Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
From the four area drilling where we have no expanse and Rand gold bearing all expenses and know there is huge quantity of gold. So news any time. And we have our 600k oz of gold and we are looking some buyer for that gold. Even if we sell those resources for $100 per oz then it should give us $60 million which will increase our market capital by 10 times. So it's way undervalued and market needs to wake up.
Ghana projects The Homase/Akrokerri project is located in the heart of the Ashanti Gold Belt in Ghana and adjoins the Anglo Gold Ashanti's Obuasi permit. The Company announced a resource of 405,600oz in June 2010 from historical drilling results and increased this by a further 196,400oz in August 2012. The total resource is now 10.6 million tonnes at an average grade of 1.77 g/t for 602,000oz. GoldStone owns 65% of the Homase Licence and may attain an 85% interest upon successful completion of a feasibility study of any nature over the area. The Company owns 100% of the Akrokerri Licence. At the Manso Amenfi project, over which GoldStone has a joint venture with Asasemu Mining Limited, a trenching programme has commenced over prospective gold anomalies, some of which trend parallel to nearby well known gold-bearing structures. Trenches totalling 927m have been excavated and samples were taken at 2m intervals with assay results still pending. GoldStone currently owns 10% of the Manso Amenfi Licence and has the right to increase its interest to 85% in increments either by reaching certain benchmarks (achieving a Code compliant resource of any magnitude and a feasibility study) or after spending an additional US$2 million in exploration on the project. The Minerals Commission of Ghana has now granted a renewal in respect of the Homase, Akrokerri and Manso Amenfi Licences for two years, subject to GoldStone and its partners relinquishing non-prospective ground.
Gabon projects (Oyem & Ngoutou) The Oyem and Ngoutou Licences were drilled during the period under review and both hold the potential to host significant gold mineralisation. Both licences contain 15km long gold-in-soil anomalies with favourable geophysics and significant artisanal gold workings. Three diamond drilled holes (totalling 535m) were completed along two drill traverses, targeting a very small portion of the 15km long Ngoutou gold-in-soil anomaly. Best results included 16m @ 1.3 g/t gold (including 2m @ 5.6 g/t) and 33.5m @ 0.4 g/t in hole 13NGDD001 and 32m @ 0.4 g/t in hole 13NGDD002. Approximately 400m of the 15km long Oyem gold-in-soil anomaly were drill tested and high grade gold mineralisation in a 120m wide deformational zone was encountered along two drill lines. Best results included 2m @ 5.3 g/t (including 1m @ 9.5 g/t) in the first drill line and 2.2m @ 4.5 g/t (including 1m at 9.1 g/t) in the second drill line. Under the terms of a co-existence agreement concluded early in 2013, Ferrex plc undertook exploration work in the southerly part of the Oyem licence which included a nine hole diamond drilling programme directed at both iron and gold and a 400m by 100m spaced soil sampling programme focused exclusively at gold around the area of interest. Results of the drilling and sampling programme are expected early next year. Under the terms of the co-existence agreement with Ferrex, GoldStone will receive a 1% royalty on any iron ore produced by Ferrex.
Senegal (Sangola Licence) The 471 km² Sangola Licence, over which the Company has a joint venture with Randgold, lies in the south-western corner of the prolific Kenieba-inlier gold province. The Sangola Licence hosts the southern portion of a gold bearing shear zone, which controlled the formation of Randgold's 3.4 Moz Massawa deposit, 30km towards the north-east of the licence area. The licence area contains four gold-in-soil anomalies identified by GoldStone and four further conceptual regional target areas, identified by Randgold based on their expert knowledge of the area. Randgold commenced with drilling operations at two of the eight areas of interest during June 2013 and returned with gold intersects of 39m @ 0.67 g/t (including 2m @ 5.4 g/t), 27m @ 0.45 g/t, 2m @ 5.1 g/t (including 1m @ 9.9 g/t), 1m @ 8 g/t and 2m @ 0.7 g/t. These results however did not meet Randgold's filter criteria which require the potential for a deposit larger than three million ounces at an average grade above 3 g/t and it was decided that further work will be directed at the other six anomalies in the licence area in the search for such a deposit. Drilling has commenced at the Baraboye gold anomaly. Randgold plans to drill 4,200m along four drill fences. Results are expected early next year. Under the joint venture agreement with Randgold, announced in April 2013, GoldStone is not required to fund any exploration expenses in the licence area and has the benefit of relying on the extensive knowledge of its partner. Randgold is obliged to fund all costs up to and including the completion of a pre-feasibility study indicating that the mining of at least 1Moz of gold is feasible, which would earn it 51% of the joint venture.
Mate few posters brought this share in attention. And a lot of buyers jumped in as this is way undervalued. So price increased and then day traders took profit which wasn't huge but should make them feed for a day and got out. Now we are at same stage where we started so they are gonna jump in again to make more profit. ALO news is due that will take this future north. We will be winner any ways.
Mate my biggest holding ALO and here. PEG is way undervalued and I hold those since 28p and average down that will come good in short term as well. As they have £20 million order in book and Mcap is just under £5 million. Theny 3rd biggest holdings are PHE which is again amazing company and fastest growing industry as well.
I never mislead people. I tell what I see on L2 and research before my investment and I am so confident. If u here for day trade then u might go to casino where u can double Ur money or loss it all. But here in haven't lost any thing until u sell. And if ur invested then u should be confident on it investment that this will come good. Company is solid and have resources and way under valued.