AXG - Antipodes Gold [formerly GEL - Glass Earth]

[elZorro]

Yep, great press release overnight. GEL traded as high as 45c on the TSX, about 54c NZ at one stage.
This share is still an absolute bargain in my opinion.

Have a look at the press release: http://www.glassearthgold.com/s/News...eportID=510008

The image of the WKP area shows the magnetic alteration pattern that drew them there for more drilling. Every time they've drilled, they've found more gold, and keep repeating the mantra that this is a BIG area. How BIG? I've drawn a line around the altered space, most of which has not been drilled yet. It's roughly 3km long x 1km wide x 200metres of gold-bearing ore at various grades, so far as we know.

If each cubic metre weighs say 2 tonne, and the average grade is no worse than 1 gram per tonne (add in silver as a plus), then a back-of-the-serviette calculation comes up with 38Moz possible. This is being very optimistic, but if GEL has 35% of that, say 13Moz with a valuation of $200 per ounce in the ground, GEL has a possible MCap of $2600 million, or $39 per share.

We're many drills away from knowing for sure, but that's why I'll continue to hold this share.

[bermuda]

EZ and Vtrader,
I think we are going to enjoy our investment in GEL. Starting to look really good. A very savvy guy put me onto this one. He has given me 3 picks over the last few years. RPM ( ASX ) a 6 bagger, DIL,( NZX ), nearly a 6 bagger and now GEL. Unfortunately GEL has been slow out of the blocks but I am looking forward to big things.