This company will be floated on friday, could be a good play, but struggling to get enough info on them, any one help?

here's a little info i found about mariana.......jonwig

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Feature Story Date: April 07, 2006

Mariana Resources Combines A Team Of Successful Mine Finders With Good Advanced Projects.

Another company on its way to an AIM listing is Mariana Resources and it will be a first for the London office of Haywood Securities. No, not quite a first. The firm acted for Moto Goldmines which listed last week, but that was a dual listing from the ASX, As Haywood is a Canadian firm it will not be able to do much on the retail side, but apparently Jeremy Wrathall has hooked up with WH Ireland on that side of things. That is as it should be as Mariana looks a quality exploration company operating in the Andean Cordillera of Ecuador, Chile and Patagonia. From the outset chairman John Horsburgh and managing director John Sutcliffe have emphasised that the companys skill and experience is in finding mines and they are then happy to trade them on to bigger producers.

As a result of this policy and the quality of its projects, Mariana has IAMgold Corporation and Anglo Group Chile as joint venture partners on some of them. It also has a number of interesting shareholders who have come in at the seed corn stage including Alexander Mining, an AIM listed company on which we commented last week, Apex Silver, Rand Merchant Bank, a well known Swiss fund manager called Hans-Rudi Moser and Geoff Stewart a highly successful mining financier. They are following the people rather than the projects, as they are still at relatively early stages, and the Mariana team boasts over 150 years of combined success in several continents, having been together at the Royal School of mines some twenty years ago.

There are two joint ventures with IAMgold - in Ecuador and Argentina. In Ecuador the joint venture covers two projects, Norcay and Guanazan, both of which are low sulphidation epithermal gold plays in which Mariana is earning a 70 per cent interest for US$2.5 million.. Guanazan is the more advanced as it has some highly prospective drill ready targets as well as offering scope to find others. IAMgold has already drilled some holes into the multiple vein system which assayed up to 9.87 g/t gold and channel samples returned 7.3 g/t. Drilling should start in the third quarter as drills are scarce in the region at the moment. IAMgold reported an intersection of 37 metres grading 2.5 g/t and it took channel samples which assayed up to 29 g/t. At the moment exploration work will focus on following up on this drilling and identifying a new target.

In Argentina the JV with IAMgold covers two highly prospective and untested epithermal gold/silver deposits in the sparsely populated Santa Cruz province. They were discovered by IAMgold using ASTER satellite imagery and very little work has been done on them. Again Mariana is earning a 70 per cent interest by spending US$2.5 million on exploration over 5 years. The core project is Sierra Blanca where there are 25 kms of quartz veins up to 5 metres in width. Vein mapping and some sampling work was carried out in 2005 and drill targets were defined for testing later this year. The project is 50 kms northwest of Anglo Golds Vanguardia gold mine with its 6 million ounce resource.

Across in Chile Mariana is working on a jv with Anglo Group Chile, part of the mighty Anglo American empire. It covers four project and is slightly more expensive than those with IAMgold as Mariana has to spend US$3 million over 5 years to earn its 70 per cent interest. As might be expected in Chile the target is copper and Wardell Armstrong International reckons there is plenty of potential for a major concealed copper porphyry. Drill targets will be defined in the next few months and drilling will follow as soon as possible. As a bonus there are some peripheral silver veins in the Exploradora area where the jv is situated.

The company has three other projects - La Victoria , Loma Alta and Loma de la Virgen - in Ecuador which are wholly owned. La Victoria is a skarn ridge with potential for a large deposit as there are skarn trend extensions. It has plenty of alluvial gold around it which is a good sign and this year exploration will focus on mapping and sampling. Loma Alta contains old mine workings in stratiform high grade gold with channel assays up to 42 g/t. Targets are virtually ready for drilling , but more mapping and sampling will be carried out first. Loma de la Virgen is an untested low sulphidation epithermal target where some bonanza gold assays have been recorded. Further geological mapping is required before drilling can start.

Not a bad portfolio for starters as five of these projects are virtually at drill-ready status. The other properties include early stage target with evidence of widespread gold mineralization which could have plenty of potential. Mariana should strike a chord with investors as gold, silver and copper are moving ever higher in price.


Companies featured in this Story
Ariana Resources Plc (AIM-AAU)
Alexander Mining Plc (AIM-AXM)





petralva - 7 Apr'06 - 12:37 - 84 of 147 edit


these are the principle holders of mariana resources interesting reading..almost 50% held by them..........


John Horsburgh 8.55% Grahame Hamilton 8.19% RMB Australia Holdings Ltd 7.27% Hans Rudi Moser 7.05% Alexander Mining Limited 6.77% Apex Silver Mines Limited 9.81% John Sutcliffe 4.65% After Admission- To be advised

8.9 g/t Au is this a good concentration of gold...... do not know much about mining

8.9 is grams per tonne..........depending on the strike length and depth.

Why is the floatation date always changing?

Tonker How do you know - Do you yet know the EPIC ??

buy pre 92 2p pieces theyre already worth 3p ;)

Oakapples142, There is no EPIC yet, the release date can be fould on this link
http://www.allipo.com/companies/201/ipo-mariana-resources-limited

Pommy, what does your message mean? have you bought some already, how?

what he is saying is that the old 2p up to 1992 was 97% copper,so if you sold a ton (which i might add is illegal) then you stand to make 50% profit as scrap value.

what he is saying is that the old 2p up to 1992 was 97% copper,so if you sold a ton (which i might add is illegal) then you stand to make 50% profit as scrap value.

Ha Ha I get it.. good stuff. I bought a 14carrot 92g chain two years ago when I was on holiday in Turkeyago for about £750... I can scrap it for around £920 now....