- 13 January 2010
Making us wait til Thursdays a bit harsh!
The last MRE was released in July 21. There's been three assay announcements since then drilling 50,000m with similar results as below and one new high grade discovery. So, you'd think they'll crack 2m ounces at around the same grade. That's quite significant.
Looks very promising. Shaw have a price target of 21c on it. The CR might create a good entry point if it pulls back a little when it starts trading again.
View attachment 137718
$20 million will keep them going for quite a while and 8c is a reasonable CR price IMO. Based on what I have read, I still think this is great value around 8c and I'm seriously considering jumping on board.
These high grades are just rock chips so nothing too exciting to me. It does make their tenament seem likely to host some additional ounces though, so need to follow up with drilling. The vein hosted stuff is very high grade but needs selective mining. Would prefer to see more wide hits in the BIF really.
Ooops, can't attach the announcement, will do so once the system is back up and running.
Might only be rock chip sampling but the results look very encouraging nonetheless. Can't ignore grades like that. Strong cash position too with $17.4 million in cash as of June 30.
This one might come good eventually but probably not this month.
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