Gold Juniors

[Daytr]

Thanks BC. Will take a look at CHN & get back. I remember meeting with Coventry at Diggers & Dealers a few years back & they were in demand then. Mind you gold was at $1650 or something at the time.

I might look at going to D&G next year. Its the best mining conference in Australia & good fun to as long as you are broad minded. Its in August in Kalgoorlie & its not cheap, but great place to meet a lot of the mining management. Let me know if anyone is interested as maybe we could look at an NZ investor contingent going together. We would get more attention that way. I know the organisers & can arrange good accommodation which is like hens teeth.

[JBmurc]

one of SOC issues will be cash wise ....if they could get a buyer for PMR they could free up 20-30mill ....most likely CR soon enough

-End of the day SOC is valued at 31mill

-JORC resource at Hobbs Pipe 1 intrusion is 650koz Au @ 1.24g/t – recent drilling includes 886m @ 1.2g/t; Conceptual Exploration Target of 3.2-4.6Moz Au......not valued at much at all by the market?

[Daytr]

Hey JB, I think SOC is reasonably valued compared to a lot of others. However I couldn't name one other explorer who has the possibility of making a 6M ounce discovery let alone multiples of that.

[JBmurc]

Hey JB, I think SOC is reasonably valued compared to a lot of others. However I couldn't name one other explorer who has the possibility of making a 6M ounce discovery let alone multiples of that.

SOC news out---Glad I doubled my holding to 94k ords manys thanks Daytr for bringing SOC to the ST team ....never thought I'd buy into the exploration PM sector but thought I'd look over the stocks on the thread >>> SOC IMHO looks like it could 10-20 bagger from here

Sovereign Gold Company Limited (ASX: SOC), through subsidiary Gossan Hill Gold Limited, is pleased to announce the discovery of high grade gold mineralisation outside of the Hobbs 1 Pipe, providing further encouragement that the Mt Adrah district will potentially host gold mineralisation additional to the current resource.
Drill hole GHD009 included an intercept of 10m @ 17.7g/t Au from 506m from a zone of narrow quartz veins, intense sulphide veining and alteration within skarn-altered rocks adjacent to the Hobbs Pipe 1 (true width not known).
This intercept included 2m @ 28.4g/t Au from 506m and 2m @ 59.4g/t Au from 514m.

this is only the start of the castor results talk round this could well be NCM Cadia BIG 10's moz

from HC-Castor is around 40 times the size of Hobbs. They drilled this from the top of Hobbs Pipe 1, several hundred meters away and still managed to intersect the pipe at depth and find a high grade zone ! Have to be extremely lucky to hit the 'juiciest' part of the deposit on the first hole and from such a distance.

Today's results back up the anecdotal evidence the old timers mentioned that Castor was previously shallow mined up on the hill at several ozs/t gold.

[Daytr]

No worries JB. I doubled up this morning. You in BC? Still a chance to sit on the bid at 21c. I think this will really start to go once word spreads.

[Bobcat.]

You in BC? Still a chance to sit on the bid at 21c. I think this will really start to go once word spreads.

I've taken a holiday all day (put in a garden). Just now have I seen the move on SOC and how sellers took it down to 21.5c late afternoon. Technically that price looks fine to me and so, depending on what happens overnight on the NYMEX, don't be surprised if I join you both on this one. Meanwhile, I'm happy enough with what I've seen on Gold Juniors SCI, PGI and MYG today. All rising nicely. CHN is proving stubbon but I'm confident there's value in their takeover and so will be patient.

BC

[Daytr]

Hey JB, one thing to be weary of having a big position, is that SOC is extremely illiquid. I am very bullish on SOC so may never be a problem, but just something to be aware of. I agree re 10-20 bagger its quite possible & with results like today & they continue getting more probable. Remember the old Probables vs Possible All Black trails? The Possibles always won! haha

[JBmurc]

Hey JB, one thing to be weary of having a big position, is that SOC is extremely illiquid. I am very bullish on SOC so may never be a problem, but just something to be aware of. I agree re 10-20 bagger its quite possible & with results like today & they continue getting more probable. Remember the old Probables vs Possible All Black trails? The Possibles always won! haha

Yeah for sure I do plan to lighten my load round 30c...free carry the other half for longer term 10 bagger potential

[Daytr]

MYG & SOC both doing well today, GOR off a bit, I unloaded some GOR two days ago to move more into SOC, still hold half b& may look to top up if goes much lower. Nice day considering POG down a little. Think SOC is gathering momentum, could be an interesting end to the week for this baby!

[JBmurc]

Yeah soc my only gainer today came close to reducing PGI position
Purely as its run pretty well of late.. And have the funds on the sideline for SOC really think
A big announcement is coming that will push it towards analyst valuations
Be good to be ready to pounce