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Red across the market. Topping up on wishbone at these prices. Waiting for the 45 day option to be executed and hopefully see a sharp rise north in sp
Hi Trek, I did have some ROCK, but after re-reading their latest drill results decided to bail. Can't remember exactly the details, but they still seem to be hunting for decent grades and implied they might be at depth, but on the picture in the RNS the grades seemed to be getting worse as they went deeper. So where are the good grades to come from? Have a look and see if I've completely missed the point.
Frustrating to see this declining. Seems we have a bit of risk off until the US election is out the way next Tuesday, so gold stocks should begin to strengthen again in a few days. Still, at least it gives me time to finish more of my gold sector research while we're waiting. ATB
Hi Phoebus,
Thank you for you comments. I have since added ROCK to my list and taken a small position there.
EEE results out today, not brilliant grades but for me the key bit is the find. The RC drilling and more importantly the location tech which is the same process that we will use. I don’t hold EEE nor do I hold PALM, I thought PALM was far too expensive for where they are and the sp has soared so wtfdik! Lol!
Anyways here is on a timer, imo they’ll grab it. I will then need to dig through the finances.
Atb
Trek.
Happy to wait it out until news lands and hopefully be well rewarded
Had a stop loss At 6p but taken it off, now currently below my average. Just topped up another 5,000 shares.
Sit on hands :) hopefully we will get the Patterson contract signed within weeks.
I can see this board is dry and that's not a bad thing but 50p? Its lowest after consolidation was over a 1p.
Is this share really that risky in comparison to the upside?
While we wait, but for how much longer. As I have posted I feel it would be unlikely that this would go to the wire. They would no earlier than the 45 day option time and if it was good news RP would want to get on with the business, and were it to be bad then take it on the chin and continue with other projects. If no then we could be down 50pc, but if yes then an initial 10p - 12p. After that a steady news flow would see further upward movement. All a guess really but if in the market to make money then chances have to be taken on whatever news there is and a gut feeling. Easy really.
I've looked at all of those already Trek except for CCZ as it seems primarily copper. They all have their relative merits, but my favorites of this lot are WSBN and ECR. WSBN is very close to Telfer and Havieron and ECR is closest to Fosterville and Ballarat, so both look to be in excellent postcodes with ECR the pick of the Victoria stocks and WSBN the pick of the Pilbara/Paterson stocks. THR is already nearly £20M which makes it the most expensive Aussie gold explorer ex-GGP yet its still very early stage. THR is Pilbara, but last time I checked it's about 250km from Havieron, whereas WSBN is only about 20 miles from Havieron and 6 from Telfer. PALM's exploration plan looks slow. COBR seems hundreds of miles from any really chunky finds. EEE are selling Georgian assets so perhaps they will get more Aussie acreage. Need to wait and see what happens with Rincon IPO for GUN.
Just digging around Oz LSE Smallcap miners, a very brief summary. Scores are my view only. Does anyone have any others?
All funded but will need to raise again to progress assets.
COBR, Cobra Resources, £6m, 3.1p 5/5. drilling now. 4 x IOCG targets at Wudinna, SA, also Prince Albert Copper in WA. Both have inferred resources from previous exploration. Funded by cash and warrants. Buying sub 4.5p is imo a bargain.
THR, Thor mining, £13m 1.1p 4/5. Awaiting assay results and aeromag interpretations for 100% owned Ragged Range. Have gold in pan, need to narrow down drill targets. Also other Tungsten/Gold/copper plays in Oz and acreage in USA. Just placed, Metal Tiger holder.
CCZ, Castillo Copper, £27m 2.6p 4/5. recently IPO’d, funded. Mostly copper, nickel, zinc maybe gold. All Oz. Excellent Geo at Mt Oxide, about to drill, Arya, a huge anomaly and the Big One, supergene Cu deposits. Also Zambia.
ECR, ECR minerals, £17m 2.8p 5/5, Copper gold, rig arrives Oct to drill Creswick & Balieston. 100% owned in Victoria. Tambo gold licenses in Eastern Victoria. Just raised July, JV likely. Awesome postcode, Newmont next door! Also Philippines & Argentina. Alan Green’s stock pick.
Empire Metals, EEE, £11m, 3.4p 3/5 drilling Eclipse & Houdini project in WA. Soil samples have identified two more gold targets. Just placed in Sept. PGE JV with Artemis, legals, Oz. 50% JV in Georgia Cu/Au assets some licenses pending, legals. I don’t hold
Wishbone Gold, WSBN, £9m, 7.3p 4/5, investor just bought 3%, funded following restructuring has 45 day option on Paterson Range assets near GGP Haveirion acreage. Also Wishbone 2, mine nearby 2km sold for $300m and White Mountain in Queensland. Cashed up and 94% of warrants exercised at 3p. Have contracted Terra Search, local so no covid issues to drill by end of year.
Panther Metals, PALM, £6m, 12p 2/5. Listed on main market and only has 56m shares in issue. Main market rules restrict annual dilution to 20% but that doesn’t mean they wouldn’t dilute and re-list on AIM. Assets in Canada, ‘big bear’ & ‘dotted lake’ doing aeromags. Acreage in Northern Territories Oz, desktop, could be good. Financed. Early stage, expensive atm. I don’t hold.
Gunsynd, GUN, £3m, 1.01p - invests in oil/gas/ holds some Oz junior miners etc. Not for me.
GGP 5/5 enough said!
Not in Oz but my biggest holdings are GRL, SGZ, PUR and SHG on my buy list.
Usual caveats,
Trek