detail
Mincors 1.Q07
- starkes Ergebnis trotz gefallener Produktion
- neue Hedges für über 20.000 USD/t ( über 9 USD/lb) bis April 2009, Hedges machen insgesamt 27% der Produktion aus.
- Nettocashposition: satte 88 Mio USD bei 0 Schulden
"Warum denn so giftig?"
Auch die Aussies waren giftig: - 20,5%
LONDON (Thomson Financial) - Thor Mining PLC said China's Hunan Nonferrous Metals Holding Group Co Ltd has terminated an agreement regarding the company's molyhil tungsten-molybdenum project in Australia, a month after the two companies entered into a memorandum of understanding.
Hunan gave no indication of the reasons for its actions.
On April 17, the companies agreed to postpone the date to conclude due diligence to April 30, and the date for completion of commercial negotiations to May 11.
Thor said it will immediately accelerate discussions with several other parties on the project and expects a fresh series of due diligence to commence shortly.
Elkspotter haben IGE in Kenia ( Gold ), Burundi ( Vanadium ) und Angola (Diamanten ) gesichtet. Aber Geduld ist gefragt.
Analyse von Sundal Collier
International Gold Exploration
Sweden, Gold
IGE.OL (REUTERS) - http://www.ige.se – IGE NO (BLOOMBERG)
Share price: NOK 3.44 Market Cap (m): NOK 1,073
Target price: NOK 8.0 Daily traded shares, -3m (k): 5,306
Patience will pay off
Recommendation: BUY
IGE’s shares have been in a downward trend since the beginning of October 2006. The stock has reacted positively to good news, but has not managed to sustain this and fallen back shortly thereafter. We believe that there are several factors that will change this trend going forward, and recommend BUYING IGE now as we believe the company will enter into a very interesting period going forward, with both restructuring and several new concessions in high potential areas to be won.
· IGE has announced that it will organise its operations in three separate subsidiaries: IGE Nordic, IGE Diamonds and IGE Africa. Given this and the fact that IGE has also decided to develop its own concessions through exploration and into production, we believe that the company will continue to strengthen its management team by hiring executives with experience from building and operating mines.
· We believe that the three subsidiaries will be separately listed. This will increase the visibility in valuation in addition to having three more uniform investment profiles, and attract investors who are not interested in the diversified portfolio of projects, but would like a more pure play towards any of the three divisions.
· We believe that there are several very interesting new concessions in the pipeline, the most important includes:
We expect the kimberlite part of the first diamond concession (3,000sqkm in the Moxico province) in Angola to be ratified in the next Ministers’ meeting. Our contacts in Angola have said that this meeting could potentially take place on Wednesday or Friday this week. Be aware that these meetings have had a tendency to be cancelled at the last moment. IGE will be spending the next few months carrying out aeromagnetic surveys over this (and potentially more) concessions.
We expect IGE to be able to announce more diamond concessions in Angola shortly after the first concession is confirmed by the government. We believe that it is very likely that these potential concessions will be of the same size as IGE’s first concession (3,000sqkm). Our early estimates of the risk adjusted DCF indicate that each concession of 3,000sqkm could have a potential value of between NOK 3 and 7 NOK per share.
This week IGE has received visitors from Burundi’s government in Sweden. IGE has already received one gold and one vanadium concession in Burundi. The pre-feasibility study is ongoing and being developed by SRK Consulting. We expect IGE to receive at least one more concession in the country, and that could even happen this week as the Burundi officials are in Sweden. Burundi has several attractive concessions, including several large nickel resources with proven reserves between 29 and 46 million tonnes with a nickel grade around 1.4% (probably not 43-101 compliant). The largest resource is 180 million tonnes, which makes it one of the largest undeveloped nickel resources in the world. In comparison, Crew Mineral’s resource is 207 million tonnes with a nickel grade of 0.94%. There are also other interesting concessions in the country including more gold and also rare earth minerals (REE) to mention but a few.
Management has also focused on getting concessions that could yield cash flow within 6 to 12 months from acquisition/acceptance. This could be done during Q2.
On March 29 IGE announced that it updated its resource statement at Stekenjokk to be compliant with the 43-101 and JORC standard. Stekenjokk is a marginal Zinc and Copper field that has been produced by Boliden from 1976 to 1988. It was closed due to the low base metal prices at the time. In our DCF models we use a Copper price of 3,256 USD/tonne and Zinc of 1.678 USD/tonne from 2009, which is the first year that IGE could potentially secure its metal prices for future production. With these price assumptions and assuming investment costs of SEK 550m, 700,000 tonnes of yearly ore production, 10 year mine life, cash cost of SEK 350 per tonne, 100% debt financing at 8% interest costs and a discount rate of 12%, we get a zero NPV for this project. The NPV increases to NOK 2.8 per share if, on the other hand, we use today’s spot prices for Copper and Zinc, which are 7,807 and 3,710 respectively, so this project could turn out to be very interesting if we see continued strong base metal long-term.
IGE received a vanadium concession from Burundi in November last year. We have valued the concession at NOK 1.4 per share. See IGE presentation at http://www.abgsc.com dated November 22, 2006, for more information.
IGE has received verbal confirmation that it has received exclusivity to an area of 100,000sqkm(!) in the Moxico region which is in south west in Angola. External consultants have so far identified more than 200 potential kimberlite anomalies in this area, which equates to the size of one-third of Norway. We are however waiting for a written agreement with Endiama before we give this agreement any value.
Insiders have increased their stake in the company lately:
Ulrik Jansson (Chairman) bought 1.5 million shares on December 11, 2006 at an average price of 4.315 per share. His direct interest in IGE is 14.865 million shares (4.8%).
Danke Edelman,
dachte schon nachträglich, ich hätte Siegel unrecht getan, da in der Periode der Goldpreis vielleicht gefallen sei. Sein Fonds war zumindest besser als der Fondsdurchschnitt.
Aber Deine Zahlen zeigen, daß im letzten Jahr der Goldpreis durchaus gestiegen ist.
Hier noch die 10 Toppositionen zum 31.3.07
SALLY MALAY MIN. 8,96%
MINCOR RESOURCE. 8,35
KINGSGATE CONSO. 7,32
PERILYA LTD 6,30
ST BARBARA LTD 5,97
GOLD FIELDS LTD 4,67
TRIBUNE RESOURC. 4,27
SILVER WHEATON . 4,09
HARMONY GOLD MI. 3,85
AGNICO-EAGLE MI. 3,81
Silly Sally dürfte zumindest seine Managementgebühr verdient haben.
Der PEHQ im Handelsblattvergleich auf dem 7. Platz.
Rang 7 PEHQ 1-Monat -4,06% 1-Jahr +0,69% 3-Jahre p.a. 4,74%
( Craton übrigens auf dem 4. Platz mit jeweils besserer Performance in allen Zeitabschnitten )
Mit der 1-Jahresperformance von 0,69% ist er dicht hinter der Rendite meines Sparheftlis. Aber Hallo!.
>>Anders als das Konwave-Duo, das rund zehn Prozent des Portfolios außerhalb des Goldsektors hält, war Siegel während der vergangenen Monate mit rund 30 Prozent des Fondsvermögens in Zink- und Nickelwerten wie Sally Malay und Perilya investiert.
„Diese Positionen sollen nun aber schrittweise in Goldaktien umgeschichtet werden“, erläutert Siegel, dessen Fonds oft zwischen einer oberen und unteren Tabellenposition pendelte. Wegen der großen Schwankungen in der Wertentwicklung beurteilt Dietmar Herbach den Fonds eher skeptisch.<<
Jahresbilanz der Goldfonds enttäuscht die Anleger
http://www.handelsblatt.com/ne…taeuscht-die-anleger.html
Wie sähe wohl die Entwicklung ohne die 30% in den Buntmetallen aus? 
Tach Gogh,
ganz nett die Ressourcenerhöhung von 1,4 Mio Uz im August auf nun über 2,1 Muz. Allerdings hauptsächlich im inferred Bereich.
Auf die Ergebnisse der Jessieader mit ihren 20/40 g/t Gold und mehreren Hundert g/t Silber müssen weitere 5-8 Monate warten.
IGE immer noch im Keller
Crewpartner NIS im Tradinghalt (Uranexplorationen geplant?).
Das Quartal war kein Ruhmesblatt, auch wenn sie nur seit Mitte Feb. produzieren können.
449 t Kupfer, 1462t Zink, 1276 Uz Gold.
Das war natürlich unzureichend, um die Hedgelieferverpflichtungen von 1575t Kupfer zu erfüllen.
Das Hedgebuch wird unter Verlusten abgebaut, sieht aber immer noch übel aus:
12850t Ku zu 0,85$/lb [Blockierte Grafik: http://www.smiliemania.de/smilie132/00000285.gif]
Hedgebuch über 137 Mio US$ aus dem Geld.
Hoffen wir, daß sie in diesem Quartal ihre Produktion vervielfachen können.
Der IAU-Anteil von Sedimentary wurde von AuSelect schon im August letzten Jahres durch die Übernahme von Sedimentary erworben.
Jetzt die Meldung wegen der Verschmelzung von AuSelect mit dem Löwen, Sedimentary hält als Tochterunternehmen weiterhin die IAU-Shares.
Mit einem Wort: Nix Neues unter der Sonne.
Recht nett, die neueste Paterson Studie auf MCR´s Webseite.
WA´s cheapest nickel sulphide miner
http://www.mincor.com.au/images/mincor-47--jahgh.pdf
MCR:
MCR remains on track to produce 9kt of payable nickel for FY07 from its 4 producing mines and with the bolt on production of 1.4kt from Carnilya Hill and 0.3kt from North Dordie, we forecast FY08 to come in around 10.7kt from six operations. MCR has 33% (2,982t) of FY07, 22% (2,394t) of FY08 and 5% (600t) of FY09 production hedged.
SMY:
SMY´s payable production of 8.7kt for FY07, from Sally Malay and Lanfranchi, will increase to 11.3kt as the Winner and later Deacon orebodies are brought on line at the Lanfranchi operations. SMY has 53% (4,494t) of FY07 and 19% (2,100t) of FY08 production hedged and 100% of FY09 production is unhedged.
MCR is trading on 5.2 times FY07 and 3.5 times FY08 earnings 
als Chart, weil Bilder täuschen
Ulpfr
Dr. Clive Goofey:
According to my data DROOY is not just a long term ten bagger but also a potential long term twenty bagger. It remains a serious buy for all types of portfolios.
http://news.goldseek.com/GoldAction/1176670000.php
