Jam money anyone ?
70,383,575 shares on issue
Current market cap $3.8M
Cash as per last quarterly $6.8M
Trading at 44% discount to cash
Recently spoke to management:-
- completed 4,000m RC drill program
- cutting cores and sending assays to LAB this week
- progressing well on 2nd acquisition
I therefore expect results sometime next week
The 4,000m program was designed to target the shallow high grade gold at Triumph. The image below depicts some of the previous high grade production
Given the stock has circa 10c cash in bank, any sort of high grade shallow strikes have potential to send it 10c+, which is reasonably conservative. Bonanza strikes then I am targeting the teens. With a second acquisition on the way, there should be further catalysts, along with the 10c cash buffer to underpin the price
Been quite a wait for drilling and main reason for the sell off appears to be impatience. Looks like less than 7-10 days to see how they've gone
Oh and the beauty, top 20 hold 53%, leaving only 32.8M shares outside - love these register plays
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