CRK - Carrick Gold

[exgeo]

Market cap. of $88m (95.5m shares * 93c). Carrick currently has a JORC resource of 25.7 Mt @ 2.44 g/t (2.01 MOz Au). At the Lindsay's/Parrot Feathers project in WA, about 40km from Kalgoorlie. Drilling with 2 RC and one DD rig from Jan 07. Drill hit at Lindsay's (outside current resource) 8m @ 29.6 g/t Au from 136m, 4m @ 50.2 g/t Au. A new resource estimate planned for end Feb 07. Planning a feasibilty study by end of Q2 07. CRK purchased a granted Mining Lease in the area in July 06 as a place to site a mill. This should speed up the process of going from explorer to producer.

I maintain an excel list of about 40 gold explorers and rate them in terms of market cap/oz of gold in the ground. CRK is the second cheapest at the moment. There appears to be considerable upside in terms of resources too and they are doing the drilling to prove this.

Other prospects (within 40km of Lindsays):

Richfield- Rock chip samples up to 138 g/t Au. Most are 2-20g/t. Drilling planned Jan 07. An old mine here produced 7800 Oz at 16.5g/t Au.

 

[cuttlefish]

CRK is the second cheapest at the moment.

which of course begs the question ... which is the cheapest?

 

[Sean K]

which of course begs the question ... which is the cheapest?

BDG now.

 

[exgeo]

The cheaper ones I wouldn't consider due to political risk- once bitten, twice shy!

 

[watsonc]

Ann states a resource upgrade by 31st Jan 2007, and an independant's view on all resources by end of Feb 2007. Possibly upside yes.

 

[kransky]

The cheaper ones I wouldn't consider due to political risk- once bitten, twice shy!

come on... some of us are more foolish.. tell us

 

[blobbob]

they are aiming for 5.5 moz within 18 months,

 

[Sean K]

Can't see too much on the chart yet. Few support and resistance lines springing up.....On the watchlist. Thanks exgeo.

 

[exgeo]

No idea about the technical stuff. It's just one of the cheapest gold explorers working in Australia. It's a pretty thinly-traded stock. I read somewhere they got the brokers backs up by not going via a broker when they listed. So the payback is that none of the brokers follow it. This is good for those willing to do their own research of course.

 

[dubiousinfo]

It's a pretty thinly-traded stock. I read somewhere they got the brokers backs up by not going via a broker when they listed. So the payback is that none of the brokers follow it. This is good for those willing to do their own research of course.

Patersons underwrote the 20c opies that recently expired on 31 December. So I guess at least one broker is following it.

 

[exgeo]

The stocks I found that are cheaper on a market cap/oz basis are GCR, FML and KMN. However, this was calculated back to a gold-equivalent resource, these two are not pure gold plays, they are copper-gold deposits, KMN in South America somewhere and FML near Coolgardie in WA. I imagine FML are even cheaper now after today's resource upgrade announcement. GCR is operating in NSW.

 

[watsonc]

Some news! Gold in every hole!

 

[exgeo]

Drilling at Parrot Feathers increases gold grades and the width of mineralised zone. Drillhole 322 is the northermost on the Parrot Feathers trend. Therefore the mineralisation is still open in this direction. It will be noted that these intersections are much higher grade than the currently reported JORC resource (25.7 Mt @ 2.44 g/t for 2.01 MOz Au), boding well for resource increases in terms of both tonnage and grade in the future. Deep diamond drilling is in preparation with an RC hole drilled as a pre-collar, to test for extensions below the current intersections. Intersections listed below are in the range 60-150m deep (open-pittable depth).

· PFRC 306 2m @ 28.29g/t Au
· PFRC 308 1m @ 16.84g/t Au
· PFRC 310 3m @ 14.71g/t Au
· PFRC 314 1m @ 7.90g/t Au
· PFRC 316 1m @ 7.80g/t Au
· PFRC 322 1m @ 21.59g/t Au

 

[exgeo]

The eponymous Frank Carr buys 100,000 shares at 98c to bring his holding to 44.5m shares (46.6% of the company). That's what they call aligning management and shareholder interests!

 

[kransky]

Anyone know what is going on with this stock? its going gang busters today.. up 20% today... ??? someone ramping it on another forum?

 

[Sean K]

Anyone know what is going on with this stock? its going gan busters today.. up 20% today... ??? someone ramping it on another forum?

Exgeo's buying it.

 

[exgeo]

Ha, ha, past tense actually, bought at 86c a few weeks back.

 

[kransky]

in at 94c right behind you exgeo

 

[exgeo]

Gold Resource Up by Over 30% to 3Moz

New resource is 31.6M tonnes @ 2.97g/t gold (for 3,000,299oz of gold). Lindsays resource is open in 3 directions, north, south and at depth (eg/ 7m@5.13g/t Au on the northernmost drill line, announced on 10/1/07).

 

[exgeo]

Parrot Feathers
Announcement today of a diamond drilling programme to check for mineralisation continuity at depth. The holes will be sited outside of the existing resource, so any gold intersected should add to the JORC resources. RC drilling at the same time is finding extensions along strike in other areas.

Lindsays
RC drilling is planned to follow up soil sampling anomalies that indicate that the resource extends at least 150m further north. A water-exploration drillhole gets 8m@ 2.48 g/t (from 40-48m) and 4m @ 2.06 g/t from 88 metres (open pittable kind of depth). It is the southernmost drillhole of all recent drill programmes, indicating the resource is open in this direction.