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Fantastic news, realistically were do people see this SP potentially going too.
Oh Heaven's Above. Reasons to love LEX have all come true.. So management were expecting up to 100k oz at JK. They've got 127k. Resource grows by 255% and we still have more upside here at depth, along strike and with the new anomalies, not to mention potential acquisitions close by.
MMs mush be s******* themselves this morning.
A fantastic JORC which also suggests that resources could be increased further once more drilling has been undertaken. This share is going to fly!
Total JORC Resource estimate for JKL Project up 155% to 210,800 Au oz
* 155% increase in contained gold for the combined JKL Project comprising:
o Total Inferred Resource of 6,976,000t @ 0.94 g/t Au for 210,800 oz of
contained gold
* Maiden independent JORC (2012) Mineral Resource Estimate for the
Jones-Keystone deposit:
o Total Inferred Resource of 4,380,000t @ 0.91 g/t Au for 128,000 oz of
contained gold
* Potential for mineralisation at Jones-Keystone remains open down-dip, to the
north-east as well as to thesouth-west
* Potential for further increase in resources at Jones-Keystone as well as
Loflin and Loflin South through additional drilling
* 3D Geological modelling and drilling delineated a NE-SW shallow plunging fold
structure that probably controls gold mineralisation
"We are pleased to announce that this maiden JORC resource estimation of
128,000 gold ounces for Jones-Keystone, which forms part of our JKL Project,
has surpassed our expectations. When combined with the existing JORC resource
for Loflin, it takes the total JORC mineral resource estimate for the JKL
Project to over 210,000 gold ounces, which is a significant achievement for
Lexington Gold.
"As previously reported, the JKL Project exhibits significant shallow
mineralisation with grades of up to approximately 10g/t gold achieved as well
as multiple intersections of 20m+ mineable widths, including 34m at an average
grade of 1.75 g/t gold. The mineralisation at both Jones-Keystone and Loflin
remains open down-dip and along strike with the potential to further increase
the resources via additional drilling".
1. Dollar Bottom?
2) Gold Price upwards reversal?
3) Market Makers hugely short.
4) JORC reserve on Jones Keystone up to 100K oz expected to land anytime.
5) Gives us close to 200K oz.
6) This is easily a commercial smaller mine already, so money in the bank. Either we develop or sell
7) Still open at depth and along strike at JKL and new anomalies yet to drill.
8) 3 more prospects, one of which (Jennings Pioneer) had mining nearby (Barite Hill) as recently as 1996 when gold price collapsed.
9) Management being shown other interesting opportunities in other "well respected jurisdictions".
10) Last but not least, we are still awaiting a maiden report from broker WH Ireland which will open LEX up to a whole new market place, not just the old diehards!
Intriguing, to say the least!! Looking forward to a very active week in our fave stock!!! If JORC report at JK is over expectations, given the supply demand situation, I won't bet on the outcome, but am sure patient holders will be VERY happy with it!!!!
Actual spread 6.43 - 6.75 just before close. Feels like November is going to be very good to us
Tried to add at 6.6p and nothing available. They seem to want close to 7p for any stock
This could really run higher next week if JORC upgrade lands
Yep and Ask has now jumped on no trades. You know MMs in a very sticky spot. This one's only going one way...
Re my message yesterday, I meant 250K not 25K. Also worth noting that the Dollar has been weak over the 2 weeks or so.. There is a good chance it has topped! Also gold has begun to see this and the price has risen by $120/oz. Gold chart short to medium term shows a triple bottom at the 1620 to 1630 level. Support now at 1720-30. That can't be bad news for LEX holders, and we've got the keenly anticipated JORC announcement anytime.....
6.2 to 6.3 bid , if anyone can refute that the MMs are short after having bought 25k shares, I am a Dutchaman!! Having said that, it a pretty good sign that they are covering, they need to square the book before they suddenly realise that the game is over, we're off on the next move up... Don't be short MMs...
Burtom, I think that you are asking the converted, we all want it to go up more than this and think it will. So my biased answer is, for what its worth, definitely yes, get on board. See my recent posts below if you want reasons, and don't forget that LEX is being shown deals in well known locations/jurisdictions for this kind of thing and by the looks of things, not just in the good old US of A. Take me with a pinch of salt but I am nowhere near a seller of this one... Plenty more to cook here. We're just warming up.
The short answer is yes, 52 week low at 1.8 would have been fantastic, but alas I had no funds at the time. If we all knew the definitive highs and lows I guess we would be billionaire's RODDERS
Good luck
Do fellow investors feel that 6.5p is a good entry price or even top up price now?
“…With money in the bank after an October fundraise and the imminent prospect of a maiden JORC Resource for a flagship project can LEX go higher?…”
https://total-market-solutions.com/2022/11/lexington-gold-ltd-6/
Yes, I remember the last broadcast he did which was also pretty bad, they say any publicity is good publicity, but frankly, I am not so sure!! Having said all that, I continue to hear rumours about LEX stock not being delivered on time which, if true, pretty much confirms that the MMs must be short. Has anyone else heard the same or experienced it? Seems we took a rest yesterday after the exertions of the last couple of week. I think, given the putative short position of the market, LEX will be very well supported at current levels while the MMs sort themselves out, unless someone decides to take matters into their own hands and put the squeeze on.
Still await the JK JORC which will hopefully emerge very soon. And yes, I like the idea of filling the gaps. I'm a chartist at heart, however, I tend to be a little more sceptical of technicals in smaller cap thinly traded stocks, though hopefully that is about to change as the stock rises. I am sure that some old holders will wake up to the fact they have made some cash and put their forgotten holdings on the block! Longer term though, more liquidity makes LEX more attractive to investors.
Talking about more attractive to investors, we are still waiting for W H Ireland to join the party though I am sure that soon after the JORC announcement, it will make eminent sense to get things moving in this regard... A major broker recommendation in this stock could take it a hell of a long way......
Good to get some publicity but Alan Green is shockingly poor at articulating Lex's investment case. Podcast full of inaccuracies and barely stated the newsflow we're awaiting.
Few days breather before next push? There's a gap at 6.5 - 7p from 2018. Will fill as soon as we push through 6.5p. First target would be 8.5p at that point. Book here is incredible.
Very exciting. Alan green giving a lovely summary and very upbeat for the future on LEX.
If you truly look into it, this is fallacy for 99% of cases. The aim market cap hadn't budged much in 15years so the majority have stayed static (overall) but we all know new money has entered over the years so lth likely down. I believe lex has huge potential (been invested a while and have built a decent stake) but if someone took a profit, particularly in today's market, I wouldn't question it.
For me the book here in recent months has completely changed, very little available, but appetite still there so I'm holding on for higher.
This is the reason most PI’s don’t make any money…… selling your winners and holding your losers. The worst trading strategy there is. A friend of mine bought Apple shares in the early nineties and sold them soon after for a 40% profit…..he has regretted it ever since!!!
Exactly Paris, slice as we go up. In all honesty tho, if you get out at a profit then that's great in these markets
Agree Lyddon, but why would you sell now, top slice, 10 % etc etc, I get that but why sell now unless you absolutely had too
The share price momentum shows no signs of stopping, a few sellers about today which is understandable after the recent percentage share rise but there are still are buyers prepared to hoover up this stock and not let the short MM’s cover their positions. Monday should be interesting?
Seems most miners are well up today, so probably that plus the RNS JORC expectation is helping push us up. Even giants like Rio are up about 8% which is unusual.
Crazy how small buys are ticking us up. Wait to the volume hits...
Honey the Jam's arriving soon, have we any cream in the fridge to put on our scone.