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MCO - Morning Star Gold

Discussion in 'Stocks I-P' started by moses, Dec 3, 2006.

sentifi.com

Aussie Stock Forum Sentifi Top themes and market attention on:

  1. Paladin

    Paladin

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    With a pour coming up, a TV spot being filmed tomorrow, and the pesky seller down from 4 mil shares to <500k, I'd say this one is just about ready for blast off soon. Have been accumulating at sub .20.
     
  2. saltyjones

    saltyjones saltyjones

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    today there are new photos of the mine & also rocks on the website; including blast-rock being bought to surface.

    check out : photo gallery : then get a close-up on "ore with headframe" photo.

    do you notice the quartz & also the yellow stuff. well the yellow stuff is one indicator for high grade gold at MS mine apparently. also note the sparkling silver flinty stuff. that is pyrite (woods point fool's gold !!!). again, a very good indicator mineral that the MCO geo's look for.

    now check out the Waverley pic "waverley core 2008". note the green stuff in the drillcore. that is fuchrite. again, a key mineral indicator for MCO. at the lower end of the core, above the fuchrite, you can see one small circle of visible gold. that is spelt : GOLD : in my book on rocks. all the flinty sparkly silver stuff is pyrite i.e.fools gold - an indicator.


    in the past the co. has mentioned 3 'key mineral indicators' as being chrome-mica, ankerite & sulphide distribution (2005 annual report : page 7 under significant discoveries...)....out of interest....it goes on to say "several laminated quartz stockworks & breccia zones carrying key indicator minerals & galena...".

    also, in the jorc report (30 july 2008 : page 6) it says....Many of these have all the key mineralogical and structural indicators of the historical major production zones, and therefore present significant exploration targets...........(then on page 10) : This work has substantiated the use of diamond drilling as an integral tool for identifying vein orientation and key indicator minerals.
    (page 11) : These zones carry the key mineralogical indicator sulphide-carbonate-sericite assemblage, which has been observed in the main production reefs.......

    so there you have it folks. the key mineral indicators are present in both the Maxwell reef & the waverley dyke rocks. and the key mineral indicators historically means commercial grade deposits.


    (disclaimer : i aint no geo so we will have to rely upon others for further input)
     
  3. saltyjones

    saltyjones saltyjones

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    big report coming out tomorrow - monday morning. read it & find out more about this undervalued, HIGHLY rated gold co. that has a jorc resource of 910,000 ounces (700,000+ ounces at 11.2g/t) & where grade factoring of 2 fold - 5 fold really means a resource 2 - 5 times bigger. morning star mine is located 2 & a half hours from melbourne.

    if you done now anything abou this co. this will be your opportunity to read up on it.
     
  4. saltyjones

    saltyjones saltyjones

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    Close examination of old maps/plans/sections of mines suggest some mines had several dykes. All Nations had 3, A1 had 5, Shamrock where MCO have done recent mapping & sampling, appears on Whitelaw’s plans to have between 5 – 10 dykes depending on the interpretation.

    incidently, Whitelaw was a geologist who did a lot of geo work around the old workings & dykes of the woods point area back in the 1890's. the famous Morning Star mine has a rich & prominent reef named after him. this reef , Whitelaws reef, was mined at a production grade of 40g/t. there remains more ore intact then was ever extracted.
     
  5. So_Cynical

    So_Cynical The Contrarian Averager

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    All good news from MCO but the SP just keeps falling like everything else.

    Probably one of the better emerging Aussie producers.
     

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  6. saltyjones

    saltyjones saltyjones

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    if gold remains bullish in 2009 then small cap. gold miners come into play. the big boys have had some remarkable sp moves over the past few weeks. our turn will come no doubt.

    MCO is for those who can read the dynamics at play over the coming months & years.

    any co. with a resource to talk of, where grade & tonnage are jorc'd, with upside to resource potential, will cut the mustard. MCO will be paying dividends for decades to come when the operation is going full bore. some other gold mining companies, where grade dilution will hinder production & profitability, will make money for a number of consecutive quarters, then go down the gurgler without ever paying a dividend. for a long term investment these companies do not cut it with me.

    MCO has an Underground JORC Resource component of 726,000
    Ounces Gold (2.0 Million Tonnes at 11.2g/t).

    there is a large near surface JORC Resource of
    184,000 Ounces Gold, yet i am not particularly concerned with that part atm.

    so, fundamentally, an u/g jorc resource is so far defined with plenty of upside thru more drilling & interpretation of the GMA/WMC archival records (55% not yet included in the jorc).

    this is old news obviously, yet to reiterate :

    726,000 ounces & using the minimum grade factor of 2.5fold = 1,815,000 ounces.

    now 1,815,000 ounces at a conservative $1100 aussie dollars equals = $2b. of gold in ground.

    market cap. today for MCO is approx. $14m.

    does that make MCO a glaring buy for a hold for at least 6 - 9 months, in which time everything will come together for the company i.e. a decline & an u/g plant installed?

    i used a grade factor of 2.5fold to calculate the resource using the 21 october, 2008 paper on narrow vein mining (page 1) :

    Significant variation exists between the grade of drill core intersections and that observed in face sampling and subsequent production reconciliation (250 - 650 per cent).
     
  7. Mickyd

    Mickyd

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    Well it appears the 'trial mining' was a little too expensive for MCO. I didn't think MCO's tiny budget could accommodate that. Now they are going down of the path of 'pre-feasibility studies'. Surprise, surprise.

    MCO is a long, long way from production if it ever happens at all. Pre-feasibility studies, feasibility studies, bulk sampling, permitting, funding, mine and plant development. The list goes on. Production would be years away at best.

    Not very exciting. The announcement will be in the order of something like this:

    Treatment rate (Ktpa) - 150,000t
    Grade range - 10-12g/t
    Estimated total recovery - 90-95%
    Estimated capital cost
    Mine - $15m
    Plant - $15m
    Estimated operational cost
    - A$/tonnes - $130- 160
    - A$/Oz - $500-600

    However there is one small problem - funding. With their $2 million current budget and only a $14m market cap, it seems like wishful thinking at best. One thing will have to happen in order for any of these dreams to be realised. Gold has to explode and gold juniors will need to increase about 400% from current levels. Very unlikely IMO but not out of the question.

    The amount of lies and rubbish spoken on other forum sites is quite incredible. In fact I'd go as far to say it's painful. I'm just glad they're not investing my money.
     
  8. Enoch

    Enoch

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    Well Micky,

    Seems someone is interested in this GEM big time.

    Been accumulating since 2006.

    Probably been down the mine and seen its potential first hand.
     
  9. So_Cynical

    So_Cynical The Contrarian Averager

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    The SP's been going sideways @ 12 > 13 cents since Christmas...prob one of the worst
    performing emerging goldies there is....hang on, at least there SP is doin better than CTO,s

    What is it with Victorian gold mines :dunno:
     
  10. Enoch

    Enoch

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    Yea been trading sideways.

    Mr Market wants to see some production.

    Reading the quarterley new mine plan is being implemented as we speak.

    Production in 2009.

    Should imagine that if they can prove the historical grades during production and that it can be mined on the cheap its off to the races.

    Just look at SLR for an idea of what could happen.
     
  11. So_Cynical

    So_Cynical The Contrarian Averager

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    With respect, SLR is producing in WA like most of the successful producers in Australia...MCO
    is mining in Victoria where very few successful modern producers are...LGL even downgraded
    there Ballarat operation, and that was the best of the Victorian bunch.

    Anyway...GL to the holders.
     
  12. saltyjones

    saltyjones saltyjones

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    no news & it has doubled in shareprice in the last quarter - july - sept. i reckon someone is accumulating this rare little goldie. stockpiling ore on the pad.....a processing plant on-site in the coming months......maybe toll-treat some ore initially????.....drilling to start on all the regional dykes i.e. Waverley dyke which could be a remarkably high grade gold deposit along the likes of the Walhalla long tunnel/cohens reef........personally, i reckon the sp is going to go nuts in the coming months when all the pieces are finally in place.

    disclaimer : dont buy the stock until a good days worth of study convinces you otherwise
     
  13. andy.

    andy.

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    I'm surprised there seems to be no interest in this stock considering the proximity to production and the current POG!

    I have been accumulating, and production startuop should renew the interst here IMO.

    GLTA
     
  14. rensionurne

    rensionurne

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    MCO Morning Star Gold

    Gold is swimming upstream in a down market. I think the proof in the pudding will be revealed over the next week or two. Will gold continue to make new highs?

    I think so because I think Harvey is right.
     
  15. qe2infinity

    qe2infinity

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    completely agree with andy, though the share price has clearly reflected renewed interest the past couple of months, ever since the Chillee buyer bought up $15M worth of shares @ 46 cents each.

    with production having started in dec 2010, there is immense upside potential for this little gold company, as no institutional investors have poured into the registry yet.

    go go mco! :)


    disclaimer: DYOR before investing into this stock.
     
  16. sinner

    sinner

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    Interesting performance on MCO recently.

    Nov-Dec period for most ASX gold stocks was a spike high that got sold hard. Morningstar looks a bit different.

    Yesterday both the gold index (XGD) and MCO made a nice pinbar formation, however what struck me as interesting is the index made a lower low while MCO did not.

    Definitely one to watch!
     

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  17. qe2infinity

    qe2infinity

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    Nice graph Sinner. An interesting situation here.
    MCO is still yet to see much interest with gold production reports coming so soon.
    Waiting for some positive announcements, go go MCO!


     
  18. Miner

    Miner

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    Is any one following this thread since Feb 2011 ?
    MCO price is downwards and thinly threaded inspite of a very high stake from the directors, who bought at 32 cents against current market price of 29 cents, excellent prospects and glowing outlook from Chairman.
    All is good but price, volume of trade and projected performance are not aligned :confused:

    Cheers
     
  19. Warpspeed

    Warpspeed

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    We are all still here.....

    The way I see it, MCO is a very small company with a huge task ahead of it, and patience is required.

    It is likely that some investors expected a sustained and continuous upward trajectory in share price, and have become disillusioned when other market segments are showing much more positive results.

    The entire financial system is about to fall flat on it's corrupt ugly face, and until it has, the precious metals mining sector is going to have a rather hard road to hoe.

    It is no secret that gold and silver prices are rigged, and very likely the mining shares are being shorted as well.

    IMHO a golden opportunity for accumulation by the ultra small investor with a wide time horizon.
     
  20. Miner

    Miner

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    Thanks on your commentary on MCO.
    BTW are you one of the business speech writers or an author - very good writing indeed and giving same time the scenario of mining market rigging and MCO future.
    I am hopeful on MCO or getting hopeful as the technical strenghts on this company tell me very good and need to have patience.

    I agree with your points .
    All it needs a recommendation from ASI or DD newsletter to get the steriod of price rise and fall :D
     
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