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AMG - Ausmex Mining Group

Discussion in 'Stocks 0-H' started by System, Mar 6, 2012.

  1. System

    System Administrator

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    Eumeralla Resources Limited was incorporated on 19 January 2011 for the primary purpose of acquiring and exploring mining projects in Mongolia with the aim of discovering commercially significant minerals deposits.

    Through its wholly owned Singaporean subsidiary, Eumeralla Resources Pte Ltd, Eumeralla Resources acquired all of the issued capital in Centreville LLC. Centreville is a Mongolian incorporated company and holds a granted minerals exploration licence located in Mongolia.

    The License covers an area of 12,657 hectares and encompasses the historical Chuluun Khoroot tungsten mine which was active during the period 1945-1955. The License area is located in north-eastern Mongolia approximately 20 km north of the town of Dashbalbar, 850 km north-east of Ulaanbaatar and 85 km north ¬west of the Solowevsk-Choibalsan railway.

    The Company's initial metal focus will be on tungsten, although other commodities may be targeted in the future.

    http://www.eumerallaresources.com

    Eumeralla Resources (EUM) is expected to list on the ASX on Friday, March 9, 2012.
     
  2. System

    System Administrator

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    On May 15th, 2017, Eumeralla Resources Limited (EUM) changed its name and ASX code to Ausmex Mining Group Limited (AMG).
     
  3. Anastasia

    Anastasia

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    An announcement came out early this week updating the progress of Ausmex in their exploration work in Cloncurry, an extract of the announcement in which I'm attaching below. With copper and gold prices on the way up, it's looking like a real little gem of a find, especially when one also takes into consideration the South Australian tenements they also hold and the JV recently announced with PNX for further tenements that include the Burra, Princess Royale, and Mongalata Mines.

    As always DYOR.

    Promising start with two new gold mineralised gold systems identified on EPM14163, with assay grades of up to 79.8 g/t gold produced from random rock chip sampling.

    One of the two potential Gold systems was identified south of the historical King Brown Gold/Copper prospect and traced for over 700m to date to the east, striking towards the Mt Freda Gold Project. Random rock chip samples, were taken from four above ground quartz breccia outcrops along the possible strike length. All samples were assayed for Gold via SGS Laboratories in Townsville, with samples returning high grade gold assays up to 79.80g/t Au. (Refer Image 2 below for sample locations & Table 1 for individual sample grades)

    This prospect has been marked as a priority for follow-up work exploration work. Now that the system has been identified, a detailed low impact exploration program will be undertaken with results to form the basis for an exploration drill program.

    The second gold system was identified at the historical Carpet mine. The mineralised structure was traced and assayed along ~ 1,000 meters, striking North/South with grades up to 23.4 g/t Au and 11.6% Cu. (Refer ASX announcement 27/07/2017 for high grade copper grades).

    Further exploration is continuing, but restricted at present to low impact exploration until statutory “Cultural Heritage Clearance” is completed. Low impact exploration does not include drilling. The company expects the cultural heritage clearance to be completed by late August. Currently the field geological teams are continuing with low impact mineral exploration. (For all results see below)

    In addition to the two new visually and possibly continuous gold systems identified, field exploration is underway on numerous historical Gold/Copper prospects encompassed by EPM14163. Further rock chip samples from these prospects, are currently at SGS Laboratories on Townsville awaiting assay analysis.
     
  4. Anastasia

    Anastasia

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    This is the other half of the above posting - the JV with PNX.
     

    Attached Files:

  5. greggles

    greggles I'll be back!

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    Some good results for Ausmex Mining mining today.

    That's the highlights anyway. The details can be found in the announcement for those interested. The market reacted positively to the announcement and at the moment the share price is up 26.15% to 8.2c. It did go as high as 12c earlier today, so it has retraced quite a bit from the intraday highs.
     
  6. Anastasia

    Anastasia

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    It will be interesting to see what happens on Monday as a result off the TH. A good announcement hopefully!
     
  7. barney

    barney

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    Nice Drill results from AMG …….. Market likes it … currently up 90%. Looks tightly held and Volume only modest … Watchlist for now until the dust settles
     
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  8. Anastasia

    Anastasia

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    Another great announcement out today. Love that all that gold and cobalt is very mineable and so close to the surface. Incredible to believe that it’s all just been sitting there all this time. A great week for Ausmex. Add these results found in Cloncurry to what’s recently been announced in Burra and Ausmex is way undervalued in SP.
     
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  9. barney

    barney

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    It looks promising …

    If the recent 153m @ 1.02% Cu drill results are replicated it could be turn into a large deposit, plus yesterdays Gold results also look good.

    Still only $12 million market cap with $2 million in the bank …

    Currently in consolidation after price spike ….. should run again you'd think
     
  10. barney

    barney

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    In at 0.046 cents ….. If the recent news was accurate the share price should appreciate after consolidation ….

    There will be a few punters who got caught buying at the top of the recent spike so a little tree shaking would be normal. See how it pans out next week.


    AMG 31st August 2018.jpg
     
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  11. Anastasia

    Anastasia

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    I totally agree with you Barney - if not next week then in the not too distance future (some ‘questionable’ trading happens every time there’s a good announcement knocking the price back down).



    The Golden Mile didn’t get its name because of no mineralogy and the Ausmex tenements are right in there. And when you take into account what they have found in Burra in conjunction with the University of Adelaide (who have no reason to ramp results up for financial gain I might add), then Ausmex is where I want my investment dollars.



    As I said before, I’ve followed Matt (MD) and Geoff (Director) for many years and they are true mine builders, not fly-by-nighters in for a quick dollar.
    I bought in originally at .072c but I’m not crying (although it would have been nice at .042), as I believe that very soon Ausmex’s worth will be realised and even at .072 will show a very nice profit.
    DYOR
     
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  12. barney

    barney

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    Very interesting announcement yesterday with Newcrest drilling a Teir 1 target next door. Could get interesting if they strike something substantial.


    27 September 2018

    ASX RELEASE Newcrest Mining Limited drilling Tier 1 IOCG Target – 30% of the target is within AMG controlled leases.

    Ausmex controlled Mt Freda Complex contains approximately 30% of a massive IOCG geophysical and geochemical prospect previously identified by Exco Resources Ltd in 2012.

    Newcrest Mining Limited (ASX: NCR) commenced farm in drilling on the Tier 1 “Canteen” IOCG target approximately 800m south of the Mt Freda Complex, with the anomaly extending into the Ausmex controlled Mt Freda Complex. 

    Mt Freda Complex hosts a large mineralised system that has the scale to host a massive Tier 1 IOCG prospect hosting shallow Au, Cu, Co and Rare Earth Elements.
     
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  13. barney

    barney

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    I was going to pick AMG in the Comp picking this month …. The 9% rise today takes a bit of meat out of any rise that might eventuate, but I might still take it if no else has.

    Both the Buy and Sell sides are seriously thin on this at the moment so very little can be assessed from the current price action but given Newcrest are drilling next door and have a high opinion of the area, anything could happen over the next month or two.

    Have a reasonable holding in this now so my hip pocket has a vested interest in any results … hopefully it will perform better than a few of my other recent picks:mad::D ……
     
  14. Anastasia

    Anastasia

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    It’s incredible what the Ausmex announcements (in addition now to Newcrest) are saying and yet the SP remains so undervalued. I can understand that shareholders want something more than rock chips sample and survey results before investing. It’s always “do some drilling, give us good results, give us proof that you’re not just talk”. And usually good quality core results will do this...increase the SP.

    Well Ausmex have sunk quite a few drill holes now in Cloncurry with several excellent mineral percentage results announced. And now we discover that Newcrest is next door with a tier 1 “Canteen” IOCG of which Ausmex have a 1/3 claim to and the price hardly moves up. I’m so not understanding this movement. It is so undervalued.
     
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  15. barney

    barney

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    Agree @Anastasia … It does look potentially undervalued …

    The market is pretty touchy on Specs so a bit more credibility may need to be earned before any serious SP movement

    I note you mention you have been following some of the management for a while and have a good opinion of them … Any general info you are able to share? Cheers.
     
  16. Anastasia

    Anastasia

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    Barney, I would be only too happy to pass on what I know. But let me say that while I am of course liking what we are all seeing at Cloncurry, I am actually as keen, if not more-so, on what AMG are chasing around Burra, SA. I love the application of new technology to explore this area.
    Some time ago I researched what AMG have been doing and just who is running AMG’s Burra project and I was pleased to find out that it is their Director, Geoff Kidd, with Nicole Gallaway-Worland as the Project Manager – Burra Region. I did well out of CWK where Geoff Kidd was their COO where he constructed the technical case that forced or encouraged WHC to make their takeover offer. I knew of Geoff when he was Project Manager and Engineering Manager for a couple of mine developments for White Industries and White Mining, then as Project Director for the design group who built the process facility for Goldfields at Henty, and have followed him for many years concluding with my success at CWK. From my detailed checking it is clear to me that Geoff builds mines and processing facilities below budget and they all work.
    Now I was unaware of Nicole Galloway-Worland previously but a google search revealed she equally has a well-respected strong technical reputation in SA. She has strong Copper/Gold background from Mt Isa and elsewhere and I highlight that she is now the Competent Person for Burra. I think that the Burra project couldn’t be in better hands with Geoff & Nicole running it especially with the inclusion of Prof. Heinson and UoA to run the MT investigation.
    I can see indications of the same thing in the way that Cloncurry has been assembled and tactically progressed to date. I first came across Matt Morgan when he was Exploration Manager at CWK, then Exploration Director at Gold Mountain and I did well out of both companies. I think that one of the great things about AMG is that the core Directors have proven to have worked together successfully in the past and their skills are totally complementary, proven to be without personality issues and with demonstrated expertise that leads to mines being built and operated.
    I see the twofold approach at both Cloncurry and Burra to be a major advantage for the company and I love the story that is developing. I’m staying in AMG and I reckon it will be an interesting and hopefully very rewarding ride.
     
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  17. barney

    barney

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  18. Anastasia

    Anastasia

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    Apologies if I sound like a bit of a a ‘groupie’ but it’s so reassuring and confidence building when I have so much experience and history in a team not to rave on.
     
  19. Anastasia

    Anastasia

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    Todays announcement is very exciting especially considering it’s from an area that they didn’t expect to find anything substantial and with 86% of MT results to still come in with known mineralogy. But definitely need to now get a JV with one of the big companies as this is way to big for a junior company. But what a lovely position to be in as a company and shareholder.
     
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  20. Knobby22

    Knobby22 Mmmmmm 2nd breakfast

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    Yes, my interest is now piqued Anastasia.
    There was a lot of prospecting in that region in the past so it is a bit amazing if they have missed a major deposit, no doubt due to its depth and not having the tools of today.
     
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