Some thoughts on the Youanmi region.....
I missed the boat on SPX completely and while I caught the RXL boat early at 1cent I disembarked too early at 2.4c.This time round I have settled on two newer stories in the Youanmi region.
SRN which has held their ground for a while and has a great position on the greenstones and main structure further north of Youanmi.I took my first position at .oo5 and have added a lot since and on Thursday and Friday took a decent parcel of the SRNOB(1.8c exercise price and expiry of November 30th) People say to me that SRN have no money but the MD is funding the drilling from his own pocket which suggests he is very confident of some good assay results from the drilling which started yesterday.I anticipate that during the next weeks as assays roll in any success will see the heads up around 2.5c at least and the options in the money.They have plenty of incentive to push this hard as a company as option conversion will see $7M roll into their accounts ....no need for raising.
ARN,I've held ARN for a while because of their ground around SGQ at Mt Alexander and bought more on Tuesday after their exploration update which included their own structural interpretation of the region.see below
and then they went into a halt for an acquisition and I was stunned to see they picked what is probably the most sought after piece of exploration ground for gold in Western Australia immediately adjacent to SPX Penny West ground. (I have been watching that block like a hawk to see who would manage to prise it from the hands of the existing owners.) The important things to note with that ground is that the owners pegged it years ago (long before SPX run) and that it has the smae structures and host rocks and some old hits of 35g/t at shallow depth. Furthermore they picked up some other ground in the area right next to SRN which like SRN is traversed by a number of shear zones.
I think both ARN and SRN are going to have success and hit high grade gold on their respective ground so after missing the ride on SPX completely and jumping off RXL too early (both took a while to develop and climb higher)I am determined and resolute to hold both SRN and ARN for a few months and let them blossom into lucrative and rewarding medium investments.
The collage below shows the main contenders for success in the area,the structures and known gold occurrences as well as a map from SRN's announcement Friday that shows all the juicy shear zones that traverse both SRN ground and the the northern most block that ARN picked up in the Youanmi region. The last map after that below shows all the players in the region (good &bad)
(20min delay)