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clock Created with Sketch. 01/12/14
09:34
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Originally posted by numbersgame
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Hi guys, I would like to apologise first hand for once again mentioning the desperate find for another iocgu deposit however I would just like to make a comparison between Apollo minerals and rex minerals, both the companies had listed on the asx in 2007 and both the companies hold tenements in the Gawler craton region. Both the companies started off by looking for the next big iron oxide, copper, gold and uranium find. As we all know rex minerals had started drilling early on and made a large copper discovery whereas Apollo minerals were solely focussed on iron in the past 3-4 years and the interest has only just shifted to other commodities. Rex minerals had discovered significant amounts of copper, gold and uranium within their tenements from early on and they remained consistent and focussed with the overall indication that copper is the main commodity in the lead to a massive discovery. Now Apollo minerals has intersected at 4 m/ 5 grams of gold which is a good enough indication that gold is present at near surface. If you compare recent discoveries by Regis resources and sandfire resources they both had roughly about 5-6 grams of gold at 4 metres and Regis resources had gold in multiple holes as well. Now only 2 holes were drilled at mars aurora and the first one had intersected gold at near surface this should have moved the share price a little higher in my opinion however only one hole had intersected gold and the other had red potassium rocks which may other wise be called a dud hole. Now moving onto bundi, they have discovered titanium, phosphate and iron oxide which is indicative of other types of minerals being present. Once again this failed to excite share holders as nowadays investors are more keen on seeing a large gold, zinc, nickel and copper discovery rather than titanium and phosphate. The phosphate may be useful once the agricultural boom starts to shift the Australian economy into a positive direction after such a big mining boom however there is still time for that. The 3 results from bundi so far apart from failing to identify the em conductor has been somewhat positive however we are all in the anticipation of something more and something big. I think for this reason Dominic and the team got excited about the last drill hole which had intersected a new iogcu system hence the positive announcement as they knew the other holes had other mineral types which may not appeal as of the moment. I believe they have encountered iron oxide, uranium and gold and maybe low levels of copper from this hole. Or it may just be gold, uranium and copper. I hope this last hole provides a detailed information on where this company needs to progress from here on. Now for the other tenement commonwealth hill not much has happened since hpx have come on board. Our hope for the coming year is dependent on mars aurora and eagle hawk. The comparison between rex minerals and Apollo has been made here due to the tough nature of exploring for iocgu deposits and that they may not encounter these 4 main minerals and may stumble upon other mineral types. I could not make a comparison between prominent hill and eagle hawk as not much literature is available on the prominent hill discovery as it was an independent discovery. This is just my 2 cents worth lol hopefully soon Apollo breaks the 2 cent mark.
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Numbers...people will be scratching their heads wondering why they didn't buy at these levels with all the signs pointing to a big find in the next round of drilling.
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