Stock: African Queen Mines

TSX:AQ

www.africanqueenmines.com

African Queen Mines was spun out from Pan African Mining Corp. (A company hold mining licences in Africa and Madagascar) after it was sold to a large Thai mining company.

African Queen Mines assets include the African continent properties originally owned by Pan African Mining Corp. That is the Botswana and Namibia diamond project and the Mozambique gold project.

In 2008 African Queen Mines started trading, from this time they acquired 3 new gold projects and are currently working to identify there potential.

Projects.

Mozambique

The King Solomon project in Mozambique is attracting a lot of attention from the majors! From the first round of drilling results show an average of between 1 - 2% copper and 1 - 1.63 gpt gold.

The thing that makes this project unique, is the fact that it covers a large area and includes 4 identified structures, each zone is about 4km by 2km giving strong extensive surface gold anomalies. It appears different geological event produced these anomalies,two showing high gold content and the others are more copper and poly-metallic. Any one of these is currently a target to build a mine assuming the continuity and grade that early results show

The model of operation is to develop these properties to a point where either one, some or all of these properties are to be sold to majors, so as for Pan African Mines a generated profit is returned to the shareholder (Just ask Pan African share holders if they are happy)

Ghana

The Noyem gold project, has a historic resource of just over 1million oz of just over 6gpt stuff. This is current near surface mineralisation. This project has some political issues currently, but talks are ongoing with the local community concerning mining rights. African Queen are speaking to local chiefs to get over these problems.

Kenya

On the border bordering Tanzanians north western corner near the lake Victoria green-stone belt (host to some very big mines). African Queen have entered into a joint venture with a Kenyan company to develop the Kanango Goldfields. African Queen are currently planning a diamond drill program and have filed applications for 4000 square km of ground where this trend is though to extend.

Botswana / Namibia

Currently found all the right signs including circular anomalies, but nothing found as of yet. The team of geologist include some of the best in there field, despite this African Queen see this project very much as the icing on the cake. Mind you I don’t like cake without icing...


So African Queen have two projects with potential to host world class deposits in active development, proven success in developing and selling well defined economic deposits. They have good access to capital and are progressing at a fast past towards some good resources.

As Always DYOR

Stock: Gold Bullion Devleopment Corp

goldbulliondevelopmentcorp.com
TSX:GBB

Gold bullion development corp. is a junior miner that is involved in developing and rehabilitating old producing mines.

Projects

Quebec

The land package, 100% owned in Quebec, called the Granada Gold Property is located on the Cadillac trend which itself is host to many large deposits.

The long bar zone is one of the host zones identified and over the last 3 years Gold bullion development corp have performed bulk samples of about 30000 tonnes to evaluate grade (1.62 gpt).

Gold Bullion Devleopment Corp then worked on compiling the current information about the land package to build a mineralisation model. This model was tested with 2400 meters of drilling, giving a known structure of 1.1km long and 300 meters wide open at all ends.

Currently the zone is host to an estimated 2.4 million ounces of gold, not 43-101 compliant but known to be a conservative. This estimate was calculated through 1 million tonnes of ore sampling, even sampling the waste pile to check the recovery rate (about 90% from tests).

The future work on this resource entails working on extending the structure north, to the unexplored section of the Cadillac trend, then to the east. From this point Gold Bullion Devleopment Corp can prove up the resource via infill drilling with a 20000 meter drilling campaign.

Initially an open pit project it will extended to an underground operation if drilling at depth proves to show mineralisation. With the potential of at depth mineralisation the number of ounces could increase significantly, as from the data available this deposit is showing higher grades at depth.

This mine does not even cover 1% of the land package owned by Gold Bullion Devleopment Corp. (4,900 hectares) and the estimated recovery price per ounce is currently $320 per ounce.

Again DYOR and keep watching.

Stock: Andover Ventures

TSX:AOX
http://www.andoverventures.com

Andover Ventures are a precious / base metal exploration and development company, with headquarters in Vancouver, British Columbia, Canada. The have very experienced team, who have built large companies in the past and hold a large stake. Gordon Blankstein (Chairman and CEO) and his family have an interest of around $15 million and management in general own about 50% of the outstanding shares, so aligning management interests with shareholders. Andover Resources only looks for politically safe environments for mines, specifically mining friendly states of America.


Projects


1) The Utah project is a large land package of around 16000 acres with Rio Tinto funding the exploration.
In the Utah District there are 23 old producing mines (these have produced - 2.3 million oz, 2.2 billion pounds of lead, 250 million pounds of copper, 250 million oz silver) along with a large percentage unexplored land.


The land was Acquired from company via a forced sale because of environmental damage caused in the past. Andover bought the land along with the responsibility to clean up the mess on around 100 acres of this land.


After the clean up the fine was reduced through the courts from an initial $60million to $225 thousand a year for 5 years.

The approach on this land package is to bring back into production the Trixie Mine with its associated mill (Burgin Mill), so the company has cash-flow. Andover Resources is currently hiring mine/mill workers activate this plan. Initial production will involve working with material stockpiled on surface (45 hundred oz of gold estimated) while the company works on rehabilitating the Trixie Mine with the goal of processing 200-250 tonnes a day. From this Andover hope to produce about 10,000 oz of gold a year at a fairly low cost.


Then next the Burgin mine a relatively high grade mine will be focused on. As an aside and to generate further cash-flow, a limestone mountain on the companies property is being exploited

2) The Alaska District is another large land holding of about 18000 acres which currently doesn't have road access  but plans are being discussed. This huge asset open in all directions and depth and the plan is build up the asset over the years as the road access is sorted.

To sum up, the managment has proved success and a lot of skin in the game. Andover is already found resources but are also exploring for more. The are activley involved in major works on there ground proving resources with a major providing the funding for exploration. Ore in the ground has avalue about £10 billion but as we know, that mean nothing untill sconomic and feasability studies are complete, but I am optimistic.

Stock: Magellan Minerals Ltd

TSE:MNM

http://www.magellanminerals.com/

http://twitter.com/MagellanMineral

Megellan Minerals is a mineral junior focused on the state of Para in northern Brazil. Founded as a private company initially in 2005 and going public in 2008, the company has interests in a number of projects some containing large near surface mineralisation. 

Still An early stage play but at the site of one of the largest gold rushes ever (from 1978 - 1995) the deposit looks exciting. With most of the easy alluvial gold gone (25-30million ounces) to target is now the source rock from which this gold was released from. 

After good drill results a very good land position and size and a wealth of experience in the region (15 years)

the projects look good enough for Newmont Mining(4%) and Kinross Gold(2%) to be significant shareholders although nowhere near having control. As a side note it is very rare for these big boys to take a straight investment in a company without an interest in the companies projects so they must see something good or very sure.

At one stage they were looking to buy and work a small open pit operation with suspected good mineralisation to generate cashflow for exploration. As part of due dillagence however they discovered that only parts of the quarts veins were mineralised so decided not to proceed. This upset the market but even though it was a good decision.

They have two advanced projects, Coringa with an initial resource of 37000 troy oz of gold of about 9gpt stuff, with the main vein currently about 7km long (open at both ends). The current strike length is about 10km and Alan Carter says "This could easily double".  The other project Cuiu Cuiu, where about 8 thousand soil samples have been taken showing very large gold anomaly about 12km long. 5 separate anomalies have been identified within this structure. Alan Carter says this has an "excellent potential to host multiple ore bodies". From drilling such results as 220meters at 2.3gpt, and 17meters at 13gpt.

Both deposits are looking to be world class open pit operations and I will be watching this one very closely.

Stock: Lydian International

TSX:LYD
lydianinternational.co.uk/

Lydian International are developing Amulsar, a gold project in Armenia discovered from the window of a car on the second day on what was originally called the silk road.


Their gold discovery after one season of drilling has amounted to one million ounce oxide inferred resource (NI-43101 compliant) open in all directions with the last hole showing 229m 1gpt! This improved to a 1.4 million ounce oxide Inferred Resource (again NI-43101 compliant), after the second season of drilling. This infers a multimillion ounce potential for the Amulsar project with only 25% being drill tested so far, and 94-97 percent gold recoveries from heap leach tests.


They have a 25 year mining license granted them three years after discovery and infrastructure on which to base a production mine. (high-tension power lines, gas and water pipe-lines).

One of the major shareholders is the International Finance Corporation (world Bank Group) and the European Bank of Reconstruction and Development (EBRD) and Newmont mining

IFC:15.56%
Newmont:9.30%
EBRD:6.88%

With a current market cap of less than 200million and 100million shares its a tightly head stock with about 40% belonging to insiders. Definitely one to watch!