Copper/silver/gold/lead/zinc in Northern Territory
9.4c $12 million cap $11.3 million cash
Price has come down from $2.00 in 2011 and $1.46 in 2012.
Some big buying at market today that wiped out the last few big sellers at around 9c.
A big 20,000m reverse core and diamond drilling program at Jervois starts in 5 days.
Technically looks ready to go:
- Price just passed through 34 day weighted moving average - Jump in OBV when they resumed trading in July; buyers grabbed control of the stock straight away and have held sway since - Base formed at 5-6c, now turning up on increased volume - RSI just out of oversold area, moving up and with still plenty of room.
Not interested in the gold - although there is quite a bit there - more so the copper & silver.
Jervois already has an inferred 13.5 million tonnes of ore at 1.3% copper and 26 g/t silver - 170,000 tonnes of copper and 11.6 million ounces of silver, worth $1.8 billion once its out of the ground.
Throw in 69,000 ounces of gold, 26,000 tonnes of lead, and the 22,000 tonnes of zinc.
All that is from the known ore-bodies... the drilling is aiming for apparent extensions indicated by chargeability and conductivity anomalies.
Project will likely be too big for KGL to develop themselves - this is a takeover play if drilling hits another couple of big structures.
KGL also own the Murchison gold mine in WA which is on care and maintenance, and 80% of a high grade gold project in Kyrgyz Republic, and a geothermal project in the Solomon Islands in JV with Geodynamics (GDY).
