RGL - Riversgold Limited

[System]

Riversgold Limited is a gold exploration company with highly prospective projects in three world-class gold terrains: Tintina Gold Belt in South-West Alaska, Eastern Goldfields in Western Australia and applications for a number of mineral tenements in Cambodia. The Company has drill-ready targets and an experienced Board and management team with successful track records in exploration, development and production.

It is anticipated that RGL will list on the ASX during September 2017.

http://www.riversgold.com.au

 

[barney]

RGL came up earlier in the week as a Top Riser ..... I put on a note watch announcements as I liked the Projects etc after having a quick read over it.

The second phase jump today was a bit quicker than I had hoped but it does confirm my assessment and I now have it as a firm BUY but only if I get a suitable retracement.

Will do some more research and post up pros and cons shortly as it is now firmly in the "Probables" list

 

[barney]

I have to honest I was reading up on this in the wee hours of this morning and really liked some of the results but got a bit hesitant when I saw how close the announcement for the start of their Farr Jones project was (21st June 2018) … to the date of the announced result from the same project (2nd July 2018)

They said the drilling would take 2-3 weeks … so I was perplexed when they actually had assay results to announce just a week and a half later ….. bludy good assay results though

They had either started the drilling well before the announcement or they have close friends in the assay lab … That is not out of the question by the way given the credibility of the MD Allan Kelly who I believe is a bit of a heavyweight in the industry

So not being familiar with the Company I simply bypassed further research and headed elsewhere.

Todays price action even though on low volume made me revisit the research …. more to follow ...

 

[barney]

Some nuts and bolts:-

Market Cap …. even accounting for todays rise ... around $6.5 million … so small ..

Cash on hand … as at the March Quarter … over $3.5 million …. nice MC to cash ratio which is one of my favourite Spec conditions of entry !!

Projects etc:- to follow ...

 

[barney]

Some results of recent and current drilling …. Announcement 8th June 2018 …

Not mind blowing, but solid results and multiple hits from multiple levels = ++

HIGH-GRADE GOLD RESULTS FROM CUTLER RC DRILLING
• Cutler RC drilling intersects high-grade gold and 500m long mineralised structure

• Results include 3m @ 6.18g/t Au (CURC0002) and 4m @ 5.31g/t Au

Gold mineralisation was intersected within both the oxide zone and the interpreted basement structure with significant gold results from several holes including:

• CURC0001 – 2m @ 1.33g/t Au from 107m and 1m @ 2.64g/t Au from 125m

• CURC0002 – 3m @ 6.18g/t Au from 38m, including 1m @ 12.24g/t Au from 38m

• CURC0003 – 10m @ 1.30g/t Au from 97m, including 2m @ 3.86g/t Au from 105m

• CURC0004 – 7m @ 0.92g/t Au from 128m, including 1m @ 1.84g/t from 134m • CURC0005 – 4m @ 1.13g/t Au from 139m and 2m @ 2.13g/t Au from 147m

• CURC0008 – 3m @ 2.58g/t Au from 18m and 4m @ 1.09g/t from 87m

• CURC0009 – 3m @ 1.15g/t Au from 84m, including 1m @ 2.63g/t Au from 86m

• CURC0010 - 4m @ 5.31g/t Au from 30m, including 1m @ 14.95g/t Au from 32m

 

[barney]

Farr Jones results … Announcement 2nd July 2018

HIGH-GRADE GOLD DISCOVERY AT FARR-JONES
• First Farr-Jones drill hole intersects 3m @ 17.8g/t Au (incl. 1m @ 48.5g/t Au)

• Gold mineralisation extends over 150m of dip – grade increasing with depth

• 800m long soil anomaly indicates potential for significant strike length

The first drill hole, FJRC0001, intersected sulphide mineralisation and high-grade gold down dip from the historic drilling (Figures 2 and 4).

The gold grade appears to be increasing with depth as follows:

• FJB1 – 4m @ 1.4g/t Au from 74m (historic hole)

• FJR1 – 5m @ 1.89g/t Au from 96m (historic hole)

• FJR2 – 2m @ 4.71g/t Au from 143m (historic hole)

• FJRC0001 – 3m @ 17.75g/t Au from 182m, including 1m @ 48.5g/t Au from 183m

The second and third holes, drilled 100m south of FJR2, intersected similar sulphide mineralisation and returned results of

2m @ 7.49/t Au (FJRC0002, 130-132m) and

4m @ 1.43g/t Au (FJRC0003, 87-91m) (Figure 5).

Gold grade is also apparently increasing with depth on this section

Good results

 

[barney]

That's probably enough to get interested in a $6 mill Spec ….. but we know you want more

PS There are NO steak knives with this deal

RGL have projects which are about to start drilling in Alaska …

Managing Director (who apparently cut his teeth in the Alaskan Goldfields) said ….

"The Company believes there is significant potential for the discovery of a large multi-million-ounce gold deposit within its projects, such as those found elsewhere within the Tintina Gold Province. “

The Company has 3 Projects all 100% owned in Alaska ….. just 150 klm south of the 45 million ounce Donlin Creek Gold deposit …….

That wasn't a typo ……. 45 million ounce deposit just up the road … (Ok its a long road …. but it is 45 million ounces)

I couldn't help but be excited about the potential of this Spec minnow after all that … and that is how you should feel if a Spec is to turn into a non-Spec in the future in my opinion.

Will follow this stock with interest and hopefully get a chance to accumulate as time goes by

 

[Dona Ferentes]

mentioned in AFR as the company with the greatest gains since recent capital raising. Up 518% (at some time or other)

Bouncing along the bottom, pull in $750K at 1.1c in May. Usual suspects involved.

(PnD - AVOID)

 

[Garpal Gumnut]

mentioned in AFR as the company with the greatest gains since recent capital raising. Up 518% (at some time or other)

Bouncing along the bottom, pull in $750K at 1.1c in May. Usual suspects involved.

View attachment 106755

(PnD - AVOID)

What does (PnD - AVOID) mean @Dona Ferentes ?

gg

 

[Dona Ferentes]

What does (PnD - AVOID) mean @Dona Ferentes ?

gg

Pump n Dump as perpetrated by insiders (IMO), A Void is a space , such as the distance to be maintained between myself and such stocks

 

[hja]

Big move up coming. Hold on to your rides, trendsetters.

 

[frugal.rock]

A Void is a space , such as the distance to be maintained between myself and such stocks

I thought it was the distance between my 2 ears... depth a little thin, but a decent rise today.
Suspect sellers are getting thin.
You holding Barney?

 

[finicky]

Not a holder but came across it beiing 'pumped' by someone I follow on twitter whom I'm not sure about yet - i.e not sure he doen't come up with a case for an illiquid stock and then exit with the benefit of the publicity.

Haven't done any meaningful reading about RGL but my interest perked up when I saw it is investigating tenements close to Kalgoorlie. I think it has ground contiguous to Lefroy Exploration (LEX) there. Lefroy ripped highr over last two months. RGL another 'gold under cover' prospect neglected due to a salt lake? Like KWR is exploring at its Goongarrie lake. Obviously there's no reason to think there can't be gold under a salt lake that is in highly prospective terrain but understandable that such a feature might have been ignored in the past, with no surface expression to go by and absent more modern methods of detection. Maybe its been more problematic to mine near or under a salt lake even if a good deposit is found?

The chart seems worth a watch although personally I'm getting a bit sick of mining specs, need one to bolt before I get back my general enthusiasm.

Weekly

 

[debtfree]

RGL kept coming up in some scans yesterday and today, so I'm going to give it a go in the May Monthly Tipping Comp. Picked by chart only.

This time last year (May & June) it had a great run up in price, let's hope it does the same this year.

Highest close in 6 months // Stronger than the XAO over the past week // ST EMAs > LT EMAs // Momentum - Price moving up > 10d MA with volume // Time will tell.

 

[Tyre Kicker]

Anyone keeping an eye on this one?

Has some Lithium ground now.

 

[Stockbailx]

Anyone keeping an eye on this one?

Has some Lithium ground now.

RGL digging deep and coming up trumps. High grade Lithium @ Tambourah...

 

[Stockbailx]

RGL seeing further jumps in share price today up 34% on back of Announcement "Letter to ineligible Shareholders"

 

[Dona Ferentes]

yes, that Lithium keeps on giving (market updates)

Tambourah Lithium Tenement Granted

Highlights
• Tambourah tenement E45/5721 has been granted
• E45/5721 covers 95.4km2 and hosts Riversgold’s highly prospective lithium mineralisation
• Rock chip samples taken by RGL have reported up to 2.0% Li2O
• Results of recently completed rock chip sampling and mapping program currently pending
• Follow up field program to commence in early June to determine lithium mineralisation potential of the remainder of the tenure
• Grant clears the way for accelerating exploration and drilling efforts on Tambourah

 

[frugal.rock]

A decent smack of volume today apon mention of lithium again.

 

[frugal.rock]

Caveat emptor...