AX8 recorded it's highest ever trading volume today to close up 21% and I believe it could just be a start. The move is largely due to the fact that AX8 have a large land position which butts right up to MGV. MGV announced some spectacular shallow results today from drilling.
14m @ 191.1g/t Au from 4m (20MORC068) including; o 3m @ 884.7g/t Au from 5m including; 1m @ 2,518.8g/t Au from 6m
AX8's tenements straddle the void that is between MGV's southern and northern tenements. Large gold deposits exist on both ends and AX8 have recently had a program of works approved to start exploratory work and drilling on their land.
At close the MC is around $6.8m, they have 99m SOI so a nice tight structure, they recently riased $1m to fund the exploration activity at their Comet gold project.
It's a hell of a cheap entry to this area when you consider that MGV are now sitting on a MC of around $350m, certainly gives some decent leverage to success on the drill in an area which is very well endowed with gold.
Ann: Exploration review commenced of Comet Gold Project, WA, page-26
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Last
0.7¢ |
Change
-0.001(12.5%) |
Mkt cap ! $4.352M | |||
| Open | High | Low | Value | Volume |
| 0.8¢ | 0.8¢ | 0.7¢ | $3.46K | 436.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 2663979 | 0.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.8¢ | 660902 | 1 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| AX8 (ASX) Chart |