MAU - Magnetic Resources

[troppojoe]

Hi all,
Anyone else hold these guys???
If so what is your opinion??

http://www.magres.com.au/

I expect big things from these guys in the near future!

Joe

 

[Joe Blow]

I expect big things from these guys in the near future!

Hi Joe - Could you please elaborate a little further about what sort of big things you expect from MAU?

Thanks!

 

[Bluebeard]

This one could be a goer. Recently they have had some good announcements and one director picked up 589,812 shares which cost $233,703. The purchase was made on the market. Average price according to my calculation is 39.6c per share. Share price at the moment is around 50c. This one is definately on my watchlist. Also note that this company doesnt have alot of shares on issue as well, so any good results in the future could send this one rocketing upwards.

 

[Speculator]

Released on the 17th

..............

As part of its expanded search for iron ore close to existing infrastructure, Magnetic Resources has commenced a 3,480sq km high resolution aeromagnetic survey of its tenements over multiple target areas in the SW of WA (ASX release 22 January 2010). The aeromagnetic survey being carried out by GPX Surveys, will comprise some 16,280 line-km of flying on 250m line-spacings, in areas where much of the historic aeromagnetic data is based on line-spacings of 1,600m. Only 20% of the survey has been completed to date yet 32km of new iron targets have already been outlined over two separate areas near Wubin and Lake Goorly. This brings the total strike length of iron targets identified from recent aeromagnetic surveys to more than 100km.

Preliminary interpretation of the surveyed areas north of Wubin has identified eight main target areas covering a total strike length of 24km of potential iron formations as shown in the attached map. One of the target areas covers a mapped outcropping banded iron formation (BIF) occurrence.
The targets within the Wubin area are all within 12km of the Wubin-Perenjori railway line which passes through the tenements, highlighting the proximity of this tenement area to existing infrastructure. One large oval target 5km x 2km in area is only 200m from the railway line. Magnetic is cognisant of the proximity of the old Koolanooka iron ore mine 60km to the north of Wubin, where historically 5Mt of direct shipping iron ore (DSO) was shipped between 1966 and 1974.

The Lake Goorly area preliminary data show five target areas covering a total strike length of 8km of potential iron formations three of which cover mapped outcropping BIF occurrences. The Lake Goorly area is approximately 35km from the railway line at Wubin. The preliminary survey results confirm Magnetic’s interpretation of the low resolution regional aeromagnetic data and Magnetic is greatly encouraged by these early results,
with 80% of the survey yet to be completed. Field reconnaissance and sampling of the identified targets for both magnetite and DSO is in preparation. Further results of the aeromagnetic survey will be released as they come to hand.

...................

Interesting to see no posts since ann release.

Exciting future for this stock, personally looking forward to see what April brings

Disc: Bought a parcel on 15th and plan to hold for two years unless news tells me otherwise.

 

[troppojoe]

Here she goes, latest results are out on the aeromag at wubin and dalwallinu. 150km strike length, with a detailed follow up to follow. Broken thru the 50 to 51 cent resistance and has jumped to 62. Lets see if she holds.

 

[Bluebeard]

This one down to high 30s from there highs of around 60. Anyone still following this one? I also noticed that from January management has continued to buy shares- alot of shares!

 

[Tukker]

Chart looks like its ready to pop. Can anyone else see an ascending triangle forming here? Volume is a bit low to justify it really. Nothing dodgy that i can see.

Comments, critisizms, cookies?

 

[Bluebeard]

Im no chart expert but it seems to be developing a base? Price into the mid30s now. Probably needs some news now to move it forwards. The overall markets arent helping this one either. Id be interested in getting someone whose better with charts to give us there opinion here.

 

[piggybank]

Up a 100% in a month but very low liquidity

 

[barney]

Big jump off the recent lows today on a sniff of good news. (currently up 52%)

Results are pending for a recent 40 hole drilling programme …… maybe someone has some knowledge of the assay results

Bit of nearology assistance with the 15Mt (@1.4g/t) Jupiter deposit just up the road as well. Very tightly held!

 

[rcw1]

Good afternoon
No posts since 7 January 2019. Plenty water flowed under the bridge since then.

A number of announcements today (07/10/24), having a look at it.
Kindly conduct your own due diligence.

$10 834 000 12 month cash burn to 30 June 2024.

MAU's Lady Julie Gold Project in the Laverton gold region of Western Australia has been reported to be a financially attractive low cost standalone project, with a high margin gold production of 817,470 ounces. 104,000 ounces per year over 8-year mine life. AISC of A$1,386/oz and NPV $925M

Magnetic eyes low-cost, high-margin standalone gold production at Lady Julie - Stockhead

Magnetic Resources’ economic update for the Lady Julie Gold Project has demonstrated the project is both technically and financially robust.

stockhead.com.au

Weekly chart

regards

rcw1

 

[rcw1]

Good evening
Quarterly report ending 31 December 2024 published. 2.64 quarters of funding left in the kitty.

The down-dip dimension of this impressive northern main zone of LJN4 has now grown from 750m to a very impressive at least 1000m. This zone keeps expanding with excellent results shown below from many infill and extensional diamond holes. Multiple gold intersections are present within MLJDD058-59, 63, 65 and 66 and include: • MLJDD058 18m at 1.2g/t from 584m and 18m at 2.2g/t from 674m. • MLJDD059: 76m at 2.4g/t Au from 435m, including 30m at 3.5g/t from 471m, further including 10m at 6.3g/t from 490m. • MLJDDO63 14m at 2.1g/t from 277m including 5m at 3.6g/t from 284m. • MLJDD065 24m at 5.1g/t Au from 352m. • MLJDD066 27m at 3.2g/t Au from 315m.

Two deep diamond holes are being planned testing for deeper extensions of the northern main ultramafic lode (which is still open at depth) and one diamond hole testing for deeper extensions of the southern breccia silica pyrite lode. Strong average gold recoveries in excess over 91%, across all oxidation states in seven composites covering the LJN4 Deposit. Five of the composites have been subjected to conventional gravity/ CIL leach. The other two include the addition of flotation and fine grind of float cons. As a result of promising economic results and outstanding deeper main lode and new multiple hanging wall lodes assay results, a feasibility study is continuing and will include both open cut and underground resources for the first time which is expected to further enhance our economics.

Magnetic is continuing discussions with select mining companies who are completing due diligence studies in its data room. In addition, numerous financiers are completing their due diligence and are potentially looking at providing financing for the Lady Julie Gold Project.

Chart update

Daily

Kind regards
rcw1

 

[Dona Ferentes]

$1.38

OUTSTANDING INTERSECTION 51M AT 3.5G/T FROM 444M INCLUDING 14M AT 8.8G/T FROM 451M AND LJN4 IS STILL OPEN AT DEPTH​

The 400m northern part of the 750m long LJN4 is still increasing in size. Previously we had a 200m x 300m High-Grade Core 1 in the southern silicified ultramafic and a 150m x 600m High-Grade Core 2 in the northern silicified fuchsite altered ultramafic. The latest drilling defines a new most northern third 150m x 400m High-Grade Core 3 which remains open at depth.

New diamond hole MLJDD076 (600m) is currently being drilled and is a 125m step out from the outstanding MLJDD075 . MLJDD073 (1000m) is close to completion and is looking to extend the down dip extent of the High-Grade Core 2 below 1000m down dip. If Holes MMLJDD073 and MLJDD076 are successful, there is strong potential to further increase the resource base for the LJN4 Deposit of 23.6Mt at 2.04g/t for 1.55Moz