more good news, page-6

Thx for the link team.

Inside Trader comments:

Signature Metals is a gold explorer and soon to be producer in Ghana, West Africa.


We are seeing buyer demand building at present as speculators take a position. There seems to be a solid support at 2.9c

This small gold company is on world class assets and are currently refurbishing an existing plant at low cost and have an exploration program in place which could significantly increase reserves.

First production is meant to be occuring very soon after some small delays and they aim to be a +100,000oz producer with a cash cost of $650 per oz.


They have cash in the bank after a recent capital raising and have existing infrastructure in place (roads, accommodation, power)

In short this is a speculative gold producer that may deleiver significant upside if everything goes according to plan.

from their website:

Signature Metals Limited is an Australian based minerals exploration company whose primary objective is to deliver long-term shareholder value. The Company strives to achieve this through the discovery, acquisition and development of economic mineral deposits.

Signature Metals Overview

Signature Metals has assembled a package of quality resource projects in Africa. The Companys flagship asset is the Konongo Gold Project in the world class Ashanti Gold Belt of Ghana. The Company also controls large exploration licences and applications in Kenya and Uganda that are prospective for iron ore, nickel and copper.

Konongo Gold Project

Signature Metals Limited has acquired 70% of the multi million ounce Konongo Gold Project located in the world class Ashanti Gold Belt of Ghana. Past production from the Project totalled 1.6 million ounces at a head grade of 11.8g/t gold. The Company is focussed on developing the Konongo Gold Project into a +100,000 ounce per annum gold producer from the existing JORC Resources of over 1.2 million ounces.

The Konongo Gold Project comprises 192km2 of granted tenure and contains 16 known gold deposits along 12 kilometres of strike of the Ashanti Gold Belt. The project currently has JORC compliant resources of 23.4 million tonnes at a grade of 1.95g/t in the Indicated and Inferred categories for a total of 1.47 million ounces of gold. Additionally, significant infrastructure remains on site including a 350ktpa CIL plant. The Company is well advanced in the refurbishment of this plant with first gold production expected in Q1 2011.