Thanks for that Lot of effort for no sentiment :) Lets see what...

First 44 Last

Share
Profile

Follow
pintohoo

28,128 Posts.

42

28/11/17

13:36

Post #: 29179592
Share

Originally posted by pangea ↑

Hmmm...where to start with your daily dose of reality?

GTE own 80% of Harris Find not 100% so bear this in mind when you chose to gamble your hard-earned coin. The ownership detail appears glossed-over in today's report possibly because of the sweetheart arrangement with the original owners of Harris Find who have close ties to GTE and are well-positioned to enjoy a bit of a risk-free ride with GTE's drilling budget.

Based upon new drilling results released today, an optimist might infer:

2,000m (strike) x

10m (true width) x

100m (open pit depth for 10m width) x

2 (density (oxide+saprock+bedrock)) =

4Mt @ ~1.0 - 1.2 g/t Au.

The industry average Market Cap per Resource Ounce is presently ~$40/oz. On a good day, GTE's "discovery" should translate to a ~$6M-$8M asset based upon 130-160 kozs of inferred low grade resources (albeit containing a higher-grade core of 80-100 kozs) and therefore the company's 80% share of the asset is worth approx $5M-$6M.... NOT $70M as promoted by the MD verbally at the AGM???!!!

Ridiculous to call this "large-scale" based on these results and investors should be cautious of the company's historic tendency towards hyperbole. The goldfields are littered with small, unmined, 100-200 koz deposits with insufficient grade or tonnes to warrant a standalone mining operation.

Encouragingly, there appears to be some narrow, "small-scale" higher grade material (2m true width) forming ~20% of the total volume with better grades of 4-5 g/t that could be selectively mined to a slightly lesser depth.

Hard to imagine the disappointment of those who bought in today at >3cps valuing the company at a market capex of $24M when the full value of the prospect is clarified by more drilling. All the drill metres and award-winning geos in the world are unlikely to increase resources at Harris Find given that the area is entirely subcropping, well-defined by geochem and the old timers who have picked away at this spot for +100 years probably haven't missed the mother lode.

P

PS Geologically, the host stratigraphy is nothing like the dolerite at Jundee/Bronzewing/Wiluna/Golden Mile/St Ives so be wary of the uneducated comparison made by knowbs.

Expand

Thanks for that

Lot of effort for no sentiment

Lets see what the next holes bring first.

Then we shall see as they get a handle on the structure.

Of course by then, if they get some more hits - you won’t be able to buy it near these prices.

That’s the punt.

Will they get some more hits?

Highly likely if they go down on the anomaly

The evidence from today gives it a high chance of that.

GTE Price at posting: 2.8¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

LYN

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

BNL

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

AUN

Cyclone signs MOU with Vale for development of Iron Bear play

EDE

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

RBL

Recce scores $6.75M R&D rebate

HUM

Auric sniffs gold up to 12.1g/t through drilling at Spargoville prospects

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

TYX

Tyranna wraps up lithium drilling in Angola; says looking for other projects with different metals

AN1

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

There are more pages in this discussion • 86 more messages in this thread...

First 44 Last

Add GTE (ASX) to my watchlist

(20min delay)
Last 2.8¢		Change 0.000(0.00%)		Mkt cap ! $14.35M

Open	High	Low	Value	Volume
2.8¢	2.9¢	2.8¢	$13.07K	465.9K

Buyers (Bids)

No.	Vol.	Price($)
1	186243	2.7¢

Sellers (Offers)

Price($)	Vol.	No.
3.0¢	19948	1

View Market Depth

No.	Vol.	Price($)
2	3055535	0.004
22	13685797	0.003
6	5650000	0.002
9	8500499	0.001
0	0	0.000

Price($)	Vol.	No.
0.005	1660000	4
0.006	1000000	1
0.007	502750	2
0.008	750000	1
0.009	708333	2

Last trade - 15.57pm 15/11/2024 (20 minute delay)

GTE (ASX) Chart

Thanks for that Lot of effort for no sentiment :) Lets see what...

Top Stories

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

Cyclone signs MOU with Vale for development of Iron Bear play

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

Recce scores $6.75M R&D rebate

Auric sniffs gold up to 12.1g/t through drilling at Spargoville prospects

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Tyranna wraps up lithium drilling in Angola; says looking for other projects with different metals

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

Buyers (Bids)

Sellers (Offers)