Forum Archive Index - February 2002

["andrew cottingham" <arco@adinfinitum.co.nz>]

If you still fancy gold, long or short term, GINDALBIE GOLD NL has  pierced resistance this morning on VERY HIGH volume (2.1 million in the first hour - 500 day average 130,000)....I bought some last week.

I can post a chart if anyone is interested. As usual I make no promises how far this may go (up, sideways or down !). A close tonight above the resistance would be a good sign-al.

For fundamentalists - I copied this off their web-site.

History

The discovery of the high grade underground Two Boys Gold Mine in 1996 lead to the Company making over $6.6 million in profits from the underground mining operations within 18 months of the discovery. After completion of the Two Boys Gold Mine the Company entered into a strategic alliance with BHP in the Paterson Province north of the Telfer mine and was involved in the discovery of the Magnum copper/gold.

In 1999 the Company purchased the advanced Minjar Gold Project from Normandy Exploration Ltd for $2.5M and entered into an agreement for the sale of its interests in the Anketell Project.

Planned Key Activities for 2001-2002

Growth of the Company's core gold business, by:

• Commencement of production at the rate of 50,000 ounces per annum at Minjar in December 2001
• Continued development of value adding activities including investigation of:
  • Upgrading of resource models at Winddine Well and Keronima
  • Purchase or joint venture of advanced gold resources in the South Murchison for trucking and treatment to the Minjar treatment facility
  • Ongoing evaluation of advanced exploration gold targets at Minjar including;

    Austin	14m @ 3.14 g/t Au
    Westland	9m @ 2.3 g/t Au (granted M/L)
    Keronima	11m @ 2.8 g/t Au (granted M/L)
    Kerane	7m @ 2.2 g/t Au (granted M/L)
    Lexie	9m @ 4.37 g/t Au 3m @ 12.52 g/t Au
    Enchanted	8m @ 6.44 g/t Au

  • Generation of new exploration projects targets at Minjar

The identification and assessment of:

• Corporate merger and acquisition targets
• Other business development opportunities

Principal Assetts

Mineral Resources

• A combined gold resource at Minjar in all categories of 5,490,000 tonnes @ 2.5g/t gold containing 440,000 oz insitu at Minjar
• Trench tungsten resources of 84,000,000 tonnes @ 0.13% WO₃
• Hill tungsten resource of 200,000 - 380,000 tonnes at 0.6% WO₃

Mineral Reserves

• · 140,000 ounces gold at Minjar

Exploration Area's

• 1200km² of ground (100% owned and joint venture) surrounding the Minjar Gold Project with numerous advanced targets.
• A number of 100% owned tenements in the East Kimberly with potential for nickel.
• Involvement in nearly 2,000km² of tenements in the Paterson province in association with Croesus Mining NL for copper/gold.
• The Gindalbie Regional Exploration joint ventures with Gutnick Resources NL and Anglo Gold Australasia Ltd for gold 80km east of Kalgoorlie over an area in excess of 400km² with potential for nickel and gold.
• A number of 100% owned gold exploration projects at Youanmi in the South Murchison

For more info go here .. http://www.gindalbie.com.au/

Andrew

 

Please Note:

All share trading involves risk and nothing in this e-mail is to be construed as an invitation or recommendation to trade or invest in GBG.