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GBM - GBM Gold

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Gold mining in the Bendigo region of Victoria, Australia.

Greater Bendigo Gold Mines Limited was admitted to the Official List of ASX Limited on
Friday, 23 February 2007.
Official Quotation of the following securities will commence at 11.00 am AEDT on
Monday, 5 March 2007.
33,109,583 ordinary shares fully paid, issued at 20 cents per share
12,424,433 options exercisable at 20 cents each on or before 31 December 2009

SPECTACULAR ASSAY RESULTS ANNOUNCED

Greater Bendigo Gold Mines (ASX:GBM) reports the level 1 drive at the Maxwells Mine has achieved its next objective by intersecting the 1994 exploration rise above one of the rich areas of underground workings within the mine.
Initial grab samples have returned grades of 1,118 g/t, 12.5 g/t and 164.7g/t.
Sampling by Central Victorian Gold N.L. reported in the GBM June 2007 quarterly report described significant grades from the rise, hence the decision to push the underground mine at the new level 1 to this area.
Location pins for samples taken in 1998 have been identified, and the preliminary results received today are from initial grab samples taken close to the CVUG 62 PIN
 
Re: GBM - Greater Bendigo Gold Mines Limited

Gold mining in the Bendigo region of Victoria, Australia.

Greater Bendigo Gold Mines Limited was admitted to the Official List of ASX Limited on
Friday, 23 February 2007.
Official Quotation of the following securities will commence at 11.00 am AEDT on
Monday, 5 March 2007.
33,109,583 ordinary shares fully paid, issued at 20 cents per share
12,424,433 options exercisable at 20 cents each on or before 31 December 2009

SPECTACULAR ASSAY RESULTS ANNOUNCED

Greater Bendigo Gold Mines (ASX:GBM) reports the level 1 drive at the Maxwells Mine has achieved its next objective by intersecting the 1994 exploration rise above one of the rich areas of underground workings within the mine.
Initial grab samples have returned grades of 1,118 g/t, 12.5 g/t and 164.7g/t.
Sampling by Central Victorian Gold N.L. reported in the GBM June 2007 quarterly report described significant grades from the rise, hence the decision to push the underground mine at the new level 1 to this area.
Location pins for samples taken in 1998 have been identified, and the preliminary results received today are from initial grab samples taken close to the CVUG 62 PIN

hehehe... you beat me bluesky.:p:
i almost make a thread about this after searching there is none in forums.
quite a fantastic find.
considering gold price $761 now.
will see how it goes from here.
good luck to all holders.
 
Re: GBM - Greater Bendigo Gold Mines Limited

Gold mining in the Bendigo region of Victoria, Australia.

Greater Bendigo Gold Mines Limited was admitted to the Official List of ASX Limited on
Friday, 23 February 2007.
Official Quotation of the following securities will commence at 11.00 am AEDT on
Monday, 5 March 2007.
33,109,583 ordinary shares fully paid, issued at 20 cents per share
12,424,433 options exercisable at 20 cents each on or before 31 December 2009

SPECTACULAR ASSAY RESULTS ANNOUNCED

Greater Bendigo Gold Mines (ASX:GBM) reports the level 1 drive at the Maxwells Mine has achieved its next objective by intersecting the 1994 exploration rise above one of the rich areas of underground workings within the mine.
Initial grab samples have returned grades of 1,118 g/t, 12.5 g/t and 164.7g/t.
Sampling by Central Victorian Gold N.L. reported in the GBM June 2007 quarterly report described significant grades from the rise, hence the decision to push the underground mine at the new level 1 to this area.
Location pins for samples taken in 1998 have been identified, and the preliminary results received today are from initial grab samples taken close to the CVUG 62 PIN

Over 1 KG per tonne ina one sample !!!!!!!???????!!!!!!!

That's just plain ridiculous. On that basis, and the 9 projects, I have to say that it underperformed today.

I will be burning the midnoght oil looking at this. If all is as well as it looks, I will be hoping to get a decent entry tomorrow.
 
Re: GBM - Greater Bendigo Gold Mines

Amazing run up for Greater Bendigo Gold Mines.
I saw the ann about 2pm and though jess wish I had some cash :mad:
It should just keep going tomorrow I would think, 1,118 g/t is just stunning.

Congrats to those holding.
 
Re: GBM - Greater Bendigo Gold Mines

news out..
not 1.1kg per ton
but upgrade into 1.5kg per ton now....
this is getting better and better :)
good luck to all holders.
 
Re: GBM - Greater Bendigo Gold Mines

Are these types of grades common?

Does anyone with specific knowledge of gold mining have any explainations for these grades?
 
Re: GBM - Greater Bendigo Gold Mines

Are these types of grades common?

Does anyone with specific knowledge of gold mining have any explainations for these grades?
No, not common, but will only occur over relatively short intersections. So the trade off is tonnage.
 
Re: GBM - Greater Bendigo Gold Mines

Graph didnt work for me...i know what they look like but what does a big red candle on the graph mean?
 
Re: GBM - Greater Bendigo Gold Mines

Sorry the chart didn't work, I will retry :eek:

I was looking at the candle chart, the solid red candle - opened at the high and closed at the low on good volume, my query was on profit taking, if holding the stock, this would have been an attractive area to take a profit
 

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Re: GBM - Greater Bendigo Gold Mines

cheers for the graph, I have a lot to learn about the technical analysis side of things, time will tell if it was an attractive area to take profit.

Not holding
 
Re: GBM - Greater Bendigo Gold Mines

Interestinting presentation by the Chairman at todays AGM
"GBGM is on target to become a producer of Gold & instigatea profitable monthly Cashflow from early in the 2nd half of the current financial year Jan to 30 June 2008"

Tragetted Output to:
5,000+ oz by June 2008
rising to
20,000+ oz by June 2009

Whats that worth in value to a 10mio Capped Stock ??? :)
 
Re: GBM - Greater Bendigo Gold Mines

Ann Out

SUMMARY OF ANALYSIS TABLE
Sample
Average Head Grade
Grade from sizing analysis
LMAX‐A
37.9 g/t
73.3 g/t
LMAX‐B
88.3 g/t
58.9 g/t
LMAX‐C
39.35 g/t
36.8 g/t

These are pretty good grades imo .. just cant figure out how much of it there is
 
Re: GBM - Greater Bendigo Gold Mines

Hard to work out the likely resource of the 3 drives that they are doing !

Director Hoare has been buying alot of stock so that may send a reasonable message of confidence & potential of the maxwell mine.

We await further info for clarification !:)
 
Re: GBM - Greater Bendigo Gold Mines

ann out.
first gold production in first quarter 2008.
junior gold producer, yet sp still at 15c ??????
with gold price at 910,90 this is weird ?
 
Re: GBM - Greater Bendigo Gold Mines

Exactly !

GBM come a long way since listing a year ago.

More than one area of profit generation to take into account on this stock.

1. Gold Production....
2. Gravel Sands......
3. 50% int in drilling rig...
4. MRT ... part of gold recovery processing....

Once we have resource no. & possible financial projections, these should start to make the sp move in the right direction !:)
 
Re: GBM - Greater Bendigo Gold Mines

After digesting the cash flow activities & prvious announcements it certainly looks like the market is still to get a good handle on the potential of GBM going forward !

I have summarised some of what i think are the more important components of their Cash Flow Activity report on Friday.

- Gold production to start in Mar 2008 with Revenue for the period ending JUn 2008 at $5.0 mio (only 1 quarter) with this to grow significantly higher in the following
2 years.

Lets assume that Maxwell is producing 20,000 oz per annum for say a lifespan of 10 years that would in turn tell us that the resource is likely to be around 200,000 oz ! without including any other assay results!

- GBM's aim is to reduce the current portfolio from 9 projects to 5 These sales should in turn create 1 off revenue for the Company whilst enabling great focus on the current portfolio.

- The ISG project is an intesting one aswell as this could enable profit generation from 2 avenues
- Gold producing (albeit small) & Gravel sales contracts
If we make an assumption of say 1 oz per tonne of gold production from the GS & in turn have say 50,000
tonnes of gravel - do the no. on both gold(A1000 oz) & gravel(say $100pt)

We all await the JORC to really get a handle on the Maxwell resource as having 3 diffenerent drives makes it all guesswork at this stage !:)
 
Re: GBM - Greater Bendigo Gold Mines

I got burnt in Bendigo Mining, but I have read that that this area is one of the best areas for Gold mining anywhere in the world. I put some dough into GBM when it was 11 cents.

I am worried that
- December cash on hand was only $ 141,000 (plus receivables)
- their plant is running behind time (was originally for commissioning in December).
- they are building a plant and have promised a resource statement, but have not issued it.

But guess that
- Any Central Victorian miner has difficulty with a resource statement, because they can't meet the JORC standard, because this goldfield is rich but "nuggety" - your drill holes don't give an accurate measurement. The gold is not evenly spread like in WA, making measurement difficult.
- they wouldn't be building a plant unless they were sure the gold was there (and their main project in "Inglewood" has been a very rich producer historically).

If they can solve the low cash issue without much dilution of existing shareholders, and get their plant going as predicted, I'll be in for a lot more of this baby.
 
Re: GBM - Greater Bendigo Gold Mines

agree, they short some money at this stage. BUT I heard they have some funds coming shortly (not sure this is true). once start to produce in later this month, they will have enough funds to keep mining. Central VIC have high grade gold which is compare with other areas. i.e. one of GBM drilling sample has 1kg/t gold. That is amazing drilling result. I believe this company will get market passion shortly.
 
Re: GBM - Greater Bendigo Gold Mines

look out for this one guys.. they now got funding from the recent announcement. All they need to do is start performing :)
 
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