GOR up 30% for the day! Whoohoo, something must be on the cards!
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GOR up 30% for the day! Whoohoo, something must be on the cards!
Something's afoot - GOR's sp climbed quickly this afternoon to close at 9c. I'm getting itchy fingers but will wait until this current upward momentum falls away (Friday?). Resistance at 10c will be a challenge.
Cheers Daytr - no doubt you will sleep better tonight.
BC
Diggers and drillers have put a sell on PGI tonight. At a low, tomorrow won't be good ,... a new low methinks.:(
Yeah brillant from the DOC that had PGI a BUY @ 20c and now after falling all the way to 6.5c is now a SELL.(no doubt after selling all of their shares)...my mate gets their newsletter etc I've read a few they also do the "Daily reckoning" there picks have been very poor yet many still listen and follow their advice ....I would love to see PGI come out with a great announcement in the short term "Qtr report coming out soon ...
I personal can't see me selling on the DOC's advice
-Why appoint a new CEO to the tune of $400K a year, plus incentive shares, if we are only going to be a marginal producer
-spend over 100mill on the plant/process ....
-the Fact is PGI is moving at a snails pace to many investors but is still getting better results every Qtr .....First Qtr 2014> 6mill gross less net costs 2.5mill =3.5mill gross profit (whats the bet they'll bet it,,a smart 400k CEO would want too )
PGI is now at a price that gets my attention - their last financial report was not so bad:
Rev : $18m plus other income of $13m (2012: $60k). $3m per month of revenue was only 40% of what was anticipated due to undersized agitators slowing down La Lugunas (fixed in July).
NPBT: $520k (2012: $1.5m loss)
EPS: 0.07 (2012: 0.23 loss)
Total Assets: $107m (2012: $112m)
Total Liabilities: $69m (2012: $77m)
Cash reserves have halved from $7.4m to $3.7m and so looks like they need to raise some more working capital (operating costs are $2.2m per month). Otherwise, they are looking good now that most design deficiencies have been resolved.
Technically, the past two days have seen the sp recover from a sell off to end each day with a higher low.
Yes, could well be time to buy.
BC
Trading halt BC! I knew something was up! I never stress too much about these things. If I ever do its usually because I know I am in a stock I shouldn't be so a good indicator to get out! Didn't stress about GOR as I know the story is good. Let's see what Monday's announcement delivers!
This is huge for GOR!
BREAKTHROUGH GOLD DISCOVERIES
CONFIRMED AT DOROTHY HILLS
Highlights
First Reverse Circulation (RC) drilling programs at Gruyere and YAM14
targets along the Dorothy Hills trend have both confirmed significant
gold mineralisation
Infill and extension RC drilling program scheduled to commence shortly
at both Gruyere and YAM14
GRUYERE
Gold intercepted in every drill hole, over almost the entire length of the drill
holes
400 metre strike length, is up to 165 metres wide and to a vertical depth of 88
metres
Mineralised gold zone open along strike, at depth and to the east and west
8 RC drill holes for 609 metres were drilled on two lines, 400 metres apart
Best gold intercepts (at 0.5 g/t Au cut-off) included:
52 metres @ 1.23 g/t Au from surface, including 16 metres @ 1.61
g/t Au (13GYRC0010)
40 metres @ 1.16 g/t Au from 32 metres, including 12 metres @ 1.84
g/t Au (13GYRC0011)
Highest individual composite assays were:
2 metres @ 3.23 g/t Au from 100 metres as a 2 metre composite
sample from the end of the deepest drill hole (13GYRC0011 – hole
ended in highest grade mineralisation intersected in the program)
4 metres @ 2.95 g/t Au from 36 metres (13GYRC0011)
4 metres @ 2.77 g/t Au from 20 metres (13GYRC0010)
YAM14
Gold intercepted in every drill hole
Mineralised gold zone open along strike and at depth
200 metre strike length, is up to 75 metres wide and to depth of 80 metres
9 RC drill holes for 1,131 metres were drilled on three lines 100 metres apart
Significant gold intercepts (at 0.5 g/t Au cut-off) include:
16 metres @ 2.06 g/t Au from 48 metres, including 8 metres @ 3.27
g/t Au (13GYRC0004)
4 metres @ 7.70 g/t Au from 56 metres, (13GYRC0005)
12 metres @ 1.27 g/t Au from 44 metres, including 4 metres @ 2.28
g/t Au (13GYRC0008)
8 metres @ 1.73 g/t Au from 88 metres (13GYRC0003)
2
Gold Road Resources Limited (
Gold Road or the Company) (ASX: GOR) is pleased to announce that it
has discovered a new trend of gold mineralisation in the first-pass RC drilling program on the Dorothy
Hills trend, at both the Gruyere structural target and the YAM14 Redox target, within its 100%-owned
Yamarna Gold Belt, located in the Eastern Goldfields of Western Australia (Figure 1).
Gruyere and YAM14 are the first targets at the Dorothy Hills trend to be RC drill tested.
The discoveries are approximately nine kilometres apart and appear to confirm the potential of the
Dorothy Hills trend for further significant gold deposits (Figure 2).
The Gruyere zone of mineralisation, which is open ended, is interpreted to have at least a 400 metre
strike length, up to 165 metres wide and to a vertical depth of 88 metres. YAM14 is also an open ended
mineralised gold zone over a 200 metre strike length, up to 75 metres wide and to a vertical depth of 80
metres.
Gold Road’s Chairman Ian Murray said, “The Dorothy Hills trend is an exciting new gold discovery area
for the Company and we are very encouraged with the width of the gold systems discovered at both
Gruyere and YAM14 targets. We have not seen these types of wide gold intercepts before on the
Yamarna Belt and this opens up the Belt for new styles of gold mineralisation.
The success of this initial program warrants further drilling. A second RC drilling program will commence
shortly at both Gruyere and YAM14.
Our regional targeting strategy to discover multi-million ounce deposits highlighted both the Gruyere and
YAM14 targets, together with around another 40 priority structural and Redox targets within our ~5,000
km
2 tenement holdings. We are very excited that the first-pass RC drill program at our first two targets
has discovered significant gold mineralised zones and we look forward to drill testing further prioritised
targets”.
Gotta love that BC!
Yep. Buy on rumour - sell on actual. Thanks Daytr. When the sp dropped to 6.8 I was wondering just how it would turn out, but your tip did come thru. I took profit this morning and have used the funds from my sale to buy again into TRY and AQG (both low cost operators which will survive better than most any further drop in the POG).
Plays like GOR, AZS and the dead cat bounce on MBN the other day have kept my head above water, countering what is now a full month's slide on most other mineral stocks. Technically, it's screaming for a counterpunch. This week?
BC
I only sold out a 3rd, I think there is much more to come on this baby & I even think once the significance of this initial discovery gets around the market the SP will get another kicker. Anyway well done BC!