hmmm looks like alot of ppl dumped their shares near end of trade today. imo i think you will see a drop tommorrow, today was the highest it has been within a 2 year time frame. By the looks of the charts, it is not ideal to hold for the long term only short. Gonna take a bit to break past 22c
I bought 50,000 HNR 4 weeks ago. They are close to the Flying Fox deposit belonging to Western Areas. HNR is drilling in their area nearby during the first week of Sep. Also, one of its directors is Terrence Grammer, who co-discovered JBM's Cosmos deposit. Mr Grammer was also one of the founding directors of Western Areas. Hartley Poynton has a Spec Buy recommendation on HNR.
As always, do your own research before buying/selling. My view is that its one nickel stock to watch over the next few weeks.
HNR has definitely gone for a good run. I've now sold mine and have now moved into South Boulder Mines (STB). It recently featured in the Speculator's column in the Bulletin (Oct 06). IGO is currently drilling for NICKEL on their Duketon prospect in WA and is earning a 70% interest. STB is only capitalised at $9 mill (around 40 mill shares on issue) and looks an interesting prospect.
As always, do your own research before buying / selling.
Hannans Reward Ltd (ASX: HNR) has signed an agreement to assess minerals, petroleum and agricultural projects in PNG that are sourced by private company JLM Resources Ltd (“JLM”).
The opportunity to partner with Mal Michael and colleagues in PNG is considered significant and represents Hannans Reward’s first step towards obtaining exposure to projects outside Australia
· Hannans Reward Ltd (ASX: HNR) has entered into an agreement with private PNG company JLM Resources Limited (‘JLM’); the Managing Director of JLM is PNG identity Mr Mal Michael
· JLM has established relationships with traditional landowner groups in PNG whereby JLM has agreed to source foreign investment for the development of the landowners’ projects
· JLM has granted Hannans a pre-emptive right to acquire all natural resource projects sourced by JLM in PNG; if Hannans exercises its pre-emptive rights it will form a 50/50 joint venture with JLM to develop each project
Forrestania Project (Hannans Reward 80% & Cullen Resources 20%) (80km easy of Hyden, WA) – Gold & Nickel
o RC drilling to test eight nickel targets (located approx. 15km north of Flying Fox nickel mine) scheduled to commence this Quarter; refer attached map
o North Ironcap clearing approvals obtained enabling RAB drilling to test for extension of known gold mineralisation; drilling scheduled to commence in August 2007
o Infill auger soil sampling to be planned over several discrete gold anomalies
Jigalong Project (near Newman, WA) – Iron, Uranium & Base Metals
o 1,500 soil samples collected targeting uranium, iron and base metals; results & interpretation expected during July 2007; refer attached map
o Applications to conduct heritage surveys lodged with native title claimants o RAB drilling has been planned to test uranium, iron and base metals geochemistry targets; scheduled to commence after results of heritage surveys are known
Maggie Hays South
o Reinterpretation of previous Hannans sampling suggests further exploration is warranted for gold-copper-molybdenum systems
o Auger soil sampling to follow up copper- gold anomalies will be planned during the Quarter
Sunday (near Leonora, WA) - Gold
o Additional auger soil sampling for gold scheduled for July 2007
o Assays of previous samples identifies anomalous platinum group element metals
Queen Victoria Rocks (near Coolgardie, WA) – Nickel & Gold
o Soil sampling targeting gold was planned during the Quarter
o Nickel review planned for this Quarter
Forrestania Project (near Hyden, WA) – Gold & Nickel
o RAB drilling has commenced to extend known gold mineralisation at North Ironcap
A RAB drilling programme of 92 holes for 3,220m commenced last week to test for northerly extensions to the known North Ironcap gold mineralisation
Results are anticipated early October
• Jigalong Project (near Newman, WA) – Iron, Uranium & Base Metals
o A third soil sampling programme has just been completed following receipt of encouraging early stage uranium, iron and lead anomalies
An additional 600 soil samples (approx) were collected from the Project during August with a focus on gold (148 samples), lead (70 samples), multi-element potential (150 samples) and uranium (230 samples); a number of calcrete samples (137) were also collected
Results are anticipated late September
Sunday (near Leonora, WA) - Gold
o The next round of drilling for gold is scheduled to commence late September and comprises 34 vertical aircore holes for approximately 2,230m
o Additional soil sampling within the Malcolm Creek prospect area was completed during the Quarter with results to be included in the next Quarterly Activities Report.
The purpose of this report is to bring shareholders up to date with the Company’s exploration activities since the 4th Quarter Activities report was released to ASX on 6 July 2007.
Not sure about the placement, but the sp has had a good move over the last couple of days. Hope this keeps up.
I'm with you Bigdog, they have some nice neighbors in all the area's they reside. Just check a few of them out.......
AGM in Melb this year, they must have a lot of support here, and a good meeting is always positive. My guess is that it will also be a "meet and greet" opportunity for both the company and stockholders.
Shandong Landbridge Group (“Landbridge”) requests further extension of time within which to complete 2nd tranche of Placement
o Hannans Reward Ltd (“Hannans”) fully intends to continue working with Landbridge and its wholly owned subsidiary Aus Global Resources Pty Ltd to build a long term mutually beneficial relationship
o The 2nd tranche of the Placement comprises AUD3.5m at 55 cents per shares
o The 1st tranche of the Placement, AUD2m at 55 cents per shares, was completed on 1 May 2007
o Landbridge is currently the fourth largest shareholder in Hannans
o Hannans remains fully funded to implement its exploration programmes with a cash balance of approximately AUD4m
Shandong Landbridge Group (“Landbridge”) (www.landbridge.com.cn) is a respected large private Chinese company based in Rizhao, Shandong Province, China. The Company has business interests including infrastructure construction and management, oil refining and timber milling. Details of the Placement were released to ASX on 17 April 2007, 31 July 2007 and 31 August 2007. Subject to completion of the Placement, Landbridge will be Hannans’ second largest shareholder.
· Forrestania Project (near Hyden, WA) – Gold & Nickel
o Results from the RAB drilling programme to test for northerly extensions to the known North Ironcap gold resources have been returned and indicate some potential for further gold mineralization within the ferruginous chert, which hosts the gold mineralization to the south. Reverse circulation (RC) drilling will be required to assess this target horizon further.
· Jigalong Project (near Newman, WA) – Iron, Uranium & Base Metals
o A 3rd MMI soil sampling programme was completed during the 1st Quarter with an interpretation of the results to be released during November 2007
o A detailed magnetic interpretation of the northern portion of the project
was progressed during the 1st Quarter by Bruce Craven from Southern Geoscience, with the report anticipated to be received during November 2007
o Discussions with the advisers to the Jigalong Community Inc continued during the Quarter and are ongoing
· Queen Victoria Rocks (near Coolgardie, WA) – Nickel & Gold
o A helicopter borne VTEM survey was planned over the QVR magnetic features during the 1st Quarter. Of particular interest is the magnetic feature to the north of the Spargos Ultramafic. It will be flown in conjunction with a major nickel miner, who is in joint venture with tenement holders on the tenure immediately to the west of Hannans ground.
o A review of Hannans’ historical exploration results during the 1st Quarter has identified that lithogeochemical studies at the Spargos and Valliant gold prospects may assist drill targeting and identification of a source to the previously identified auger and gold anomalous alteration systems identified in the aircore drilling.
· Sunday (near Leonora, WA) – Gold & Nickel
o An auger soil sampling programme of 524 samples was completed during the 1st Quarter; a one-point gold anomaly of 857ppb gold was returned; a nickel anomaly of 2,343ppm Ni along strike from the Malcolm Creek nickel prospect was returned
o A second auger soil sampling programme of 442 samples was also completed
Hannans Reward Ltd (ASX:HNR) has intersected high grade iron mineralisation in reverse circulation (RC) drilling at the Mijimiji1 Iron Prospect within the Jigalong Project, 165km east of Newman in the East Pilbara region of Western Australia (see Figure 5).
The latest results from Mijimiji confirm high grade hematite mineralisation; including intersections of 20m @ 62.8% Fe, 4.0% SiO2, 3.4% Al2O3, 0.04% P and 2.3% LOI from 50m in JIRC019 and 42m @ 59.3% Fe, 5.1% SiO2, 3.3% Al2O3, 0.11% P and 6.4% LOI from 78m in JIRC019 (refer Table 1).
The combination of high iron grades, low impurities, prospective strike length (~8km), breadth (~300m) and widths (up to 42m) is considered to be a significant step towards opening up the emerging East Pilbara Iron Ore Province with the Mijimiji Iron Prospect located between two iron ore resources owned by FerrAus Ltd
The mineralisation on co-ordinate 260250mE is approximately 300m wide by 6-42m thick and dips to the north. Three of the holes were abandoned before the target depth was reached due to difficult drilling conditions and thus the mineralisation remains open at depth (see Figure 1). Mineralisation is located under approximately 50m of transported cover.
These results are encouraging as they are located some 2.7km to the west of previously reported mineralisation (refer ASX Announcement 9th September 2008) on 262560mE which included 16m @ 59% Fe; adding to the potential of identifying a possible ~8km zone of mineralisation within the Mijimiji Prospect (see Figure 2).
The recently completed reverse circulation (RC) programme comprised 45 drill holes for a total of 5,642m testing iron targets located along an ~8km long magnetic/gravity anomaly considered to be prospective for iron mineralisation. Several batches of iron assays are still outstanding with results anticipated to be received within 4-6 weeks.
Once all assay results have been received and interpreted the Company will assess the probability of taking the Mijimiji Iron Prospect to the next stage.