Gulf Resources - GLF - exploring for gold/base metals in north queensland.
Have a market cap of only 5 million, cash in bank about 1.7 million. Have just secured a placement of $2 million to fast track drilling. The intial results look very promising too.($2 million placement at 26cents - not even a discount to the sp!!)
Interesting thing about this one is that although there hasnt been a lot of trade since it listed, the directors have been buying up at market in a very big way.
And from the announcement this morning re the placement, the compnay has said that "In addition, these funds will facilitate an acceleration of our strategy of providing shareholders with an opportunity to participate in uranium exploration activities”.
So another one looking for uranium. Such a small market cap, and now some serious money on hand, this is one to watch IMO.