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AMG - Ausmex Mining Group

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

  1. peter2

    peter2

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    I want that drill report to be announced before the end of Feb but that seems unlikely as the drilling takes time and the lab work more time. I might have to select it for the next month's comp. Don't you steal it first.

    Looking at the latest qrtly cash report, they haven't got much left. Probably only enough for this 850m drill. They'll need some good news before asking for more capital.

    I don't trade or gamble in this sort of company.
     
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  2. barney

    barney

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    Unfortunately ….. or fortunately:p …. I do:D …..

    You are correct Pete …. they don't have a lot of cash in the coffers so the current drilling could be pivotal.

    Management have done well in recent times to keep funding under control. Fortunately they aren't just a one trick pony so I think they will be able to raise more as long as the upcoming results show potential.

    Recent price action shows some dedication from longer term holders if I'm reading it correctly. This is generally a good sign, but we shall see how it all pans out when the dust settles.
     
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  3. barney

    barney

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    Below info taken from today's announcement ….

    SP currently up 25% on low Volume … I'm not complaining:)



    ASX RELEASE
    (abbreviated)

    Independent Expert Emeritus Professor Kenneth D Collerson (PhD., FAusIMM) has presented findings validating the significance of a large IOCG (Iron Ore Copper Gold) or ISCG (Iron Sulphide Copper Gold) mineral source below the Little Duke Gold Mine, located within the Ausmex controlled Mt Freda Complex

    Key Findings Include:

    ➢ data indicates that Little Duke.. is proximal to a deeper and fertile IOCG or ISCG mineral system.

    ➢ The Little Duke drilling data (LD18RC006) is highly significant, and it is recommended that diamond core drilling should continue

    ➢ Little Duke drill hole LD18RC006 combined Gold and Copper down hole mineralisation : (Refer ASX Release 29th November 2018) of 67 m @ 1.33 g/t Au and 0.47% Cu o Gold assays up to 8.00 g/t Gold, 1,100 ppm Cobalt and 1.43% Copper.

    ➢ Little Duke Drill Hole LD18RC006 was possibly drilled into the contact of a Tier 1 IOCG target that Ausmex shares with Newcrest Mining Limited (ASX:NCM) (Refer ASX 19th February 2019).
     
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  4. barney

    barney

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    More good grades in the Golden Mile drilling. Shaping up nicely for a decent deposit even discounting the potential IOCG with Newcrest.
     
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  5. barney

    barney

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    Currently in Trading Halt pending Results …..

    They only started the latest round of drilling the other day so for them to have results worth a trading halt means it will be an upbeat announcement:)

    Market Cap still under $20 million but more cash required soon so good results followed by a cap raise looks a possibility.

    The 5klm grid based survey over the old Burra Mine area looks very interesting. Proven mineralised area but now being surveyed with modern techniques could open up a big can of friendly worms:wideyed::D ... holding tight at the moment.
     
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  6. peter2

    peter2

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    They've found gold. I notice that NCM are interested in the results also. Hmm..
     
  7. barney

    barney

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    Yeah the Gold has been basically known about for a while but they continue to find more. Newcrest are digging on the same land next door and very tight lipped about what they have found. Speculation it could be a large IOCG copper/gold find.

    SP has raced up on the speculation … the 10 cent area is notoriously hard to break but liquidity has been thin …. interesting times.
     
  8. barney

    barney

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    The Price action was as it seemed … it seems:p …. posted on 17th Feb. The dust has stirred if anything but the SP has risen steadily.

    SP has been well traded today ….. Pushed up on Speculation …. Sellers around the 10 cent area as expected.

    Until the current drilling is reported on we are still skating on speculation regarding the potential of the IOCG tenements held in conjunction with Newcrest.

    The word on the street is Newcrest have drilled several very deep diamond drill holes but remain tight lipped.

    They also invited AMG boss Matt Morgan to a "discussion" regarding the jointly held tenements but security protocol could not be agreed on …. The plot thickens.

    Positive news from either NCM or AMG could see me eating scotch fillet next month ….. Average news and I'm back to corn flakes and toast:D

    Chart to follow.
     
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  9. barney

    barney

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    Just under 3 million shares traded today at around $282,000 so all in all its still under the radar of any day trading activity …. that's a plus given the recent rise.

    Late last year the Top 20 Shareholders owned around 70% of the Co. so I imagine that is still the case. That makes sense as to why it is fairly illiquid at the moment.

    Closed the day back at 10 cents so all in all … pretty positive if the upcoming news is good.

    I still hold … and still hope:D


    AMG12March2019.jpg
     
  10. debtfree

    debtfree

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    Nice pick guys :xyxthumbs I'm thinking about those Scotch Fillets @barney, what day was the barbie :rolleyes:
     
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  11. barney

    barney

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    Lol @debtfree …… It's moved quickly for sure ….. Could be the trade of a lifetime:cool: …. could end in tears!:eek:lol

    I'll let you know whether the BBQ is warmed up in a week or two after the drill results are announced;)

    At 50 cents I'll supply copious amounts of Scotch fillet for all and sundry …. at a Buck … I may be slightly intoxicated for a week or two!!:D
     
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  12. barney

    barney

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    Interview with Professor Ken Collerson regarding the potential of both Ausmex tenement areas.

    The Mt Freda area at Cloncurry where Newcrest are also drilling and the Burra area near the old Burra Monster mine in SA.

    At 7 minutes 24 sec into the interview he mentions the Platinum and Palladium levels found in widespread surface samples along the whole Golden Mile area as the highest he has ever seen. No wonder Newcest and RIO are sniffing around the area:cool:

    Another sharp rise in the SP so far today. If it holds up into the close the chart will start to look vertical which is generally a pre curser to a pullback. Supply looks to be coming in around the 16-16.5 cent area so far today …. there has to be some profit taking after such a run you'd think.

    Link to Interview below

    https://ausmexgroup.com.au/independ...significant-potential-of-cloncurry-and-burra/
     
  13. barney

    barney

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    And on queue the Profit taking came in as expected with the SP down 16% today.

    Everything is typical of Spec behaviour at this stage ….. The million dollar question is whether there is a large IOCG ore body to be found .... behind/under the recent speculation:cautious:

    Given the many and various "Pathfinder" Statements:D from respected Geologists … plus the Newcrest "interest" …. I'm happy to ride the roller coaster for a while longer;)

    The profit taking has been on "normal" Volume … so I expect the overall current trend to continue pending further news …… I doubt we are going to see a Sandfire or Cudeco price blitz … but there are many positive similarities at this early stage to give Shareholders good hope that there may be more than just gold in them there hills:D

    Holding and hoping as always:watching: ….. mashed potato tonight unfortunately … scotch fillet put back in the freezer:p
     
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