Become a member today!
Results 1 to 11 of 11
  1. #1
    Floor Trader HunkyDory's Avatar
    Join Date
    Dec 2009
    Location
    Scotland
    Posts
    958
    Rep Power
    131815

    Default Triple Plate Junction - TPJ

    4.25p
    Shares in issue -334,123,383
    Market Cap -£14 million


    4 projects in Papua New Guinea.
    JV partners are - Newmont, Barrick, Gold Anomaly, Newcrest





    Also have a property in Vietnam, but it looks pretty useless to me....maybe look to sell or let someone else pay for the drilling in JV


    Raised £2.2 million today at 4.5p
    Directors bought into it in a small way, around £5,000 each
    Worth noting they also have millions of options exercisable up to 2020 at 1p, and warrants at 2.5p


    Gold Anomaly are drilling just now but theres nothing much to get too excited about, unless theres something more exciting at depth on the 1000m drill.

    The drill results which should move the price (if there good) is the Newmont JV, where initial drilling was started in July-
    FE Investegate |Triple Plate Junctn Announcements | Triple Plate Junctn: Drilling Commences at Hide's Creek




    Newmont cannot dilute TPJ below 25% while exploring.
    License is next door to Harmony's huge Wafi project (estimated 40 million oz Gold/ 15million tons copper)







    Held these for a while from the run up from 2p to 7p earlier in the year, have been waiting to see where they would raise new cash. Not too bad a price in today's markets too. Downside is your at the mercy of JV partners timescales etc

    Newmont did make a cheeky bid for them at 4p last year but was obviously rejected. They are a major shareholder and have taken part in the placing today.
    There not dirt cheap but any kind of good results could easily send these over 10p+ imo.


    [ame=http://www.youtube.com/watch?v=072ZunzoQC0]80th Minesite Forum - Triple Plate Junction Plc - Fraser McGee & Chris Goss - 23/06/2011 - YouTube[/ame]
    Last edited by HunkyDory; September 27th, 2011 at 08:26 PM.

  2. #2
    Super-Pimp Pimpinator's Avatar
    Join Date
    Aug 2009
    Location
    Teesside
    Posts
    2,539
    Rep Power
    132036

    Default Re: Triple Plate Junction - TPJ

    10 October 2011

    Triple Plate Junction Plc
    ("TPJ" or the "Company")

    Project Update - Crater Mountain

    On 10 October 2011, Gold Anomaly Limited (ASX: GOA), the [COLOR=blue! important][COLOR=blue! important]Company's[/COLOR][/COLOR] joint venture partner in the Crater Mountain project, announced an update including results for drill hole NEV024, which suggests the potential existence of a copper bearing porphyry intrusive at depth.

    That announcement is reproduced in full below. TPJ holds an 18.9% interest in the Crater Mountain project.

    For further information, please contact:

    Triple Plate Junction Plc +44 (0) 7775 693 237
    Fraser McGee

    Daniel Stewart & Company plc +44 (0) 20 7776 6550
    Antony Legge / Oliver Rigby

    [COLOR=blue! important][COLOR=blue! important]Financial[/COLOR][/COLOR] Dynamics +44 (0) 20 7831 3113
    Ben Brewerton / Oliver Winters

    This announcement is also available on the Company's web site: www.tpjunction.com


    10th October 2011
    Company Announcements Office
    Australian Securities [COLOR=blue! important][COLOR=blue! important]Exchange[/COLOR][/COLOR]

    CRATER MOUNTAIN PROJECT UPDATE, PNG
    Drilling intersects highly anomalous gold, silver and base metal mineralisation

    Gold Anomaly (ASX: GOA) is pleased to provide an update on the Company's flagship Crater Mountain gold project in Papua New Guinea including results for drill hole NEV024.

    The NEV024 hole was designed to test the mineralised zone below NEV018 and NEV019 which intersected 286 metres at 0.82 g/t Au and 215 metres at 1.46 g/t Au respectively. Further drill holes will explore for the possible deeper feeder zone that is thought responsible for the widespread mineralisation and alteration seen in previous drilling.

    NEV024 reached a depth of 642 metres, approximately 150 metres below NEV018 (previously the deepest hole in the area), and intersected vein mineralisation associated with gold, silver and base metal mineralisation, which is a different style of mineralisation to that observed in NEV018 and NEV019 and suggests the potential existence of a copper bearing porphyry intrusive at depth.

    NEV024 intersected a wide envelope of gold mineralisation at an average grade of 0.47 g/t over 160 metres from 272 metres, thought to be part of the main mixing zone mineralisation, and a series of gold-bearing base metal veins which include the highest base metal concentrations reported so far at Nevera prospect. These veins are thought to be signs of a deeper feeder zone associated with a major intrusive. Key intercepts include:

    Table 1 - NEV024 results for gold

    Sample length (metres)
    Gold grade (g/t)
    Intersection (depth, metres)
    6
    0.52
    14-20
    4
    0.54
    116-120
    50
    0.59
    272-322
    26
    0.32
    342-368
    6
    2.28
    380-386
    16
    0.95
    416-432

    Table 2 - NEV024 results for gold and base metal mineralisation

    Sample length (metres)
    Gold grade (g/t)
    Silver grade (g/t)
    Copper grade (%)
    Lead grade (%)
    Zinc grade (%)
    Intersection (depth, metres)
    8*
    1.77
    30.12
    0.22
    0.17
    0.25
    292-300
    2
    4.02
    41.2
    0.06
    1.37
    2.13
    382-384
    6**
    0.35
    45.8
    0.15
    0.23
    0.28
    440-446
    2
    0.19
    10.3
    0.08
    0.31
    0.55
    484-486
    2
    0.18
    12.4
    0.06
    0.42
    0.42
    508-510
    2
    0.16
    9.7
    0.02
    0.30
    1.15
    544-546
    *includes 2m @ 2.68g/t Au, 33.3g/t Ag, 0.66% Cu, 0.39% Pb, 0.87% Zn
    **includes 2m @ 0.31g/t Au, 71.0g/t Ag, 0.3% Cu, 0.29% Pb, 0.30% Zn



    The company commenced a 10,000-metre drilling program in July 2011 to further define the extent of mineralisation at Crater Mountain's Nevera prospect. Drill holes were designed to test below the main zone, which is approximately 600 metres long and 150 metres wide and open along strike (NEV024 and NEV027), and to test the strike extent to the main zone (NEV025 and 028).

    A plan showing drilling at the Nevera prospect is shown in Figure 1 and a cross section in Figure 2. Hole parameters are included in Table 1 at the end of this release.

    Anomalous copper mineralisation was intersected in chalcopyrite bearing veins (see plate 1) from a down hole depth of 290 metres. Several narrow zones of copper mineralisation were intersected with some of the highest copper intercepts recorded to date in the Nevera prospect. Results include:

    NEV024 results for copper
    Sample length (metres)
    Copper grade (%)
    Intersection (depth, metres)
    8
    0.29
    288-296*
    4
    0.21
    440-444
    4
    0.17
    564-568
    *includes 2m @ 0.66% Cu

    More drilling results are anticipated in October 2011. Samples from hole NEV025 are en-route to the laboratory at Townsville, while samples from NEV026 are undergoing sample preparation in Lae. Holes NEV027 and NEV028 are currently at depths of 421 metres and 455 metres respectively. NEV027 has a planned depth of more than 1,000 metres and is intended to test for mineralisation at depth beneath holes NEV018, 019 and 024, while NEV028 and the proposed hole NEV029 are step out holes from NEV021 designed to test the strike extent of the main zone to the southwest.

    Further regional exploration at Crater Mountain will begin in late October at the Nimi prospect and Awanita prospect, and a regional reconnaissance program has been completed at the Bogia prospect in Madang Province with initial results expected in late October.

    Nevera Prospect, drill hole parameters

    Hole No
    Easting
    Northing
    Dip
    RL (m)
    Azim (magnetic)
    Depth
    NEV024
    288,767
    9,281,181
    -55
    1,961
    245
    642.4
    NEV025
    288,079
    9,280,957
    -55
    2,122
    135
    612.6
    NEV026
    287,982
    9,281,090
    -45
    2,050
    145
    306.0
    All drill hole surveys completed using a DGPS











    All main zone drill results

    Hole*
    Depth
    Intercept length
    Grade (COG 0.2g/t)
    NEV
    From m
    To m
    Length m
    Au grade g/t
    2
    201
    340
    139
    1.58
    5
    94
    251
    157
    1.36
    8
    26
    392
    366
    0.88
    Inc:
    200
    378
    178
    1.3
    10
    301
    441
    140.6
    0.57
    11
    144
    349
    205
    0.86
    18
    20
    306
    286
    0.82
    Inc:
    224
    306
    82
    1.62
    19
    181
    396
    215
    1.46
    21
    198
    442
    244
    0.52
    24*
    272
    432
    160
    0.47
    Results consistent with historic long intercepts at Nevera
    § (Using a 0.20 g/t Au COG with 12m of internal dilution)
    Triple Plate Junctn: Project Update - Crater Mountain | Company Announcements | Moneyam

    Trust your own instinct. Your mistakes might as well be your own, instead of someone else's.

  3. #3
    Floor Trader HunkyDory's Avatar
    Join Date
    Dec 2009
    Location
    Scotland
    Posts
    958
    Rep Power
    131815

    Default Re: Triple Plate Junction - TPJ

    Nothing new here but worth a read to highlight again the speculative potential



    Triple Plate Junction primed for an exciting and potentially transformational three months

    The next three months are probably the most important in the short history of Papua New Guinea-focused gold explorer Triple Plate Junction (LON:TPJ).
    Results from its Crater Mountain project last week gave us a flavour of what’s on the horizon, and bumped the share price up around 12 per cent. The results from the first deep drill are expected next month.
    However, the big bang will come when we receive drill updates from the joint ventures with industry giants Newmont (NYSE:NEM) and Newcrest (ASX:NCM), as well as an update on the plans of another big name partner, Barrick Gold (TSE:ABX).
    "The market and our shareholders have been waiting for this for years,” says Triple Plate chief executive Fraser McGee, referring to what he hopes will be a steady stream of positive news.
    McGee worked for the RAB Special Situations Fund before being recruited by TPJ. So he knows the scale of the opportunity.
    But he is also aware of how the company is viewed after the previous management, led by Ian Gowrie-Smith, wasted money and time on fruitless projects in Zambia.
    However, he is making progress changing perceptions. The recent City fundraiser is a case in point.
    It delivered £2.2 million of new cash at a nine per cent premium to the market price on the day, and the backing of a number of serious investors who can see the long term potential of Triple Plate.
    That potential lies in the company's four projects in PNG – Morobe, Wamum, Manus Island and Crater Mountain.
    The prospectivity of the Morobe project is underlined by the fact that Newmont completed phase-one of its earn-in some two years ahead of schedule, spending US$6 million in the process.
    This gave the American mining giant a 51 per cent stake, which rises to 70 per cent once it completes a phase -two at a cost of a further US$9 million.
    This is expected to be completed this quarter - some three years ahead of the “back-stop date”.
    The excitement of Morobe and Wamum is their proximity to the Wafi-Golpu, the 40 million ounce, 15 million tonne gold-copper deposit owned by Harmony and Newcrest whose ground abuts the company's projects with both Newmont and Barrick.
    And it explains Newmont’s desire to crack on with exploration. Phase-three is an important milestone for Triple Plate as it must decide whether to fund its part of the exploration programme.
    The alternative is to go down to a “hard floor” 25 per cent stake in Morobe, in which case it will be carried until the mine goes into production. It would then pay Newmont back from the proceeds of gold sales.
    Before it makes this decision it has the results of the latest campaign to consider.
    Newmont’s investment has so far paid for extensive and continuing heli-mag, geological mapping, surface and geochemical sampling.
    It has identified targets including the current drill site at Hides Creek, where a 3,000-metre diamond drill programme commenced in July 2011.
    The results of that campaign are expected next month and could light the blue touch-paper under the stock.
    At Wamum, Barrick has spent $9.5 million to date on the project and now owns 88 per cent. But so far that 5 million ounce-plus gold discovery has eluded the Canadian group.
    Triple Plate’s McGee initially suspected Wamum was falling down the priority list.
    However he is now more encouraged by the recent dialogue with the world’s largest gold producer, and hopes Barrick will reveal its plans for the project later this month.
    “We have gone from what looked like a potential care and maintenance programme to getting back out in the field and re-looking at the data,” McGee adds.
    “They are looking at it with fresh eyes and a new team and we hope this week they will be back in Toronto looking for a new budget which we hope will include some drilling.”
    Manus Island is another huge opportunity for TPJ and partner Newcrest, which will earn an 80 per cent interest in the project by investing $6 million in exploration.
    At the current rate of spend it will have achieved this financial milestone by the end of the first quarter of next year.
    In August, Newcrest completed a helicopter-borne geophysical survey over the entire 700 square km of the project at Manus Island and continues a programme of mapping and sampling over the entire property.
    A 3,000 metre drilling campaign is expected to begin next month with the first results emerging around Christmas and beyond, McGee reveals.
    At Crater Mountain, where it is partnered with ASX junior Gold Anomaly, Triple Plate has committed to the first 3,000 metres of a programme of up 10,000 metres of drilling, which will now include deep drilling (up to 1,000m depth) with the arrival of the new second rig.
    This it hopes will help uncover a deeper-lying, high grade copper-gold deposit. And indeed the latest drilling results, announced on Monday, lend some support to this thesis.
    “All the indications are there,” says McGee. “We need to find what is down deep. In November we should have more results. We hope it will change Crater Mountain from a bulk tonnage story to a higher grade (deposit).”
    Noting the failures of the previous regime, the laser focus of McGee and the Triple Plate team is Papua New Guinea.
    This means it is looking for a partner to take forward the Pu Sam Cap project in Vietnam, where it has spent US$5.5 million since the inception of that project but which it now looking to capture value for.
    “They are still a highly prospective set of licences which we will look to maintain after investing a significant amount at the front end of the recent work programme.
    “We believe that we are able to maintain the licences for some time while we look for a potential joint venture earn in.”
    With partnerships with three of world’s biggest gold producers, and operating in elephant country, it is surprising then that Triple Plate’s valuation is a mere £14 million.
    This reflects the scepticism among rank and file investors mindful of what has gone before.
    However McGee doesn’t dodge the issue: “There are legacy issues with this company.
    “A lot of money was raised and spent in Zambia. There are legacy issues with the TPJ name.
    “The shareholders managed to oust the incumbent management last June, which is the best thing that has happened to this company in a long, long time.”
    This valuation anomaly is no doubt what attracted Newmont when it tabled its 4 pence a share offer last November and further increased their holding by purchasing a significant block at 6.375 pence this year.
    McGee says the company’s 26 per cent shareholder has advised that it won’t re-bid in the future unless it receives a unanimous recommendation from the board.
    So the focus now is on the results from three key projects, which could make a mockery of Triple Plate’s current stock market valuation.

  4. #4
    Floor Trader HunkyDory's Avatar
    Join Date
    Dec 2009
    Location
    Scotland
    Posts
    958
    Rep Power
    131815

    Default Re: Triple Plate Junction - TPJ

    Interesting article showing the interest right now in some of the PNG projects, especially Wafi-Golpu which is huge. Doesnt mean Newmont/TPJ will find anything, but if they do this is the kind of article that will generate a lot of excitement.





    Harmony rejects PNG suitors
    Harmony Gold said Monday it had received a number of offers for its assets in Papua New Guinea, including its half of the massive Wafi-Golpu property but has rejected them all.
    Author: Christy Filen
    Posted: Monday , 14 Nov 2011

    Harmony is being courted by prospective suitors for its Papua New Guinea (PNG) assets but has turned down any offers being made in the belief that it is too early to realise full potential for shareholders.
    When Harmony released its record quarterly results last month they also released the latest exploration information regarding its PNG prospect, Wafi-Golpu.
    The results of the significant borehole WR406 showed 861 metres at 1.51g/t gold, 1.48% copper and it included 199 metres at 2.87g/t gold and 2.57% copper from 1 286 metres with some assays still pending.
    Chief Executive, Graham Briggs, commented that the exploration results achieved for Wafi-Golpu were reminiscent, if not better, than Freeport-McMoRan's exploration results for their Grasberg mine when they were at the same stage. This could change the face of Harmony significantly.
    The Grasberg mining complex is one of the world's largest single producers of both copper and gold, and contains the largest recoverable reserves of copper and the largest single gold reserve in the world. For 2010, Freeport-McMoRan reported consolidated sales from the Indonesia operations totaled 1.2 billion pounds of copper and 1.8 million ounces of gold. This generated US$6.4bn in revenue and US$ 4.1bn in operating profits.
    Harmony stated that Wafi-Golpu's pre-feasibility study is scheduled for completion by the middle of 2012 and the feasibility study during 2014. This large long life asset is expected to take from 2017 to 2023 to reach full production and cost between US$3bn and US$4bn.
    Harmony would have to fund 50% of this in terms of its joint venture with Newcrest. Hannes Meyer, Financial Director of Harmony, said that there are different scenarios but at a gold price of US$1400/oz it would be able to self fund the project and anything above this price would provide additional resources. Stating that it will take a final decision once the feasibility study is complete, Meyer expects half of this to be funded by debt.
    When asked if it would sell Wafi-Golpu should it turn out to be mainly a copper deposit, Briggs commented that a decision would only be taken once the studies are complete.
    Briggs is complimentary regarding the investment environment in PNG saying that meetings with 50% of the cabinet as well as the prime minister of PNG were positive and held without much fanfare. Briggs emphasised the need to keep communications open and that it was working closely with communities and government in PNG.
    Additional drilling will increase confidence in the resource data which in turn could significantly increase the value of the project. With encouraging exploration results thus far Harmony "believes that the continuation of Harmony's current strategy of investing in the development of its assets in Papua New Guinea is in the best interests of Harmony and its shareholders."

  5. #5
    Power Broker Rawnsley's Avatar
    Join Date
    Dec 2010
    Location
    Madrid
    Posts
    379
    Rep Power
    58375

    Default Re: Triple Plate Junction - TPJ

    Man, papau New Guinea is exploding at the moment, foreign investment is flying in from all over, especially the big players! Needless to say, another great find HD, appreciate your sharing.
    Do not repay good fortune with bad grace

    If you want to make God laugh, tell him your plans

  6. #6
    Floor Trader HunkyDory's Avatar
    Join Date
    Dec 2009
    Location
    Scotland
    Posts
    958
    Rep Power
    131815

    Default Re: Triple Plate Junction - TPJ

    Yeah its been a hotspot this year.
    Its an expensive place to drill with the logistics but when your partners paying for this it doesnt really matter


    Theres a few real small cap gold explorers in PNG if anyones interested

    I took a few ASX:GMX at after they announced a Farm in with Vale (there first move into PNG I think) who will spend $20million over 4 years for 51%. GMX market cap is only $7million with $2million cash

    TSX:PAU have some good exploration ground. They had visible native copper shows on there first drill and the shares rallied over 150%. I bought back in again last week as there below where I initially bought them. $19million market cap $7million cash

    ASX:MGK have some decent exploration land, especially some of the islands. May attract a farm in soon too. A market cap $10million $3m cash.

    There will be others too but these are the real small ones that I like the look of.

  7. #7
    Super Moderator rajaster's Avatar
    Join Date
    Oct 2010
    Location
    Manchester
    Posts
    2,036
    Rep Power
    192837

    Default Re: Triple Plate Junction - TPJ

    Cant find TSX:PAU on google finance.. wonder if they allow watching TSX stocks..

    btw PNG.. as RGM are there and have had trouble with Visas causing drilling delays I wonder if it is affecting anyone else?
    Bang your head on the table when times are hard.. it makes you forget the pain.. Or does it??

  8. #8
    Super Moderator rajaster's Avatar
    Join Date
    Oct 2010
    Location
    Manchester
    Posts
    2,036
    Rep Power
    192837

    Default Re: Triple Plate Junction - TPJ

    Bang your head on the table when times are hard.. it makes you forget the pain.. Or does it??

  9. #9
    Floor Trader HunkyDory's Avatar
    Join Date
    Dec 2009
    Location
    Scotland
    Posts
    958
    Rep Power
    131815

    Default Re: Triple Plate Junction - TPJ


  10. #10
    Floor Trader HunkyDory's Avatar
    Join Date
    Dec 2009
    Location
    Scotland
    Posts
    958
    Rep Power
    131815

    Default Re: Triple Plate Junction - TPJ

    Ocean Equities giving it the hard sell. They are there broker so wouldnt expect anything less.





    Triple Plate Junction has secured world-class partners to fund exploration in Papua New Guinea, says Ocean Equities
    3:52 pm by Giles Gwinnett

    Small cap explorer Triple Plate Junction (LON:TPJ) is in a unique position, having secured world-class partners to fund exploration in Papua New Guinea.

    So says broker Ocean Equities, which has initiated coverage on the stock today.

    In a wide-ranging research note, the broker highlighted that TPJ had secured joint ventures with three of the gold producing heavyweights - Newmont Mining Corporation, Barrick Gold Corporation, and Newcrest Mining.

    It also has a JV with Gold Anomaly (ASX:GOA) - the small cap gold exploration company.

    Analyst Adam Lucas said Newmont, Newcrest and Barrick were among the top eleven gold producing companies globally and forming strategic partnerships with high calibre companies offered many benefits.

    "The ability to work alongside and have access to technical skills and knowledge from the JV partners is a significant benefit to TPJ to maximise exploration potential," he said.

    Last year, the firm underwent a board transformation and review of its prospects and future cash requirements. The outcome was to focus on its four Papua New Guinean assets, added the analyst.

    On November 30, TPJ revealed it expected to deliver drilling results from three of its projects over the coming months as it confirmed that the firm is fully funded through to August 2012.

    Results from Hides Creek – the first target at its Morobe joint venture with Newmont Mining Corporation in PNG – are expected during the next two months. After drilling is completed at Hides Creek it will then move to a second “very highly rated” resource target at Gumots.

    At the Crater Mountain project Triple Plate’s major partner, Gold Anomaly, has now drilled more than 6,500 metres over 12 holes with “encouraging results”.

    Meanwhile, at Manus Island a ‘helimag’ survey has been completed over the entire project (a joint venture with Newcrest) and drill targets at Kisie and Arie identified for the start of a diamond drilling campaign in January.

    And today, it said its partner in the Manus Island joint venture in Papua New Guinea is preparing to diamond-drill the first of a number of priority targets.

    Newcrest PNG Exploration Ltd, a subsidiary of Newcrest Mining (ASX:NCM), plans to start drilling of the first 3,000 metres at the Kisi epithermal gold prospect and the Arie copper-gold porphyry prospect in early January 2012, it said.

    "TPJ has entered the eagerly awaited drilling campaign at its Morobe joint venture district with Newmont, with news flow consisting of the ongoing drilling at Crater Mountain and the commencement of drilling at the prospective Manus Island project with Newcrest.

    "We believe TPJ’s assets will be subject to a significant revaluation if drilling confirms the extent of mineralisation at these targets," said analyst Lucas in the note.

  11. #11
    Floor Trader HunkyDory's Avatar
    Join Date
    Dec 2009
    Location
    Scotland
    Posts
    958
    Rep Power
    131815

    Default Re: Triple Plate Junction - TPJ

    Noticed some bigger buying than usual the last couple of days. This is probably the reason-
    http://www.asx.com.au/asxpdf/2011121...47fqypdgjr.pdf

    Could be very big news
    'The studies indicate that the intrusive intersected by hole NEV027 is a porphyry and bears all the hallmarks of a typical porphyry system, some of which are responsible for some of the largest copper gold deposits in PNG and the world.'

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •