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EKM - Eleckra Mines (1 Viewer)

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Spotted a new gold float listing today, managed to get under my radar, but then not such a bad thing as market may ignore it giving opportunity to pick up stock @ or less than 20c IPO price,


Has 60m Shares fully dilluted,
$6m or 10c per share cash
and a JORC Gold Deposit of 12.6Mt @ 1.8g/t for 740,000 oz's Gold

@ an EV value of say $25/oz = $18.5m + $6m cash = A good asset value of around $24m = 40c per share,


Thoughts?

I know gold has falllen a bit from favour, but its so hard to find good JORC holding companies, AVO has a similar sized deposit and commands a mkt cap of $50m- $75m

Float opens soon,
 
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Got me 100,000 @ 20c :D

Sellers are gonna regret this selling,

@ 20c mkt cap = $12m fully diluted, removing the $6m of cash that allocates an EV of $6m to 740,000 oz's of gold or $8oz EV thats ridiculous!
 
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So what do you think the share price will be worth by the end of the month (July)??? 0.25c??? 0.30c???
 
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watsonc said:
So what do you think the share price will be worth by the end of the month (July)??? 0.25c??? 0.30c???

What ever the mkt determines it to be,

I see fair value around $25m given $6m cash an 740,000oz's gold = 40cps

But we'll wait and see what the market thinks
 
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Someone bought a nice chunk this morning at 10:34, half a million shares worth $110k at 22c a share. I still have EKM on my to buy list..... Gold's creeping up again..... :D
 
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Not thats what I like to see!

They listed 1 week ago with 60m shares (only 30m tradeable)

Cash of $6m (good amount)

740koz's of JORC Gold (Excellent size)

And have already strated drilling,

I read somewhere that prior to listing they did some drilling which came up with some beefy intersections, be interesting to see what this new drilling confirms,

So cheap, so so cheap!
 
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:)

Hi folks,

Let's set sail in the recently-launched EKM, for this week.

EKM has a current drilling programme and with some
positive time cycles this week, it would not be surprising
to see a breakout in the price ..... :)

No EKM chart, as there's only limited data, as yet.

have a great weekend

yogi

:)
 
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Yogi, do you expect and announcements in the coming week(s)

If so any thoughts on when to expect results from say the Khan North project - where they are drilling to follow up high grade intercepts.

I imagine if those results are good, that the sp should take a bit of a run
cheers
 
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pharaoh said:
Yogi, do you expect and announcements in the coming week(s)

If so any thoughts on when to expect results from say the Khan North project - where they are drilling to follow up high grade intercepts.

I imagine if those results are good, that the sp should take a bit of a run
cheers

=====

Hi pharaoh,

EKM ... if there is a breakout this week, it will likely
be triggered by some positive news ..... yes???

happy days

yogi

:)
 
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yogi-in-oz said:
=====

Hi pharaoh,

EKM ... if there is a breakout this week, it will likely
be triggered by some positive news ..... yes???

happy days

yogi

:)

Hi Yogi

I don't think Pharaoh has quite understood yet that you study the entrails of chickens for your forecasts and not FA:D :) :D
 
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Minesite.com article for you guys to read

Eleckra Mines Has An Enviable Position On The Yamarna Greenstone Belt In The Eastern Goldfields by Our Man in Oz

Unfortunately it was not possible to get hold of Richard Harris, managing diorector of Eleckra Mines, as he was abroad, but it is quite clear that this company is forging ahead with its two gold projects in Western Australia since listing on the ASX in July. The most advanced of the two is the Yamarna project situated on the eastern margin of the Archaean Yilgarn Craton some 140 kms east of Laverton and 900kms north east of Perth. The company also has the Darkan project which consists of an exploration licence to the south east of Perth covering 190 sq kms of the southern extension of the Darkan Fault. It is situated to the south east of Perth and is also 60 kms south east of the Boddington gold-copper deposit with current reserves of 11 million ozs of gold currently at the development stage.

The Archaean Yilgarn Craton itself hosts numerous world class orebodies and accounts for over half of Australia's 8 million ozs of annual gold production. Eleckra's tenements cover 3,000 sq kms which involves most of the Yamarna greenstone belt and portions of the adjacent Dorothy Hills and Mount Venn greenstone belts within the Eastern Goldfields. The project has resources in all three categories amounting to 12.6 million tonnes grading an average of 1.8 g/t to give 740,000 ozs of gold. It is also prospective for copper, nickel, chrome, platinum group elements and uranium so some interesting by-plays may materialise.

Yamarna is one of the last greenstone belts in Western Australia that has not received the intensive exploration commonly seen in other similar belts. This is strange as it is not too far from the Laverton greenstone belt which boasts total resources of 25 million ounces of gold, Yandal with 19 million ounces and Leonora with 12 million ounces. In fact about half of the Attila regional fault, with a strike length of 180 kms, has never been drilled at all and Eleckra has already confirmed that it numerous coincident structural and geochemical targets to follow up. A strong plus for the company lies in the fact that the fault system at Yamarna is part of a deep crustal suture, similar to the fault systems at the adjacent Laverton belt and Leonora belt to the west, which both host world class gold mines.

Richard Harris, who is very much alive unlike the famous actor of that name, has developed a two part exploration strategy. The primary focus will be to explore the tenements with a view to discovering gold deposits that can be developed and, at the moment, there are fifteen structural and geochemical targets that warrant early drill testing. Second, Eleckra wants to build on its resource base to a sufficient size and grade to justify mine development at an early stage and, to this end, infill and extensional drilling will be carried out on high grade positions within the Attila/Alaric resource area and the Khan North and Breelya prospects. Revised scoping studies are also planned at Yamarna North to test whether a mining operation could prove economic.

It is quite possible that joint ventures will be negotiated if metals other than gold prove to be sufficiently attractive. Provided companies with proven expertise in the prospective target metal can be found this will limit the financial and geological risk as far as Eleckra is concerned. By way of example, a section of the Thatcher Soak uranium prospect and sections of the anomalous calcrete drainage channel extend onto the Yamarna Project tenements. The company hopes to test the potential for possible economic uranium resources at Thatcher's Soak with a modest exploration drill program in its own right to get an idea of value before farming out the uranium rights.

The present state of play at Yamarna is that several deposits have been located within a 14km strike length of the Attila-Alaric line of mineralisation. A follow-up reverse circulation drilling programme will start later this month as the results from the initial drill programme were very encouraging with 90 per cent of the holes encountering anomalous gold mineralization grading better than 1 g/t. The best results included 3 metres at 9.36 g/t from 68 metres at Attila North, 6 metres at 5.45 g/t from 53 metres at Attila and 3 metres at 4.58 g/t fropm 24 metres at Alaric. Thus deeper drilling at Attila has shown the potential for extensions at depth which were missed by previous shallow drilling and the gold mineralization at Attila now extends along strike to the north. The southern strike extension of the Attila North deposit has also been confirmed, so there should be more good news before long.
 
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EKM

Mkt Structure


Shares

60m +6.5m 20c options
So 65m fully diluted
Mkt Cap @ 30c = $20
Mkt Cap @ 40c = $26m
Mkt Cap @ 50c = $33m

Cash

$3.2m + $1.3m from opies = $4.5m



Projects


Yamarna
Gold, 100%, W.A.
Old JORC of 12.6Mt@1.8g/t Au = 740koz's Gold

Due to be up graded by mid year (expect 50-75% increase)

At $25 EV/oz Gold resource = $18.5m


Thatchers Soak
Uranium, 100%, W.A.

This is the extension of Uranex's (UNX) Thatcher Soak deposit,

Drilling has found mulitple from surface 1-3m intercepts of 200-300ppm U, very low but FROM SURFACE!

They are looking at options to maximise value here,

SPEC Value around $5m

Also has 2 other Licences


Summary

Cash including options exercised = $4.5m
Yamarna Gold EV@ $25/oz Gold = $18.5m
Spec Value of Uranium Project = $5m

Total rough value = $28m = 42.5cps EKM


Cheers
 
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Am surprised that theres still no follow up comments,

Having cleared and now held 30c the stock looks ready to explode
 
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Bid: 32.5
Ask: 48

35000 for sale..! :eek:

About to go off alright, but not at that spread!
 
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petervan said:
is this company drilling now or is there some other news coming out.no sellers anywhere.

I'm guessing that they're going to spin out their U Assets, (just like every other AUS U company) in which case the U assets Spec Value would increase from $5m to probably $10m

If you read latest qtrly they kept talking about "maximising Uranium Projects value"

Thoughts?
 
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maximising uranium project value. i am sure they get some spin out of that in the current market. long way up long way down.
 
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Will be very interesting to see EKM's performance thise week,

Hardly any sellers came out of the woodwork on Friday to sell into rise,

I know for a fact that Hartley's in Perth are a big believer of the story and have been accumulating EKM for awhile now, just like BCN and JML.
 

nomore4s

Commonsense isn't that common
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YOUNG_TRADER said:
Will be very interesting to see EKM's performance thise week,

Hardly any sellers came out of the woodwork on Friday to sell into rise,

I know for a fact that Hartley's in Perth are a big believer of the story and have been accumulating EKM for awhile now, just like BCN and JML.

Is looking good on Moses SMA chart as well. I don't hold yet as I've just noticed it & have been doing research on them, hope I can get in now not many sellers.
 

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