Second Life of Namtu Bawdwin-Shan State’s Forgotten Mines

1/17/2018 The Bawdwin Mines » INWA
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The Bawdwin Mines
The Bawdwin Mines, Northern Shan States, epic “Game of Stones”, abandoned silver mine recast as the
world’s largest lead mine by the Burma Corporation, s/o Burma Mines Limited, s/o Burma Mines,
Railway & Smelting Company; now the No1 Mining Enterprise!
Herbert “Kyaw Gyi” Hoover (1874-1964), globe-sailing mining engineer, promoter of natural resource
companies, shameless China “hand-in-the-till”, shareholder and Chairman (1916-18) of the Burma
Corporation, the “Bawdwin resurrector”, and the 31st President of the United States of America
(1929-33). Wall Street crash!
Lt Colonel Patrick Maddox, MC, Legion of Merit, Special Operations Executive (SOE), OSS Detachment
101, Burma Ri es, Army in Burma Reserve of Of cers (ABRO) (1941-1945), Prospecting Engineer,
Consolidated Tin Mines of Burma, explosives expert … Jungle bang!
Banner images; Tiger Camp, Bawdwin Mines in 2011 (courtesy Bernd Seiler); the Bawdwin Mine, 1914, published in the
Mining Magazine; incoming Herbert Hoover and outgoing Calvin Coolidge on the way to Hoover’s Presidential
inauguration, Washington, 1928

Herbert Hoover, Chairman American Relief Committee London, August 1916, (Hoover, centre front)

May 1917 appointed as Woodrow Wilson’s Food Commissioner (Hoover back row left)

Roll call of approximately 2,400 Chinese mine workers at the Simmer and Jack Mine, Witswatersand sometime in the
1900s; French depiction of Chinese workers in the South African mines

New York Yankees baseball team backing the rst ever Catholic presidential candidate, “Happy Warrior” Al Smith,
Democrat, in 1928, Babe Ruth holding the “T”, Smith lost, “curse of the Bambino”?

New York Tribune, pro “Wonderboy” Hoover cartoon, Presidential election 1928; an Anti-Smith cartoon; Text of an upstate
NY lea et; “When Catholics rule the United States, And the Jew grows a Christian nose on his face, When Pope Pius is
head of the Ku Klux Klan, In the land of Uncle Sam, Then Al Smith will be our president, And the country not worth a
damn.”

Pro-prohibition pro-Hoover spicy evangelical base-stealer Chicago White Stockings, Billy Sunday, at the White House
1922, in his view the Democrats were “damnable whiskey politicians, bootleggers, crooks, pimps, businessmen and
streetwalkers”

4th March 1933 with Franklin D Roosevelt en route to the Roosevelt inauguration; 1936 Hoover Dam back end without
the water
Lieutenant Colonel Patrick “Red” Maddox, MC, Legion of Merit Degree of Of cer, Army in Burma Reserve of Of cers
(ABRO), Special Operations Executive (SOE); OSS Detachment 101, Capt Maddox (middle). Part of Operation FORWARD
at Fort Hertz December 1942, then Part of A Group, rst long range parachute in ltration to disrupt Japanese air
operations out of Myitkyina, and then led RED helping take Myitkyina Air eld and town, post war No 16 War Crimes

Investigation Team
The old smelter at the Baldwin Mines in 2011, image courtesy Bernd Seiler

Ming Dynasty “ ying money” (fei chien) from 1375, 1 guan, representing 1,000 wen (coins) depicted as ten strings of ten
coins, issued by the Imperial Board of Revenue. Health warning! “Counterfeiting punishable by death”. British Museum;
Facsimile from a plate of a Great Liao Treasure Note from Emperor Hsien Ch’ing (1136-1141) showing 5 “saddle sycees”.
Health warning “Counterfeiter shall be decapitated, and captor rewarded with 800 taels of silver”; Bronze printing plate,
Shanghai Museum
Pieces of Eight or Spanish Dollars (sometimes referred to as cob in English); “Pai Fang Ding” or saddle sycee from Yunnan,
the rst standardized sycee enabling counting rather than weight to measure value, made by local Kunming banks used in
the trading of opium

The rst modern era prospector of the Bawdwin Mines with a licence issued 1902, Aviet Sarkies (1862-1923) far left
with his brothers, Arshak, Martin and Tigran; the second prospector Richard Tilden Smith (1856-1929) born in
Muswellbrook NSW, cattle driver turned miner and nancier, whose Great Eastern Mining Company acquired the
Bawdwin licence in 1903. He later bought Hoover’s shares in the Burma Corporation.

Walter Liggett (1886-1935), investigative journalist, self-confessed Marxist and member of the Farmer-Labour Party,
author of “The Rise of Herbert Hoover” published in 1932; 9th December 1935, shooting of Walter Liggett in Minnesota.
Isadore Blumenfeld, mobster and bootlegger, aka Kid Cann, was indicted but not convicted, the Cann unshakable alibi was
that he was having a haircut at the time …

Herbert Hoover (1874-1964), approximately 4 years, circa 1878; the Hoover children in Salem 1888, Theodore, Herbert
and Mary

Friends Paci c Academy, Newberg 1888, Hoover second boy from the left front row

“Surveying Squad”, Stanford University 1893, Herbert Hoover bottom left

Herbert Hoover on the camel, transport of choice, in Australia 1897
Hoover 1899; George William Hall had bought the Sons of Gwalia from a local syndicate on behalf of the London &
Westralian Mines & Finance Agency and sold the mine to Bewick & Moreing on Hoover’s recommendation

1900 Hoover in Australia; Sons of Gwalia gold mine 1901
Sons of Gwalia mine bell dated 1905; the inclined mine shaft Sons of Gwalia Mine as designed by Hoover

1921 view, the Sons of Gwalia mine closed 21st December 1963 having produced 2.5 million ounces of gold, reopened to
work tailings, closed again amidst nancial scandal, and in 2008 reopened a third time on a casual basis

Hoover established the Maikop & General Petroleum Trust Ltd in February 1910 as a holding company with F.W.Baker
and W.F.Turner (former CEMC directors) and Prince I.N.Saltykoff (a Romanov) as directors. The following three months he
oated three more companies all of which oundered, and a further three companies which also hit dif culties. The
residual rump of four companies was sold to the Maikop Combine Ltd. at signi cant losses to the shareholders

10th February 1899, Hoover wedding day; Lou Hoover on her wedding day
Hoover in Tientsin; with his Mandarin teacher

Astor Hotel Tientsin, in the former British Concession (granted 1860), rst international hotel in China, built in 1863,
epicenter of diplomatic and concession life; postcard with Astor House Hotel on the left and the Tientsin Club on the right
Tientsin, the Chinese walled city shown at centre, and the foreign concessions to the east (near the railway station)

Anonymous Chinese woodblock depicting Dong Fuxiang’s muslim troops, the “Kansu Braves” attacking Eight Nation
Alliance forces in Tientsin during the Boxer Rebellion; Troops of the Eight Nation Alliance Tientsin 1900, Japan, Russia,
Britain, France, the United States, Germany, Italy, Austro-Hungar
1st March 1902 Dollar “remainder” (not circulated) bearer note of One Dollar issued by the Chinese Engineering & Mining
Company; Ten Dollar bearer note in issue

15th October 1912 warrant for ten shares; warrant for one share

“Steady going”, the Hon Sir Matthew Ingle Joyce (1839-1930), Judge of the Chancery Division High Court of Justice by
Spy, Vanity Fair 23rd January 1902, chromolithograph by Sir Leslie Ward, caricaturist; blockbusting page-turning
publishing sensation of 1912, original by Georgius Agricola translated by Herbert and Lou Hoover
Lou Hoover in Japanese and Burmese traditional dress; Herbert Hoover 1905

No1 London Wall Buildings, the Hoover of ce address; Red House, Kensington, the Hoover residence

Map of Mandalay 1911, Burma Mines head of ce on West Moat Road

Share certi cate of the Burma Corporation issued 1937; Share certi cate of Burma Mines issued in 1952
Bawdwin Mine, lead production began in 1908, Chinaman Tunnel completed in 1910. Tiger Tunnel (2 miles). 1911
smelter moved to Namtu. As appeared in Mining Magazine 1914

As above
Baldwin Mines courtesy Bernd Seiler

Kerr Stuart 0-4-2T Huxley Class steam engine No 13 of 1914 shunting two ore hoppers courtesy Roy Dickinson

Hino Rail car; Electri ed mine line of Tiger Camp, courtesy Roy Dickinson

1/17/2018 Bawdwin Mine - Valentis
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1/17/2018 Exploring Shan State’s Forgotten Mines
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Travel
Exploring Shan State’s Forgotten Mines

By YAN PAI 4 July 2015
NAMTU, Shan State — Just before the rains set in, I set out on the 170-mile journey
from Mandalay to Namtu in northern Shan State.
My destination: the legendary Bawdwin mine, developed under British rule by Herbert
Hoover and others in the early part of the last century, before the former engineer and
globetrotter became the 31st president of the United States.
View gallery
 Relics of history are dotted around the once booming silver and lead mine in Shan State that boasts links to a former US president.

The mine became famous before the Second World War as one of the globe’s biggest
sources of lead as well as an important source of silver and zinc.
Today, the Bawdwin mine remains largely forgotten after it was nationalized in 1965 and
handed over to the Asia World Company in 2010. I wondered what I would find.
In the early morning, the roads were dry and the only green I saw from the windows of
my hired van were banyan trees, irrigated maze plantations and the uniforms of
soldiers providing security on the road.
We passed through Pyin Oo Lwin, Gohtwin, Nawngkhio and Kyaukme before we arrived
at around 10 am at the fork in the road in Hsipaw that leads to the near-deserted
winding one-lane road to Namtu, 42 miles away.
The air was filled with the smell of smoke rising from land being burned off for farming.
Occasionally I saw trees in full blossom, natural springs, grazing cattle and road
workers on the four-hour journey.


A defunct steam engine that
once ran the rails near the
Bawdwin mine. (Photo: Sai
Zaw / The Irrawaddy)

At Namtu, I discovered a town that is home to a diverse mix of people. There are many
Bamar originally from the central dry zone, Chinese and Gurkhas as well as the local
Shan, Kachin and Palaung.
Scattered about the town and its environs on either side of the Namtu river (whose
name translates as “rotten water” in the Shan language), I found relics of history in all
directions.
On the western side of the river I found the old train station, with British-built
warehouses still standing and a signboard that read, “1,765 feet above sea level.”
Steam locomotives with wooden coaches manufactured around the time of the First
World War by UK ﬁrms Keer-Stuart & Co. Ltd and W.G. Bagnall Co. Ltd were stationed at
the start of the spectacular winding railroad to Kya Sa Khan, which means Tiger Camp.
It was there that Herbert Hoover reportedly found the footprints of a tiger close to the
source of what would become a massive mine descending 12 levels and 1,200 feet
underground.
Once also called the Timber Mine for its walls propped up with local hardwood, today
the Bawdwin depths are deserted, and they are only accessible down to the sixth ﬂoor,
according to engineer and foreman at the site U Tin Tun Aung.
Locals told me that an approximately 140-foot-long section of the railway line to Tiger
Camp was damaged during last year’s rainy season and remains unrepaired.
Near the station, up a snaking hill road lined with eucalyptus and frangipani trees, I
found a part of the old mine headquarters.

In the colonial period this rise was named Bo Gon, or Foreigner Hill. The mine
superintendent and foremen lived on the peak, where there was also a hospital and a
post office.
On another hill close to the station is the deserted refinery that dates back more than
100 years. Here I saw two-foot wide railway tracks, old coaches and wheeled iron
containers.
It was easy to imagine the bustle of the past, when thousands of workers led busy lives
here. But now, silence reigns, and just a handful of male and female guards watch over
the refinery on shifts.
A female guard showed me a room with a modern-looking Chinese-made iron furnace
where silver, gold and lead were extracted.
Local sources later told me that state officials sold off five 30 foot high colonial-era
furnaces before the mine was privatized. For a while back then, junior officials dug out
a type of arsenic compound called “speiss” and sold it to Chinese buyers. “It was like a
festival,” a local said, as money flowed through the area and gambling and drug abuse
spread among local youth.
Nearby stood the chimney, which channeled the fumes from the refinery into the open
sky, and below this there is a high lava hill.
Future Prospects
Though Bawdwin mine and the refinery have not functioned since privatization five
years ago, some open pit mining continues here and Asia World still has a skeleton
staff, doing mainly odd jobs and security.

According to workers, the company is investing more in more profitable mines such as
the Heinda mine and the Kawlin gold mine in Tanintharyi and Sagaing regions
respectively.
But a Chinese-run refinery called Myanmar Apex is extracting zinc from the old lava
dumps, effectively making money from rubbish.
Local workers say that bad-smelling fumes and ash from the chimney may harm their
health, but they have to put up with it as the refinery is a source of occasional work.
I had the sense that workers from various parts of Myanmar find it hard to leave this
area where they recall the golden days and hope for a revival.
Some old-timers said they hoped a foreign investor might arrive with expertise as well
as respect for labor conditions and the local environment.
They might get their wish. Though an expected new mining law is still delayed, there
have been recent reports of Australian interest in Bawdwin area deposits.
For me, if armed conflicts in the region cease, this place full of atmosphere and lovely
scenery seems well-placed to become an attractive tourist draw.
This article originally appeared in the July 2015 issue of The Irrawaddy magazine.
Topics: A_Factiva, Magazine, Natural Resources
Yan Pai
The Irrawaddy

1/17/2018 Bawdwin Mining Complex (Bawdwin Mines), Namtu Township, Kyaukme District, Shan State, Myanmar
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Bawdwin Mining Complex (Bawdwin Mines), Namtu Township, Kyaukme District, Shan State, Myanmar
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Latitude & Longitude (WGS84): 23° 6' 35'' North , 97° 17' 48'' East
Latitude & Longitude (decimal): 23.10972,97.29667
Other/historical region names associated with this locality: Burma
A lead-zinc-silver-copper-gold mine in northern Shan State, 50 km WNW of Lashio (22º56'N, 97º45'E).
Mineral List
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Valid Species Ag As Ba C Co Cu Fe H Ni O Pb S Zn
Acanthite
Anglesite
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20 valid minerals.
Regional Geology
This geological map and associated information on rock units at or nearby to the coordinates given for this locality is based on relatively small
scale geological maps provided by various national Geological Surveys. This does not necessarily represent the complete geology at this locality
but it gives a background for the region in which it is found.
Click on geological units on the map for more information. Click here to view full-screen map on Macrostrat.org
Galena
Linarite
Plumbojarosite
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Precambrian
541 - 4000
Ma
Precambrian intrusive and metamorphic terranes
Age: Precambrian (541 - 4000 Ma)
Comments: Mixtures of metamorphic and intrusive or plutonic rocks, tracts known as crystalline, migmatitic terranes, moderately to highly
metamorphosed rocks of unknown origin with or without intrusions. This classification is inherently prone to variable interpretation, as other
compilers might distinguish some packages by their metamorphic or gneissic protoliths, and the associated age ranges may be more variable.
Lithology: Intrusive and metamorphic terranes
Reference: Geological Survey of Canada. Generalized geological map of the world and linked databases. doi:10.4095/195142. Open File 2915d.
[18]
Data and map coding provided by Macrostrat.org, used under Creative Commons Attribution 4.0 License
This page contains all mineral locality references listed on mindat.org. This does not claim to be a complete list. If you know of more minerals from this site, please
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References
Mining Annual Review(1985):389
Rocks & Minerals: 20:225.
External Links
https://gsa.confex.com/gsa/2001AM/finalprogram/abstract_22764.htm
http://adsabs.harvard.edu/abs/2001AGUFM.V22B1035M
Mineral and/or Locality Search

1/17/2018 Namtu - Wikipedia
https://en.wikipedia.org/wiki/Namtu 1/4
Namtuနမၼတူ
Town
Namtu
Namtu (နမၼတူ) is a town situated in northern Shan State, Burma. It is famous for Bawdwin and Namtu silver
mines. NamTu River is flowing across in the middle of town and the transportation from Namtu to Lashio or
Namtu to Mandalay is by bus.[1][2]
History
Geology
Politics
References
External links
The Namtu Bawdwin Mines were the world's largest source of lead, and one of the world's largest sources of silver
before the Second World War.[3] Before the British arrived in the 1880s, the Saopha of Tawngpeng controlled the
mines at Namtu, although the mining work was undertaken not by the Palaung but by the Chinese from Yunnan
Province across the border. The mines fell into disuse when the lode was followed to the ground water level.[4]
They were revived by the British and the largest mines were operated by the Burma Corporation at the beginning
of the 20th century.[5][6] Today the Namtu mines are under state control, known as No 1 Mining Enterprise and
run by the Ministry of Mines.[7]
Lead, zinc and nickel are also produced by the mines. Zinc was bought mainly by Japan, and the other minerals
sent to Namtu for smelting before being marketed abroad.[8]
In February 1998, 3,000 workers went on strike for better working conditions and increase in wages for
underground miners.[1][9]
Namtu
Coordinates: 23°5′33″N 97°24′4″E
Contents
History

Location in Burma
Coordinates: 23°5′33″N
97°24′4″E
Country Burma
State Shan State
District Kyaukme
District
Township Namtu
Township
Population (2005)
• Ethnicities Shan, Palaung
• Religions Buddhism
Time zone MST
(UTC+6.30)
A Chinese company won the contract in 2002 for the construction of a zinc oxide plant at Namtu, processing
50,000 tonnes of zinc slag annually and the zinc oxide to be exported to a smelter in Yunnan.[10]
In 1904, Herbert Hoover, representing Bewick, Moreing and Company, visited the mines upon the urging of A.C.
Martin. Martin was building the railway from Mandalay to Lashio and owned the lease. Hoover arranged capital
to develop the mines and agreed to invest some of his own savings in what he called "the largest chance of my
life." The capital was also used to link the mines via rail to the main line and erect a smelter in Mandalay to melt
the slags. The initial promise of financial return from the abandoned copper-lead mine was in the enormous lead
left behind in the surface slag. The mines had been worked by the Chinese from 1400 until 1850, mainly for silver.
However, after separating the silver via cupellation, the lead was left behind. The Chinese left "hundreds of dumps
and tunnels, extending over nearly three miles." One open was a thousand feet long, five hundred feet wide, and
three hundred feet deep. Lead production began in 1908, the same year Hoover became managing director of
Burma Mines. The "Chinaman Tunnel" was completed in 1910. Hoover became chairman of the board in 1914.
The two mile long "Tiger Tunnel" gained access to "one of the largest and richest lead-zinc-silver ore bodies ever
discovered." Production of that ore started in 1916 after the construction of mills and hydroelectric
plants.[6]:90-96,101
In 1911, the smelter was moved to Namtu and monthly lead production was 1000 tons and 22,000 ounces
of silver. Total production from 1909 through Oct. 1915 was 66,000 tons of lead and 1,432,000 ounces of
silver from 158,000 tons of slag and 35,000 tons of ore.[11]
The Shan State Army (SSA-North)'s Third Brigade has been active in Mongmit, Kyaukme, Hsipaw,
Namtu and Lashio. It reached a cease-fire agreement with the Burmese military government (SLORC) in
1989, and its activities have been severely curtailed.[12][13] The Palaung State Liberation Organization,
also active in the region and another one of the cease-fire groups, announced a ban on the cultivation of the opium poppy in the area under their control. They had
alleged that the Burmese military was levying a tax on the poppy farmers.[14]
1. "ICFTU sends radio message to striking workers at Namtu silver mine" (http://www.hartford-hwp.c
om/archives/54/266.html). Hartford Web Publishing. 11 February 1998. Retrieved 2009-02-06.
Geology
Namtu Bawdin mine cross section
Politics
References

Satellite map (http://wikimapia.org/4173391/Namtu-Town) Wikimapia
2. Waite, James. "The Burma Mines Railway, Namtu" (http://farrail.de/pages/trip-reports-engl/burma-
namtu-2006-02.html). FarRail Tours. Retrieved 2009-02-06.
3. "Historical Dictionary of Burma (Myanmar)" (https://web.archive.org/web/20110727084909/http://
www.scarecrowpress.com/Chapters/Index.shtml?SKU=0810854767&Site=scarecrowpress&Title=Hi
storical%20Dictionary%20of%20Burma%20(Myanmar)&FileType=PDF). The Scarecrow Press, Inc.
Archived from the original (http://www.scarecrowpress.com/Chapters/Index.shtml?SKU=08108547
67&Site=scarecrowpress&Title=Historical%20Dictionary%20of%20Burma%20(Myanmar)&FileType
=PDF) on 2011-07-27. Retrieved 2009-02-07.
4. Singhanetra-Renard, Anchalee (September 2004). "The Palaung of Shan State" (http://www.rockm
ekong.org/pubs/lab-pubs/Paris%20Palaung%20paper.pdf) (PDF). rockmekong.org. Retrieved
2009-02-07.
5. Kratoska, Paul H. South East Asia, Colonial History (https://books.google.com/books?id=qf3XSIJqS
ZkC&pg=PA173&lpg=PA173&dq=namtu&source=web&ots=cMsEA25rV6&sig=6j5bd5phWy5TtIkEyJ
KqhtKHkBo&hl=en&ei=IvGNSY_lJpiL-gbJ8eWJCw&sa=X&oi=book_result&resnum=3&ct=result#PP
A174,M1). Taylor & Francis, 2001. ISBN 978-0-415-21542-8. Retrieved 2009-02-07.
6. Hoover, Herbert (1951). The Memoirs of Herbert Hoover, Years of Adventure 1874-1920. New
York: The Macmillan Company. pp. 90–96,101–102.
7. "Quotations" (http://mm.mofcom.gov.cn/column/print.shtml?/sqfb/200608/20060802865071).
Ministry of Mines. Retrieved 2009-02-07.
8. Adams, Timothy. "Bureau of Mines / Minerals yearbook area reports: international 1974" (http://dig
icoll.library.wisc.edu/cgi-bin/EcoNatRes/EcoNatRes-idx?type=turn&entity=EcoNatRes.MinYB1974v3.
p0220&isize=text). University of Wisconsin Digital Collections. Retrieved 2009-02-07.
9. "Hot Spots" (http://www.earthwins.com/ewd/ewd021198a.html). EarthWINS Daily. 11 Feb 1998.
Retrieved 2009-02-07.
10. "Chinese Company Building Zinc Oxide Plant at Namtu" (http://dir.groups.yahoo.com/group/Burma
Courier/message/65). Burma Courier No. 302. January 5, 2002. Retrieved 2009-02-07.
11. Hoffmann, J.D. (1916). "The Bawdin Mines". The Mining Magazine: 139–146.
12. "Ceasefire group gets marching orders" (http://www.shanland.org/politics/2005/Ceasefire-group-ge
ts-marching-orders/). S.H.A.N. 2005-08-30. Retrieved 2009-02-04.
13. "Truce Brings Only Grief, Says Ceasefire Leader" (http://www.shanland.org/politics/1999/truce_brin
gs_only_grief.htm/). S.H.A.N. 2005-05-23. Retrieved 2009-02-04.
14. "Palaungs Declare War on Drugs" (http://www.shanland.org/drugs/2000/palaungs_declare_war_on
_drugs.htm/). S.H.A.N. 2005-06-04. Retrieved 2009-02-07.
Namtu Bawdin mine map
External links

Shan State map: 8= Namtu (http://www.asterism.info/states/11/map.html) Asterism
Location Map of Namtu Bawdwin Mine (http://mission.itu.ch/MISSIONS/Myanmar/e-com/MINES/MINES/myanmar.com/Ministry/Mines/mines/Namtu%20L-Ma
p.htm)
Retrieved from "https://en.wikipedia.org/w/index.php?title=Namtu&oldid=801586059"
This page was last edited on 20 September 2017, at 15:58.
Text is available under the Creative Commons Attribution-ShareAlike License; additional terms may apply. By using this site, you agree to the Terms of Use and
Privacy Policy. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization.

1/17/2018 Burma Mines Railway - Wikipedia
https://en.wikipedia.org/wiki/Burma_Mines_Railway 1/2
Burma Mines Railway
The Burma Mines Railway is a 2 ft (610 mm) gauge railway in Myanmar for the transportation of locally mined silver and lead ore to a smelter at Namtu.
The line runs from Namyao, on the Mandalay - Lashio branch of Myanmar Railways, via Namtu to Bawdwin and is 80 kilometres (50 mi) long.
History
Present day
See also
References
External links
The Burma Mines, Railway and Smelting Co Ltd was founded in March 1906 and the construction of the railway started in 1907, to reach the Tiger Camp mining
area in 1908, with a 5 kilometres (3.1 mi) extension to the Bawdwin mines and[1] included a Z-reverse at Wallah Gorge, just before Tiger Camp, which was later
replaced by a spiral.
The railway's headquarters and workshops were built in Namtu.
In 1914 the connection with the metre gauge Burma Railways was moved from Manpwe to Namyao, a short distance to the east. After the First World War, the local
Burma Corporation Ltd took over operations and built an electrified underground railway at Tiger Camp and 100 hopper cars were ordered from the American
Pressed Steel Car Company.
In the 1930s the line experienced its peak traffic.[2] Steam was largely replaced in the 1970s and 1980s but today two steam locos remain in working order.[3]
Contents
History
Present day

1/17/2018 Burma Mines Railway - Wikipedia
https://en.wikipedia.org/wiki/Burma_Mines_Railway 2/2
In present day, the coal for the smelters and the finished products is transported by road. Ore transport from Bawdwin to Namtu is still done by rail. The section
from Namyao to Namtu sees little traffic. Namtu is a security area and restrictions are placed on visiting the railway, mines and smelters, except on official tours.
Rail transport in Burma
1. The Burma Mines Railway, February 2006 (http://www.internationalsteam.co.uk/trains/burma15.htm)
2. The Burma Mines Railway 1999 (http://www.internationalsteam.co.uk/trains/bmines.htm#History)
3. The Burma Mines Railway in Namtu (http://www.farrail.net/pages/touren-engl/burma-mines-railway-steam-in-namtu-2013.php)
Namtu Mines Railways - A set on Flickr (https://www.flickr.com/photos/12906273@N05/sets/72157615814027547/with/3386077018/)
Burma Mines Railways - A set on Fotocommunity (http://www.fotocommunity.com/photographer/alexandre-gillieron/photos/burma-mines-railway/669176)
Retrieved from "https://en.wikipedia.org/w/index.php?title=Burma_Mines_Railway&oldid=808980373"
This page was last edited on 6 November 2017, at 12:05.
Text is available under the Creative Commons Attribution-ShareAlike License; additional terms may apply. By using this site, you agree to the Terms of Use and
Privacy Policy. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization.
See also
References
External links

1/17/2018 Ministry of Natural Resources and Environmental Conservation
http://www.mining.gov.mm/ME-1/1.ME-1/details.asp?submenuID=11&sid=241 1/3
Tel: 067409019 | Mail: messenger@e-mining.gov.mm English | Myanmar
Click to enable Adobe Flash Player
Namtu-Bawdwin Mine
Namtu-Bawdwin, Lead-Zinc-mine is located in Northern Shan State and has been producing
refined Lead, refined Silver, Nickel speiss, Copper matte and Antimonial Lead.etc. At present, it has
been transferred to Win Myint Mo Industrial Company Limited with effect from (5.1.2010) and
running on production sharing basis with No.(1) Mining Enterprise. The Ore reserve was (3.55)
million tonnes of underground lead Sulphide ore& (8.6) million tonnes of Open Pit Ore which
contains (7.67%) Ob,(3.60%) Zn, (4.77)oz/ton Ag and (5.21%) Pb,(3.18%) Zn, (4.19)oz/ton Ag
respectively.
Ministry of Natural
Resources and
Environmental
Conservation
HOME
NEWS
DEPARTMENTS
Union Minister Office
Department of Mines
Department of Geological
Survey and Mineral Explorer
No.1 Mining Enterprise
No.2 Mining Enterprise
Myanmar Gems Enterprise
Myanmar Pearl Enterprise
HOME NEWS DEPARTMENTS ANNOUNCEMENTS LAWS CONTACT US Search Our Website… SEARCH

1/17/2018 Ministry of Natural Resources and Environmental Conservation
http://www.mining.gov.mm/ME-1/1.ME-1/details.asp?submenuID=11&sid=241 2/3
Sabe Taung, Kyisin Taung Project
Myanmar Ivanhoe Copper Company Limited-(MICCL) which has been a foreign Joint Venture
Operation of No.(1) Mining Enterprise is located in Salingyi Township, Monywa district, Sagaing
region and produced LME grade A Cathode Copper from Kyisin Taung, Sabe Taung and Sabe Taung
South Copper Ore deposits. Nowadays it was transferred to a local company which continues the
Copper production with a foreign Joint Venture Company. MICCL produced (264,036) tones of
Cathode Copper up to transferring date.

1
If Spain’s Conquistadors Had
Headed East…They May Have
Found the Real El Dorado
Jason Stevenson, Resources Analyst
‘If I could put all of my money into Myanmar, I would. Myanmar is in the same place China
was in early 1979, when Deng Xiaoping said we have to do something new.
‘Myanmar is now opening up.’
Legendary commodities guru Jim Rogers
In 1962 Myanmar (or Burma as it was then called) was the single richest country in Asia.
It was fast on its way to becoming the second most developed nation in Asia after Japan.
The country was swimming in rubies, oil and valuable timber. It also had the largest qualified
and educated workforce in Southeast Asia.
Myanmar’s main temple — Shwedagon
Pagoda — in Royal City ofYangon boasts
tonnes of gold.The crown is tipped with 5,448
diamonds and 2,317 rubies. At the top sits a
diamond the size of a fist!
Take a look at the temple for yourself
(next page)
ISSUE 10 VOLUME 13 OCTOBER 2017
Dow Jones 22,872 Spot Gold $1,295 S&P/ASX 200 5,771 Brent Crude Oil $50.94
IN THIS ISSUE
An underexplored metals oasis.................2
At the epicentre of growth.........................3
The commodity set for big profits.............4
http://www.portphillippublishing.com.
au/osi/
Please e-mail us at:
cs@portphillippublishing.com.au
with your feedback.

2
Source: ICSTravel Group
In a way, Myanmar was the El Dorado of
Asia. El Dorado was the mythical South
American city nicknamed the ‘Lost City of
Gold’. According to legend, El Dorado was
abundant with gold.The tribal chiefs and tribe
members all wore gold. Gold earrings, gold
pendants, gold plaques, and gold crowns.
Attracted by the tales of riches, Spanish
fortune hunters (conquistadors) risked their
lives trekking through uncharted territory. It
was a futile search.
While local tribes used gold for ceremonial
purposes, the amount of gold discovered
by the Spanish conquistadors was nowhere
near the amount promised by the legends.
It turned out El Dorado was a myth…it didn’t
exist. But Myanmar isn’t a myth — it exists.
More than that, it potentially hosts some of
the largest metal mines in the world.
An underexplored metals oasis
That’s what makes Myanmar and the
opportunity to invest in this ‘Real El Dorado’
an exciting story. Where the mythical El
Dorado failed to live up to the expectations
of the gold-hunting conquistadors, the Real
El Dorado of Myanmar seems certain to
deliver on its promise.
Remember, not long ago, Myanmar was
considered the wealthiest Asian country. It
boasted a significant minerals industry, and
was a leading producer and exporter of tin,
lead, zinc, and silver.
But you wouldn’t know it today. Myanmar’s
metals industry has been nearly non-
existent since 1962.The country was ruled by
a military-dominated government until a few
years ago.
The military rule had a devastating impact
on Myanmar’s economy.The economy went
into isolation — international trade and
globalisation bypassed the country, and
it missed out on many of the benefits of
improved technology.
That’s starting to change.
Myanmar’s mobile penetration rate
jumped from 3% five years ago to 89% last
year.The Nikkei Asian Review reported on
25 September:
‘In a tiny village in central Myanmar, about
a two-hour drive from the nation’s second
largest city Mandalay, electricity does not
arrive through power lines. It comes from
home generators or solar panels.
‘But that does not stop the locals from
charging their smartphones.
‘“How many of you have a mobile
phone?” the Nikkei Asian Review asked a
gathering of several dozen residents, and
almost everyone’s hand shot up.’
Despite the rapid change, the famous saying
remains: Once you land at the airport, wind
your watch back by decades.
Yet, in my view, there are massive
investment opportunities in Myanmar.
The growth potential could be on a par with
China’s economic growth from 1979.That’s
when Deng Xiaoping said China had to do
something different. But comparing the

3
times, given today’s globalised economy
and technological advantages, Myanmar’s
transition to prosperity could seemingly
happen overnight.
At the epicentre of growth
Marc Holtzman, chairman of Meridian
Capital — a leading private equity firm —
turned bullish on the country three years
ago. He told CNBC on 23 January 2014 that
the reforms taking place were real, and that
the genie was out of the bottle.
He’s been spot on so far.
In 2014, McKinsey Global Institute — a
global top-tier management consulting firm
— estimated the country’s economy would
grow from US$45 billion to US$200 billion
by 2030.The forecast is on track. Myanmar’s
gross domestic product (GDP) hit US$67.43
billion last year.
If McKinsey’s 20-year-odd forecast proves
right, Myanmar should grow at 9.68%
annually — greater than China’s current
growth rate of 6.7%.That would do wonders
to help lift many of Myanmar’s 65 million
people out of poverty.
Now, the economy will experience both ups
and downs in the future. But punting on
the country seems like a smart idea today.
Myanmar’s economy is starting to open up.
Foreign direct investment (FDI) has surged
by more than US$3 billion since 30 June —
well ahead of the government’s US$6 billion
annual target.
Infrastructure and telecommunications
projects have seen most of the capital flows.
Deal Direct Asia reported on 9 October:
‘Credera Group, currently raising
a $100 million private equity fund
focused on Myanmar, is betting on
strategic greenfield ventures in finance,
manufacturing and other consumer
spaces to forge new deals in the country.
‘As a pre-consumer market, Myanmar
is still in the process of building its
infrastructure.’
There’s no shortage of infrastructure projects
in the pipeline.That should fuel demand for
natural resources in the future.
Remember China’s infrastructure growth
story in the early 2000s? It triggered an
almighty commodities bull market. And while
that’s unlikely to happen this time around, the
country’s natural resource demand certainly
won’t hurt our resource stocks!
But that’s not all. It’s also important to
consider geography. Myanmar borders
both China and India.Those two countries’
populations combined represent 40% of the
world population. In fact, as the following
map shows, more people live in the circled
area than outside it. Myanmar is strategically
located near the epicentre of this circle:
Source: Reddit user Valeriepieris
But forget about the country’s own
development plans for a second. Myanmar’s

4
export potential for its natural resources
is big...really big. China — the world’s
fastest growing superpower — is the
country’s largest export partner. I believe the
partnership will only grow from here.
An emerging hotspot for
commodity investors
Frontier Myanmar reported on 5 October:
‘China is the biggest investor in Myanmar,
accounting for 26.36 percent of FDI
[foreign direct investment] since 1988
— about 25 times that of India, at 1.02
percent.
‘There is much room for growth. India
is one of Myanmar’s smaller trading
partners, while its historical rival
China is one of the biggest. In 2014-
15, India accounted for just 8.1 percent
of Myanmar’s exports and China, 41.3
percent, official figures show.’
Myanmar and China are linked
geographically, historically, culturally, and
economically.The two countries share a
2,092-kilometre-plus border. Its original tribe
came fromTibet (a Chinese state claiming
independence) and spawned kings, uniting
the kingdom during the 12th century.
Tribes still live on both sides on the border,
mostly in Myanmar’s eastern Shan and
Kachin States and in China’s south-western
Yunnan Province. But, unlike the Indian-
Tibetan border, there have (mostly) been
friendly relations since the border was
drawn during the British colonial years.
Since the late 1980s, China has been a
major investor in its economy, becoming a
key export market for the country’s natural
resources.Tin exports jumped by 63% to
the country last year, for example. But tin
is one of many commodities. Copper is
the country’s largest export product in the
mining sector.
Myanmar offers significant untapped
potential. But its problem is clear: Most of
the country’s mines remain shut.Today,
Myanmar’s mining sector is effectively
an artisanal industry (small-scale mining
operations), accounting for less than 0.1% of
the country’s GDP.
Multiple rich zinc, lead and silver deposits
are located across the country, but they
aren’t producing yet. Significant potential
remains for their redevelopment. Many
of the country’s major deposits haven’t
been mined out and are candidates for
rehabilitation.
The commodity set for big profits
Focusing on the zinc potential today, the
market has tightened following supply
cutbacks and tougher Chinese curbs on
mining. ‘The more China reduces what it can
produce at home, the more it will need to
import, simple as that,’ a trader in Perth told
Reuters on 4 October.
Zinc prices have hit 10-year highs for
that reason:
Source: Bloomberg
In my view, this is a great time to punt

5
on zinc plays — the price is surging. But I
wouldn’t just buy any odd zinc stock. Zinc
buyers are struggling to make money at
current prices. Deshnee Naidoo, the chief
executive officer of the company’s Vedanta
Zinc International unit, told Bloomberg on
6 October:
‘“The whole market is out of whack,”
Naidoo said in Johannesburg on
Thursday. “In the short term it’s a good
price, but it’s not a sustainable price.
There needs to be an incentive price for
galvanizers, alloy producers, smelters.”
‘“It’s not a price we would expect to see
in the market for the long term,” Naidoo
said. “If we don’t sell a product people
can use and make money out, of we’re
going to have problems.”’
But based on my experience, considering
the euphoria, the best opportunities are with
the zinc plays going under the radar. So
that’s why we’ve looked for the best ASX-
listed junior zinc explorer.
And we’ve found it in, you guessed it, Myanmar.
This stock is a great way to gain exposure
to Myanmar’s investment story. Where
commodities guru Jim Rogers said he’d
invest all his money if he could.
Rogers’ view shouldn’t be taken lightly. He
cofounded the Quantum Fund in 1973 with
another legendary investor, George Soros.
He helped steer the fund to a 4,200% total
return before he ‘retired’ at the age of 37.
So when Rogers says Myanmar is a great
opportunity, we should pay attention.
The good news is that, while we don’t
advise taking Rogers’ advice literally (in
other words, don’t put all your money into
Myanmar), we can today reveal what my
analysis shows to be the best zinc stock set
to benefit as Myanmar hits a growth spurt
and begins to allow commercialisation of its
vast resource wealth…
Introducing your October Resource
Speculator stock pick
This month’s Resource Speculator stock
pick is Myanmar Metals Ltd [ASX:MYL].
Myanmar Metals trades on the ASX for
6.6 cents per share and has an enterprise
valuation (market cap less cash plus debt) of
$30.5 million.
Myanmar Metals is run by an experienced
management team and backed by savvy
investors. Multi-millionaire mining tycoon
Mark Creasy put together the initial funding
package in July, when the company moved
into Myanmar.
Haven’t heard of Mark Creasy? He’s a true
prospector, netting roughly $123 million
from selling two gold projects to Joseph
Gutnick’s Great Central Mines in 1994.The
mining legend is now worth over $700
million. He banked just over half a billion
dollars when Independence Group NL
[ASX:IGO] acquired Sirius Resources for $1.8
billion in 2014.
Mark Creasy cofounded Sirius Resources,
which unearthed the high-grade Nova nickel-
copper sulphide deposit.
Yandal Investments Pty Limited, a company
associated with Creasy, loaned just over
US$1.5 million (AU$2 million at 75 US cents)
to Myanmar Metals on 3 July.The loan can

6
be converted to shares in nine months’ time.
Creasy would then become the number one
shareholder in Myanmar Metals, holding
close to 50 million shares.
Oska Nominees is the company’s current top
shareholder, owning just under 10 million
shares, or 4.78% of the company.The top
20 shareholders own just under 44% of the
company. But if Creasy converts his shares,
that should rise to about 54%.
The bottom line:This company is hot and, if
you want a piece of the action, there aren’t
many shares to buy.
A prospector’s dream
Myanmar Metals is run by John Lamb, a
30-year mining veteran. Lamb is the perfect
man for the job, with proven experience
putting mines into production.
Lamb was General Manager of the Century
Zinc Mine (2007–09) — the second‐largest
zinc producer in the world at the time. Lamb
then became General Manager (2009–11)
of the 80-year-old Rosebery zinc-lead-
silver-copper mine. Rosebery is similar to
Myanmar Metals’ Bawdwin deposit, where it
owns 85%.
Bawdwin — a zinc-lead-silver-copper deposit
— isn’t a ‘greenfield’ play.That means we
know zinc-lead-silver-copper exists.The mine
merely needs to be refurbished and put back
into production (assuming the economics
stack up).Take a look at the mine:
Source: Myanmar Metals
Bawdwin’s history dates back to at least the
15th century.The United Nations estimates
that 10 million ounces of silver have been
produced over the last six centuries.The
mine is located in a strategic location,
being roughly 160 kilometres from the
Chinese border.
Take a look at its location on the map below:

7
Bawdwin has been a major mining site for
centuries. Before embarking on his political
career, young Herbert Hoover — President
of the United States from 1929–33 — initially
travelled the world working as a mining
engineer. He arrived at Bawdwin in 1907, where
both he and his wife contracted malaria.
According to The Memoirs of Herbert
Hoover:Years of Adventure, 1874–1920,
Volume 1, he and his colleagues saw tiger
tracks in one of the mineshafts during a field
visit. Here’s a snippet from the memoirs:
‘We started to crawl into these tunnels one
by one, but sooner or later were baffled by
falls of the roof. In the last one we entered
I, in advance of Clark, was crawling on one
hand and my knees, carrying a candle in
the other hand. By chance I looked down
into a puddle of water ahead, and there, as
big and plain as life loomed the fresh track
of a tiger. He had been going in. I pointed it
out to Clark.
‘To fight a Bengal tiger with a miner’s
candlestick made no appeal whatever
to either of us. With no delay and with
steadily increasing panic we made for the
entrance.The tiger, fortunately, was not
of an inquiring turn of mind and did not
come to greet us. Anyway, we explored no
more tunnels. When, later on, we came to
build a great double track tunnel through
which to operate the mines, I named it the
Tiger tunnel. It provided more room in
case of such conflict.’
Hoover was a self-made millionaire and
developed the 2.4-kilometre ‘TigerTunnel’
in 1919. His involvement with Burma Mine
Corporation at Bawdwin earned him much
of his fortune. During the colonial period,
Bawdwin was considered the richest mine in
the British Empire.
Bawdwin’s reserve boasted 10.8 million
tonnes of ore before the Second World War.
According to Khin Zaw in 1990, the deposit
graded 14% zinc, 23% lead, 1% copper
and 670 grams per tonne of silver. 500,000
tonnes of high‐grade product was mined
before the war.
Unfortunately, the mine’s infrastructure
was largely damaged during the war. And
while operations recommenced in 1951,
Bawdwin was nationalised in 1963 by
General Ne Win. Nationalisation led to a
significant drop in production at Bawdwin,
which Peter John Perry — a New Zealand
academic — attributed to mismanagement
in his book Myanmar (Burma) Since 1962:
The Failure of Development.
Bawdwin remained state-owned until
1996, when Mandalay Mining gained an
exploration permit. Resource Service Group
(RSG) — an independent consulting firm —
estimated a resource in 1997:

8
RSG estimated about 1.5 million tonnes
of zinc, 3.6 million tonnes of lead, 118,000
tonnes of copper, and 2.1 million ounces of
silver remain at the project. Put differently,
we’re looking at a world-class polymetallic
deposit in the making.
Let’s be blunt: Myanmar Metals offers a
once-in-a-lifetime investment opportunity.
Bawdwin looks like the real deal. But there’s
still a fair bit of work ahead to prove it.
CSA Global — a leading international mining
consulting firm — is currently updating the
RSG’s resource estimate. Last Wednesday,
John Lamb told Boardroom Radio it should
be out within the next three to four weeks.
The clock is ticking…
CSA Global is evaluating whether Bawdwin’s
lower-grade product can be redeveloped
as a large scale mining operation. It’s also
preparing a scoping study (a back-of-the-
envelope feasibility study) to assess that
potential. So there’s plenty of news to come
in the months ahead to drive the share price.
Myanmar Metals’ market cap is about
$30 million at time of writing. Assuming
everything goes to plan, we could probably
see a $50–100 million market capitalisation
by year-end. I don’t make that forecast
lightly. Resource Speculator stock pick
Meteoric Resources NL [ASX:MEI] is worth
$34 million based on its high-grade sulphide
potential. It hasn’t estimated a resource and
isn’t close to a scoping study.
Meteoric’s share price is surging higher
by the day — it has nearly doubled from
our buy-up-to price within a few weeks.
Myanmar Metals is two or three steps
ahead, and should be worth more — a lot
more — than Meteoric Resources. Now
is the time to start building a position. I
believe we should see the share price re-rate
following the resource upgrade.
With this in mind, let’s check out the risks.
Investment risks
Exploration and development risk: Myanmar
Metals is currently estimating a resource
to assess an open‐pit mine development
strategy at Bawdwin. Bawdwin includes
a historical mine, as well as a large ‘halo’
of lower-grade material. CSA Global is
assessing whether the ‘lower-grade’ product
is economically viable.
There’s no guarantee we’ll get the
greenlight. And, given the resource upgrade
is focused on lower-grade product, the
market might be disappointed.
Myanmar Metals intends to explore for
more high-grade zinc at Bawdwin. It’s too
early to tell whether there’s more high-grade
product.That might disappoint the market.
And the exploration process will cost time
and money. If nothing happens for some
time, investors tend to get bored and sell,
driving the share price sharply lower.
I’ll be keeping a close eye on the results.
If they underperform my expectations, the
share price will likely fall. If that happens, I’ll
let you know when it’s time to sell.
Capital raising: Myanmar Metals raised
$3 million on 21 August.The funds are
being used for the due diligence process
and upgrading the resource. But running
a project in another country and paying
for an experience management team and
CSA Global isn’t cheap. I believe funds are

9
running low, and that another capital raising
is imminent.
I recommend buying half of your shares now
and half during the next raising.
Myanmar Metals is trying to refurbish an
existing mine, which costs lots of money.
It needs more capital for economic and
metallurgical studies. Future drilling
programs focusing on high-grade zinc will
also cost money.
Sovereign risk: Myanmar is becoming a
more favourable investment destination.Yet,
despite more foreign invest moving into the
country, you can’t dismiss the chance that
something could go wrong.
The Irrawaddy — a Myanmar politically-
focused website — reported on 18 September:
‘While Myanmar Metals touts the mineral
potential of Shan State and the Bawdwin
site, there does not appear to be any
mention on the firm’s website or in its
filings with stock market regulators in
Australia of the ongoing conflict and
continued displacement of thousands
of refugees in the region.This arguably
leaves potential investors with an
incomplete understanding of the situation
on the ground in NamtuTownship.
‘Other foreign mining firms who have
sought to do business in northern Shan
State have come up against a range of
difficulties. In October 2014, the Hong
Kong-based Asia Pacific Mineral Limited
(APML) was granted an exploration permit
for minerals in the region, a concession
that included areas adjacent to the
Bawdwin mine site. Reuters reported that
just three days after APML was granted
the permit, clashes between the army and
theTNLA broke out near their concession.’
Clashes between the military and several
armed ethnic groups have persisted in
recent years across a wide stretch of
countryside in northern Shan State. Given
the rising social instability, the risk of project
delays and theft can’t be ignored.
If you’re comfortable with those risks,
read on…
Buying instructions
Myanmar Metals Ltd [ASX:MYL] is a
relatively liquid zinc stock trading on the
ASX. Since 28 August, it’s averaged around
$222,195 in trades per day.
I suggest placing a limit order for your
shares so that you don’t overpay. If you
buy at market, you might not get the best
price. Placing a limit order will also reduce
your potential losses and maximise your
potential gains.
In this instance, I’ve set the maximum buy-
up-to price for Myanmar Metals at 7 cents.
This represents a market capitalisation of
$31.7 million. In this case, if the share price
trades above the maximum buy-up-to price,
DO NOT BUY.You should only buy if the
stock trades at or below that price.
ACTION TO TAKE
Buy 50% of your shares in Myanmar
Metals Ltd [ASX:MYL] up to 7 cents
per share.There’s a fair bit of resistance
around that level. I suggest placing a limit
order when buying. Buy the remaining
50% during the next capital raising. I will
let you know when it’s time to buy your
remaining exposure.

10
Resource Speculator – Recommendations
Company Name Ticker Code Date Tipped Buy Price
Current
Price
40% Stop
loss
Gain/Loss Comment:
Blue Chips Set to Surge During Sovereign Debt Crisis
Webster Ltd WBA 20/08/2015 $1.30 $1.37 $0.78 6.5% SELL ABOVE $1.30
Strategic Emerging Stories
Lucapa Diamond Company LOM 23/09/2015 $0.340 $0.265 n/a -22.1% Buy up to 30 cents
Otto Energy OEL 27/05/2014 $0.031 $0.042 $0.019 35.5% Buy up to 4 cents
Nzuri Copper NZC 23/06/2016 $0.165 $0.150 $0.099 -9.1% HOLD
Northern Minerals NTU 23/02/2017 $0.120 $0.120 $0.072 0.0% Buy up to 12 cents
HastingsTechnology Metals HAS 23/02/2017 n/a $0.245 n/a n/a Buy up to 8 cents
TNG Ltd TNG 20/04/2017 $0.130 $0.150 $0.078 15.4% Buy up to 13 cents
Australian Vanadium AVL 20/04/2017 $0.015 $0.014 $0.009 -6.7% Buy up to 1.5 cents
Far Ltd FAR 20/07/2017 $0.078 $0.068 $0.047 -12.8% Buy up to 8 cents
Resource Speculative Punts
Matsa Resources MAT 30/04/2015 $0.230 $0.215 $0.14 -6.5% Buy up to 20 cents
Axiom Mining AVQ 27/05/2015 $0.385 $0.220 n/a -42.9% Buy up to 30 cents
St George Mining SGQ 30/06/2015 $0.105 $0.120 $0.063 14.3% Buy up to 22.5 cents
Valor Resources VAL 29/06/2017 $0.009 $0.037 $0.005 311.1% Buy up to 1 cent
Buru Energy BRU 24/08/2017 $0.170 $0.220 $0.102 29.4% Buy up to 18 cents
Meteoric Resources MEI 21/9/2017 $0.040 $0.089 $0.024 122.5% Buy up to 4 cents
Myanmar Metals MYL 10/12/2017 NEWTIP $0.064 NEWTIP NEWTIP
Buy 50% up to 7 cents; Buy 50% during
next raising
Prices correct as at 12.48pm AEDT, 12 October 2017.

11
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