Hi guys, has anyone else got behind this one?
I bought into it today after seeing a huge spike in volume yesterday. After doing some research i thought it was worth backing. An announcement is due any day now with the assay results of the weednana project. This may explain the shift in volume. Market capital is very low atm. They are drilling for gold atm but the wild card will be uranium. Management appears to be quite experienced (they are revisiting sites they previously looked at in the 80's...).
Company was listed on 19 June 2006 and was oversubcribed by $1mil (shares at 20c). Price closed at 40c today, spiked to 45c yesterday.
Trafford Resources Limited (TRF) is a gold, copper and uranium exploration company, with the projects located in South and Western Australia.
Wilcherry Hill Project (option for 100%):
The project is located 30 km north of the township of Kimba on the northern Eyre Peninsula of South Australia. At the Weednanna Prospect drilling returned 7m @ 18.5g/t Au and 13m @ 6g/t Au. Diamond drilling at the Telephone Dam prospect returned 4m @ 17.2% Pb and 8.9% Zn and 6.m @ 8.9% Pb and 6.4% Zn. At the Mawson prospect 29m @ 0.9% Cu were intersected. Trafford also believes project is prospective for Olympic Dam style uranium deposits. In regards with exploration, the Company intends to re-analyse selected samples from past exploration program for uranium content. At the Weednanna Prospect, RC and diamond drilling is planned.
Lynas Find Project (option for 80%):
The project is located 100km south of Port Hedland in the east Pilbara region of Western Australia and is prospective for gold. Trafford proposes to explore for the extension of existing resources and also for new gold resources within the area. The objective will be to create a gold resource inventory such that a feasibility study may be undertaken. Previous drilling intersected 10m @ 9.07 g/t Au and 6m @ 2.2 g/t Au. Company intends to conduct study of all available mine plans and exploration data, with a view to commence drilling on those targets, which offer the best prospect of increasing gold resources.
This is an interesting article from a few months ago: http://www.smh.com.au/news/Business/...956466300.html
Here's an interview from 27/09/06 http://www.brr.com.au/partner/minesi...TRF/2010/15541
Anyone have an views on this one?? If the announcement due doesn't go well the other projects should get the price back up after the drop (as they are more promising than the current)