Phoenix Gold - PXG

[CMo]

Sadly, the funds were not there for me to participate. I'm pretty happy with my purchases from 24c down to 18c earlier in the year and still holding OA's from 10.5c

It would have been nice to top up though at 30c as I don't think we'll see that price for a while now (if ever!!). Just love the way Jon Price and the team keeps news coming and then delivers every time. Hopefully it's more of the same this time.

[soulman]

Sadly, the funds were not there for me to participate. I'm pretty happy with my purchases from 24c down to 18c earlier in the year and still holding OA's from 10.5c

It would have been nice to top up though at 30c as I don't think we'll see that price for a while now (if ever!!). Just love the way Jon Price and the team keeps news coming and then delivers every time. Hopefully it's more of the same this time.

Those were nice entries there CMo.

Sadly for me I haven't done too well on PXG. Holding on seems to be the best strat here. Lucky to have the opportunity to participate in the SPP.

For other gold coy, RDR and SXG seems pretty cheap too but I guess everything is based on momentum.

[CMo]

Those were nice entries there CMo.

Yeah, well the 24c was my initial entry back in early 2012 and had to watch it slide progressively down to 16 (i think). Since July, momentum as you mentioned seemed to come along and things have gone great since. Managed to average down on the way back up and then picked up the OA's for a bit of a change and partially based on JBmurc's bullishness.

Not holding any other goldies at the moment but will look into RDR and SXG. Ta.

[soulman]

RDR and SXG are 2 stocks I traded before and in the watchlist. Glad to sold all my SXG for a loss at 4.3 cents last week. Both have a fully owned processing plant already that have 10's of millions of dollars of value.

[trackers]

Well after my failure with selling down oppies to fund conversion then realising too late that I was ineligible for SPP as an option holder (oops, should have known...) back in today to the heads. Awesome results at at Castle Hill at depth


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From: Jon Price [mailto:JPrice@phoenixgold.com.au]
Sent: Wednesday, 5 December 2012 11:55 a.m.
Subject: Latest drilling hits significant mineralisation at Castle Hill

Dear All

Please find below the link to our latest announcement relating to drill results from our Castle Hill project

3 key things to keep in mind with the results. The widths are spectacular, the grade increasing and this hole is in an area where mineralisation of this quality was not expected. This 94m result at 2.6g/t from 88m could potentially be a higher grade ore zone that bridges 2 ore zones at Castle Hill stage 1.

These assay results are from 7 of 11 holes. More to come from stage 1 and drilling at stage 2 (10,000m) is well underway and we hope to release more results in early January.

This December, we will have the updated Resource and maiden Reserve to come.

Castle Hill continues to exceed expectations and will grow and, I believe with these results, the grade will climb.

To read the announcement, please click on the link below:

http://www.asx.com.au/asxpdf/2012120...ydwz44h360.pdf



Kind Regards,
Jon Price

--

Looking forward to seeing what resource these hits at depth add to the resource (currently over 1mil oz to 80 meters only)

[FarmerGeorge]

I thought this all looked pretty good - but down a cent on the day. Any ideas or some insight into the results that I am missing?

[soulman]

I thought this all looked pretty good - but down a cent on the day. Any ideas or some insight into the results that I am missing?

FG, I think the big factor is the sell down by the SPP subscriber.

The drilling result is not all that specs IMO.....

Maybe it will kick on from tomorrow. I have lighten a bit.

[FarmerGeorge]

Ah of course, not sure how I missed that small factor!

Would be nice if it did kick on but we may need to wait for updated res ource / erve

[FarmerGeorge]

Resource update has given PXG a wee spike. Unsure how sustainable it is given we're heading into xmas/NY and have a whole years worth of drilling ahead - however the EV / Ounce story might gain traction and see more of a push through. Picked up a few more today.

[trackers]

Topped up at 25c today... Pretty happy given that is a 20% discount to recent highly oversubscribed cap raising....

Castle Hill drill results pending and updated JORC resource next month