anyone remember kaitie?

Morning all,

Just thought some nostalgia would be nice, recognising a nice person who, it seems, was ahead of her time.

She sparked my interest in GTM way back then with a HC post.

A lot of the detail she gave has changed since then but, FWIW, here 'tis.

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Topic: A good speculative miner??? (1 of 2, Read 975 times)
Conf: ASX
From: kaitie
Date: 24/10/2000 17:08

Hi folks,

Here, I think is a great little speculative miner stock.

No, they are definitely not going high tech.
They are not in africa.
Not in india,
Not in roumania,
Not in fiji,
Not in the solomons
Not in PNG
Not in indonesia
Not into platinum, magnesium, diamonds, oil, steel
Not into environmental cleanups
Not into water
Not into biotechnology
Not into internet home gateways
Not into wap
Not into adsl, cable or fibre optic rollouts
Not into guns
And not one of jolly's 5

They are stuck in oz and right near the middle of oz at Tennant Creek.
A simple straight forward easy to get your head around company drilling for copper and gold in an area where copper and gold occur.

Who are they?
Yep, Giants Reef Mining Limited (GTM)
Listed on the ASX in 1993

Shares on issue are:-

GTM FPOs 248M
market cap $10.91M
year high 15 cents
year low 3.5 cents
current price 4.4 cents

GTMO (options issued 14 August 2000, expire 30 June 2004, exercise price 10 cents) 69.9M
market cap $1.40M
year high 2.6 cents
year low 1.6 cents
current 2 cents

GTMOA (options issued 24 June 1997, expire 3 July 2001, exercise price 20 cents) 65.8M
market cap $0.39M
year high 6 cents
year low 0.5 cent
current 0.6 cent

Total market cap at close of trade today (GTM+GTMO+GTMOA) = $12.70M

Summary of activities

Firstly, let me tell you a bit about the Tennant Creek Mineral Field where they are working.......

Since the first mine in 1930's, the TCMF has hosted some of Australia's highest grade and lowest cash cost orebodies. Mines like Warrego, Peko, Juno, White Devil, Gecko, TC8 and Nobles Nob. The field has produced 5.5M ounces of gold and 470K tonnes of copper plus minor quantities of silver, bismuth, selenium, zinc and cobalt with a total worth (today's Aus$$$) of $5B.

Now, about GTM.......

GTM holds Exploration Licences, or applications for, over 60% of the Tennant Creek Mineral Field and last month signed an indigenous land use agreement with the native title holders.

GTM recently had a rights issue at 4 cents to raise $2.3 M, At September 30th GTM had $2.3M cash plus securities worth $40,000 and no debt.

GTM is doing mining feasibility studies and further exploration on Edna Beryl, Billy Boy and Estralita East gold and copper-gold deposits which they have already identified and are planning to reconstruct the old TC8 mill to process ore from these and any other discoveries.

In august, GTM started an 18 month drilling program to check out another 24 anomalies with gold-copper potential.

The first report on this drilling, where they drilled a hole into each of 3 anomalies, showed some pretty good results.

The drilling GTM are doing at the moment is off their own bat but they also have some heavy JV partners on board.- Billiton Exploration Australia Pty Ltd and BHP Minerals - with GTM as manager and the partners funding exploration further out from Tennant Creek looking for large base metal deposits.

Directors of GTM are:-

Bill Duchatel, Chairman (also director of Ashton Mining - you can see a picture of him and read his qualifications on Ashton's website http://www.ashton.net.au/corp/directors.html#duchatel

Nick Byrne, Managing Director (major shareholder and co-founder of GTM)

Geoff Hudson, Non-Executive Director (ex WMC and ex Australian Mineral Foundation here in Adelaide)

For anyone who's interested, Giants Reef Mining Limited have an excellent website at

http://www.giantsreef.com.au/index.html

Lots of detail, great maps.
Well worth reading.
Only you'll have to set aside a bit of time to do so.
Can't just skim through it.

And after you've read the website, if you don't feel just a little bit of that speculative excitement then I don't know what................

Can't say much about the charts because I'd only be speaking rubbish but looks to me that there is a lot of support for GTM around the 4 cent level and volumes have picked up just a little bit lately and any good news could send them up from here.

Also interesting is the fact that GTM just issued 199,100 shares at 6.8cps as part of someone's salary package. Which is a lot more than we have to pay for them at the moment.

Well that's all I've got for now folks. Hope I got all the facts and figures right and presented them to your satisfaction.


cheers
kaitie
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Merry Xmas all.

bye.dub