Gold Road Resources Ltd ("GOR") - A new gold province?

[steve fleming]

Market Cap - approx $6m.

JORC resources of:
- 6.2 million pounds of U3O8 using a 100ppm U3O8 cut-off; and
- 749koz of gold @ 1.78g/t

EKM's JORC resource is part of the Thatcher Soak project majority owned by UNX (currently doing a scoping study on it).

According to RCR Research (http://www.eleckramines.com.au/reports/rr090820.pdf) a deal with UNX could value Thatcher Soak at min.~A$1.00/lb or approximately $6mil.

Therefore EKM's market cap basically equates to its uranium value, with no value at all being recognised for its gold resource.

Peter Strachan has done some research:
http://www.eleckramines.com.au/repor...August2009.pdf

Very interesting analysis from Minesite.com:
http://www.eleckramines.com.au/repor...kra-May051.pdf