RW making a presentation next week on the company's drilling results at one of those resource company events. Not likely to do anything for the share price, presentations rarely do unless they contain something radically new but at least he will get before an audience interested in juniors.
Company's fortunes haven't changed since the SP was 12 cents last year so one can understand the disappointment of many shareholders. Truth be known the potential of the assets has actually improved since then. But the trading volumes are small and would only take someone wanting a larger stake to send the SP back up again.
Lot of competition out there in the gold space and a lot of skilful promoters dressing up deposits and drilling results nowhere near as good as Break of Day/Lena. Only so much speculative cash to go around and a lot moving now from graphite/lithium to cobalt plays, most of them rubbish.
With Musgrave the shallow Lena intersect could be key if it turns out to be another lode. No reason why the serendipitous intersect is at the widest and best grade of the find, drilling could show bigger and better intersects or the opposite. Lodes are a characteristic of the eastern goldfields so lets hope this is what it is not a nuggety pod.
I am told drilling will start on schedule in early March with first results in four weeks ie end of MArch early June. Company has $2.5 million left mid Feb.
Its a case of wait and hope the confidence we have in RW is eventually rewarded.
Still think Ramelius could be closely watching developments along the Break of Day shear given that its Blackham pit is at the south western end of it and new pits just along the shear could be very attractive to it. RW said he couldn't comment on that when asked if there was any contact.
MGV Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
