I translated a german research report with the altavista babelfish translation.
Moto Goldmines increases project portion to 68 per cent "Institutionals in such a way specified" - thus professional investors and funds - buys Moto shares. That results from the analysis of the share migration in the past half year. In August 2004 the Top held 50 shareholders for 50 per cent of the portions, in November 2004 had the Top 50 already 62 per cent and today to belong the Top 50 already 72 per cent of the society.
Large shareholders to it-bought thus shares, while small shareholders - particularly in Australia - delivered shares. The German market deviates from this picture. There 24 million Moto shares were appropriate, today are it for 37 million shares in December. If one looks one and a half year back, the development becomes still clearer: At that time the Top held 20 shareholders 8 million shares. One can say thus that the Moto share of "Widely hero" developed to "Rarely hero".
There is a simple good reason for the interest that Institutions: Moto Goldmines, with which Klaus Peter Eckhof supplies presidents at the point, which promises it. Thus in the record time of only one and a half years from one hardly for promisingly judged project in the Congo exploration story considered world-wide became. In November 2004 - after hardly nine months drilling activity - Moto could report 4.3 million ounces gold resources. Golden star Resources, a Mid Size Goldproduzent (174,000 ounces in 2003), acquired 10 per cent of the Moto portions and to the project thereby further "Credibility" gave. The Moto share rose in the meantime from 0.05 A-dollar to 0.45 A-dollar. Current Research reports see fair the VALUE already with 0.70 A-dollar. But which is still more important: Moto Goldmines had approximately 11 million A-dollar in cash and can bore in the same aggressive speed further as in the past year - four twisting Rigs are in the meantime on the project. And the year begins already well.
In January the society could again of extraordinary Drill sequences with Mengu Hills report, where according to message from 21 January a new attractive open pit target was discovered. The best drilling results were with 40 meters with 8,95 g/t starting from 20 meters of depth as well as 24 meters with 7,57 g/t starting from 36 meters of depth. The expansion of mineralizing is specified on more than 150 meters in the length and on over 200 meters to the depth. Boreholes MRC 128 and MRC 129 were meters mineralized on a length of more than 50 and ended with 60 meters in mineralized rock. The drillings on Mengu Hills and on all remaining targets without interruption are resumed. Shortly is to be counted on the evaluation of further results with Mengu Hills. Klaus hitting a corner yard is optimistic that alone this part of the project could bring it on more than one million to ounces resources.
Moto Goldmines has itself to increase to the goal set until March this yearly resources from so far 4.3 million ounces on 5 to 6 million ounces resources. At the same time as large a part of well-known resources as possible is by additional (dia. one t) drillings in their priority from inferred Resources to "indicated Resources" or "measured Resources" to be qualified.
The results of this qualification of resources flow directly into since September 2004 the Pre feasibility study begun. This preliminary stage to the feasibility study should be final in the late summer this yearly. In the last quarter 2005 Klaus hitting a corner yard wants to increase the resources inventory on 8 million ounces gold.
New acquisitions - consolidation
Moto Goldmines increased the portion of the project from 60 per cent parallel to the successful drillings also to 68,5 per cent. The portions are distributed under the joint venture partners Moto 68.5 per cent, Orgaman 11.5 per cent and Okimo 20 per cent. Orgaman is a Belgian led handels and transport enterprise in the Congo, Okimo is the mining industry agency of the Congolese state. The same distributor was applied to three further projects, which Moto took additionally in the project Portfolio. 2.2 square kilometers concern the large Agbarabo area in direct proximity of the past drillings. The Agbarabo mine was operated until 1972 in the open mining. 800 meters far away lies the Explorationstelle Kombokolo, which was already opened 1960 by Belgian engineers. In addition the 200 square kilometers large "seaweed old folder" was acquired, which rounds the concession area off in the northwest. For the purchase 100,000 US dollar was paid as well as two million shares and one million options at 0,28 cents were spent. Orgaman received mediator services for its again 1.5 million options at 0,28 cents.
The Agbarabo mine is enough in the open mining up to 300 meters depth and historically 600,000 ounces gold with gold content of on the average 40 gram per ton produced. Since the mine 1982 was flooded, there are at present no resources. Moto plans to down-bring explorationsbohrungen to the mine in direct proximity, likewise with the 800 meters removed Kombokolo Explorationsstelle from the 60's.
Listing to the TSX for April 2005 planned
Moto prepares the change to the Toronto stick Exchange and thereby the stock exchange coat of King Products Inc. will use. Those Society lies approximately in the schedule, so that from today's view a listing is possible in the first April week. The revision of the resources estimation after the strict Canadian standard of national instrument 43-101, necessary for the stock exchange note, is already final according to Klaus hitting a corner yard, so that the society fulfills the formal conditions for a note at the "Main board" to the stock exchange in Toronto. For German shareholders, who acquired your shares in the freiverkehr at the stock exchange Frankfurt, this change does not have a meaning. However the management expects that the stock exchange conversions in the share become again clearly larger.
Invitation to the BMO Nesbitt Burns conference
The rising interest of the institutions in Moto Goldmines still documents itself in various other way. Klaus hitting a corner yard confirmed that he is invited as a representative of the enterprise on the annual BMO Nesbitt Burns conference on 24./25. February into Tampa, Florida. This conference is otherwise exclusively large companies and producing societies reserved. Since a geologist of Nesbitt Burns already visited the Moto project in November yearly passed, it may be assumed that Nesbitt Burns interest has to take up the Coverage for Moto if the society is listed as planned at the Toronto stick Exchange. With Haywood Securities has itself already another considerable Canadian broker house with Moto takes part.
original source: http://www.cortalconsors.de/research/magazin/archive/200502/_newsData/ek20050209_271083/
CortalConsors is an german online broker!
Cheers
Hint: TGS! Watch it! IMHO it will be the same as in MTO!
