Da geht bald die Post ab WKN: 898464

Frankf. Finance Newsletter

Die Experten vom "Frankfurter Finance Newsletter" bewerten den Titel der Tournigan Gold Corporation (ISIN CA8915651035/ WKN 898464) mit "strong buy".

Im Moment konzentriere sich das Unternehmen größtenteils auf Nordirland. Im Dezember habe Tournigan Unternehmen zwei Pressemitteilungen zu den Probebohrungen in Curraghinhalt veröffentlicht, die auf einen noch höheren Goldgehalt schließen lassen würden, als man zunächst vermutet habe. Zusätzlich zu der bereits bekannten Mineralisierung seien auch neue Goldadern entdeckt worden.

Die Schätzungen der von Tournigan ausgewählten Geologen bezüglich der Abbaukosten würden sich auf ca. 190 USD pro Feinunze belaufen (aktueller Goldpreis: 410 USD pro Feinunze). Im Jahr 2005 sei für Curraghinhalt eine Produktion von 30.000 - 40.000 Feinunzen pro Jahr geplant. Im genannten Zielgebiet verfüge das Unternehmen Ressourcen von insgesamt 255.000 Feinunzen Gold geprüften Ressourcen, während das Unternehmen von weit höheren Ressourcen ausgehe.

Erst im März 2003 habe sich Tournigan Grundstücke in Kremnitz gesichert. Die geprüften Ressourcen in Kremnitz würden sich jetzt schon in einer Größenordnung von 1,1 Millionen Feinunzen Gold und 9 Millionen Feinunzen Silber belaufen. Zusätzlich würden im Lizenzgebiet noch weitere Metalle existieren wie Kupfer, Zink und Blei, die sich als wertvolle zusätzliche Einnahmequellen herausstellen könnten.

Im September 2003 sei eine Kapitalerhöhung erfolgt, bei der 10,7 Mio. Aktien ausgegeben worden seien. Daran geknüpft gewesen seien weitere 5,3 Mio. Optionen. Die erfolgreiche Kapitalerhöhung, die zum Großteil über institutionelle Investoren (RAB Europe, Gabelli Gold Fonds) erfolgt sei, habe mit Bruttoerlösen von 2,65 Mio. CAD (kanadische Dollar) wieder Geld in die Kassen des Unternehmens gebracht, wodurch die Explorationstätigkeiten fortgesetzt werden könnten. Diese Mittel dürften zur Finanzierung der Explorationstätigkeit in Curraghinhalt ausreichen.

Während die Produktion in Nordirland mit einem Goldpreis von 190 USD pro Feinunze rentabel sei, so die Einschätzung des Vorstandsvorsitzenden Damien Reynolds, könne man in Kremnitz noch bis zu einem Preis von 300 USD/Feinunze mit Profit arbeiten. Nach Einschätzung der Experten liege hier das entscheidende Risiko für die Bewertung der Aktie Tournigan. Während die Produktion in Nordirland mit dem anvisierten Jahr 2005 und den genannten Explorationserfolgen in zeitlich greifbare Nähe rücke, seien vor allem die für Kremnitz veranschlagten drei Jahre vor dem Hintergrund der Entwicklung des schwankungsanfälligen Goldpreises zu sehen. Die Wertpapierspezialisten würden jedoch von einem für die Zeit bis 2007 dauerhaft hohen (über oder um die 400 USD/Feinunze) und robusten bzw. weiter steigenden Goldpreis ausgehen.

Auch im Hinblick auf gerade im Moment verstärkten Explorationsaktivitäten in Kremnitz bekräftigen die Experten von "Frankfurter Finance Newsletter" ihr "strong buy"-Urteil für die Tournigan-Aktie.

 

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Tournigan Gold Hits Bonanza Grades While Drilling At The Curraghinalt Gold Project In Northern Ireland.

An interesting company, Tournigan Gold, and high time it obtained a secondary listing in London. At present it is listed on Toronto’s Venture Exchange as well as having a cheapo on Frankfurt, but its assets are in Ireland and the Slovak Republic. In fact not many UK investors had heard of it at all until it did a deal with another Canadian listed company, Strongbow Resources, at the end of 2002 to acquire up to a 75 per cent interest in the Curraghinalt and Tyrone gold projects in County Tyrone, Northern Ireland. Curraghinalt and Tyrone cover 346 sq kms and a fair amount of work has been done on them by past operators including geochemical and geophysical studies, 2,800 metres of trenching, 17,800 metres of drilling and 700 metres of underground development.

A series of high-grade quartz veins had been discovered at Curraghinalt , some of which had been traced up to 2 kilometres along strike. Drilling and underground development had resulted in the definition of a resource of 470,000 tonnes at an average grade of 17.3 g/t containing approximately 250,000 ounces of gold. Tournigan clearly liked what it saw when exploring last year and earlier this month it agreed to change the deal and buy the projects outright from Strongbow for 5 million shares with another 5 million to come when mine construction is approved. This is a sensible move as it provides Tournigan’s management with greater flexibility and speed of decision making and it confirms that the company intends to make a mine of it.

Following some encouraging drilling results last year the Curraghinalt development/production programme now consists of resource in-fill drilling and associated data collection that will comprise a feasibility study leading to permitting and a production decision in 2004. The latest drilling results will do nothing to slow down the programme and they have attracted a lot of attention from investors used to rather more pedestrian grades down the road where Conroy Gold & Diamonds is exploring. . One drill hole, for instance, graded 68.07 g/t gold over 3.43 metres and this included 183.23 g/t over 1.26 metres. Another returned 42.66 g/t over 4.06 metres with a similar bonanza section included and a third assayed 57.16 g/t over 1.92 metres in an adjacent ore shoot.

Grades like this, albeit in shoots, should attract attention all over the world. It is somewhat ironic that there was a recent TV programme in the UK which tended to denigrate the idea of gold in commercial quantities in Ireland despite the history of production in pre-Roman times. In fact there is a book called the Life and Death of a Druid Prince which describes the transport of gold from Ireland across to the east coast of England and onwards to Europe which was organized by the druids in Celtic times and which attracted the Romans to Britain. The TV crew even entered the adit at Curraghinalt and still missed the story that they were standing underneath one of the richest primary sources of gold in Ireland.

This adit and the other underground workings effectively accelerate development of a mine by a full year as all that needs to be done from the mining point of view is put in a raise to the nearest vein to the adit and start producing. Now the company has to produce a measured resource which will be upgraded to a mineable reserve as part of the final feasibility. Metallurgical testwork also has to be carried out, as do environmental checks, and planning permission has to be obtained from the Northern Ireland authorities. Damien Reynolds confirms that relations with them have been very good and he played a shrewd political card by inviting David Montgomery onto the board. He was chief executive of the Mirror Group of newspapers and is now chairman of Team Northern Ireland which gives him contacts in all the right places.

Continuing exploration should boost resources considerably as Tournigan now understands the positioning of these ore shoots on the vein system which is open to the north and west and has big potential at depth. Some idea of the potential can be gleaned from the fact that this vein system extends for at least 8 kilometres.

Meanwhile exploration is also going well at the 100 per cent owned Kremnica gold deposit in the Slovak Republic which was acquired in July last year. The Sturec zone alone now has an indicated resource of 384,231 ozs gold and 2.8 million ozs silver and an inferred resource of 540,733 ozs gold and 4.3 ozs silver all at a cut-off grade of 1 g/t and this is a 10 per cent improvement in a matter of months. Add the two projects together and Tournigan will be seen to have drill inferred resources of 1.2 million ounces of gold. This starts to get serious, and even more so as a scoping study will soon be carried out in Slovakia. Damien Reynolds will be presenting at our next Minesite Mining Forum, so it should be standing room only. By that time he may have more to say about a London listing.

Bid/ask vorbörsenlich bei 0,60/0,60
Heute ist 0,65$ möglich in Kanada...

Hier gefunden
www.minesite.com/archives/news_archive/.../tournigan190204.htm

Tournigan Gold Hits Bonanza Grades While Drilling At The Curraghinalt Gold Project In Northern Ireland.

An interesting company, Tournigan Gold, and high time it obtained a secondary listing in London. At present it is listed on Toronto’s Venture Exchange as well as having a cheapo on Frankfurt, but its assets are in Ireland and the Slovak Republic. In fact not many UK investors had heard of it at all until it did a deal with another Canadian listed company, Strongbow Resources, at the end of 2002 to acquire up to a 75 per cent interest in the Curraghinalt and Tyrone gold projects in County Tyrone, Northern Ireland. Curraghinalt and Tyrone cover 346 sq kms and a fair amount of work has been done on them by past operators including geochemical and geophysical studies, 2,800 metres of trenching, 17,800 metres of drilling and 700 metres of underground development.

A series of high-grade quartz veins had been discovered at Curraghinalt , some of which had been traced up to 2 kilometres along strike. Drilling and underground development had resulted in the definition of a resource of 470,000 tonnes at an average grade of 17.3 g/t containing approximately 250,000 ounces of gold. Tournigan clearly liked what it saw when exploring last year and earlier this month it agreed to change the deal and buy the projects outright from Strongbow for 5 million shares with another 5 million to come when mine construction is approved. This is a sensible move as it provides Tournigan’s management with greater flexibility and speed of decision making and it confirms that the company intends to make a mine of it.

Following some encouraging drilling results last year the Curraghinalt development/production programme now consists of resource in-fill drilling and associated data collection that will comprise a feasibility study leading to permitting and a production decision in 2004. The latest drilling results will do nothing to slow down the programme and they have attracted a lot of attention from investors used to rather more pedestrian grades down the road where Conroy Gold & Diamonds is exploring. . One drill hole, for instance, graded 68.07 g/t gold over 3.43 metres and this included 183.23 g/t over 1.26 metres. Another returned 42.66 g/t over 4.06 metres with a similar bonanza section included and a third assayed 57.16 g/t over 1.92 metres in an adjacent ore shoot.

Grades like this, albeit in shoots, should attract attention all over the world. It is somewhat ironic that there was a recent TV programme in the UK which tended to denigrate the idea of gold in commercial quantities in Ireland despite the history of production in pre-Roman times. In fact there is a book called the Life and Death of a Druid Prince which describes the transport of gold from Ireland across to the east coast of England and onwards to Europe which was organized by the druids in Celtic times and which attracted the Romans to Britain. The TV crew even entered the adit at Curraghinalt and still missed the story that they were standing underneath one of the richest primary sources of gold in Ireland.

This adit and the other underground workings effectively accelerate development of a mine by a full year as all that needs to be done from the mining point of view is put in a raise to the nearest vein to the adit and start producing. Now the company has to produce a measured resource which will be upgraded to a mineable reserve as part of the final feasibility. Metallurgical testwork also has to be carried out, as do environmental checks, and planning permission has to be obtained from the Northern Ireland authorities. Damien Reynolds confirms that relations with them have been very good and he played a shrewd political card by inviting David Montgomery onto the board. He was chief executive of the Mirror Group of newspapers and is now chairman of Team Northern Ireland which gives him contacts in all the right places.

Continuing exploration should boost resources considerably as Tournigan now understands the positioning of these ore shoots on the vein system which is open to the north and west and has big potential at depth. Some idea of the potential can be gleaned from the fact that this vein system extends for at least 8 kilometres.

Meanwhile exploration is also going well at the 100 per cent owned Kremnica gold deposit in the Slovak Republic which was acquired in July last year. The Sturec zone alone now has an indicated resource of 384,231 ozs gold and 2.8 million ozs silver and an inferred resource of 540,733 ozs gold and 4.3 ozs silver all at a cut-off grade of 1 g/t and this is a 10 per cent improvement in a matter of months. Add the two projects together and Tournigan will be seen to have drill inferred resources of 1.2 million ounces of gold. This starts to get serious, and even more so as a scoping study will soon be carried out in Slovakia. Damien Reynolds will be presenting at our next Minesite Mining Forum, so it should be standing room only. By that time he may have more to say about a London listing.
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Tournigan believes that it has an enforceable contract to acquire the Omagh gold property. Tournigan had been hopeful that differences with EGRI could be resolved amicably. Now that EGRI have started a lawsuit, Tournigan will counterclaim for an order that EGRI honour the existing letter agreement to acquire the Omagh property, and looks forward to having that issue resolved in Tournigan`s favour.

Tournigan believes that EGRI`s claim is entirely without merit, and even if it had merit, EGRI`s damages would not be material.

In summary, the lawsuit is wholly unrelated to, and will not affect operations on Tournigan`s existing portfolio of mineral properties. Furthermore, Tournigan looks forward to adding the Omagh property to its portfolio.

WARNING: The company relies upon litigation protection for " forward-looking" statements.