RE: Progressed8 Feb 2021 18:57
Well firstly, I only think EEE has slipped back because I think a previous investor with a lot of shares is reducing their holding. I don't know this but it's a feeling I have. I do think there is a lot of interest in EEE and more and more people are looking.
The shallow depth and grades of the results so far are really eye opening and some of the best I have seen. Hence the reason MS leapt at the deal in the first place. He knew! With the gold price as it is, the shallow depth will make for cheap extraction and big profit from the get go.
Zak Mir has covered this twice recently on Share Talk and has 6p for the end of this month and then 10p later in Q2 as his 'technical' targets. They are just technicals of course and do not take into account new RNS'd info.
I was late to EEE and only became aware in October-ish time. Clearly there are a lot of LTH long suffering Georgia mining holders who know all the history, so hats off to them. Hopefully they are about to get some of their money back! Amen to that.
I have bought at prices between 3p and 4.2p. I added quite a few at 3.4something last week. I think fuller assays from the 2nd phase will take us above 5p. How much above will depend on how good the grades are ( Houdini and Jack's dream...). then there will be the usual trading and we will find out about Zak's 6p resistance.
We expect a new CEO and want a guy with experience running a gold mine in Aus. I hope we get an Australian and the get some nice options north of 5p!
If we get a timeline on maiden JORC with these results then it could become fun and 6p could get tested. A good JORC and 8-10p come into play.
I'm not in a hurry with this. Don't get these opportunities too often. Great location and asset. Safe jurisdiction. Skilled labour available. Gold looks strong for medium, even long term for me so this really should justify a 30-40 Mcap with Georgia and Candelaria (producing next year!) cash to come.
READ all the recent RNS's if you haven't and if you have, read them again if you are thinking of hitting the sell button. I have. GLA BH
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