I started looking at this one when someone sent me an email tipping it via YMYC. What I really liked about it was the logo, that looked like a blackjack card or a bottle of Queen Adelaide Chardie. Anyway Andrew Buxton presented and I was super impressed so I raised whatever I could get at 3.5c. I then took out some of the options at 1.6c. AQX is one of those rare juniors that lacks a profile, because many wouldn't believe that there is gold in the Torres Strait and the stock was terribly illiquid so the traders were nowhere near it.
Why I went massively long on AQX at 3.5c
* Hardly discussed on Hotcopper. No profile, no sexy looking chart.
* Tight structure relative to the gold potential. Still only 400m pieces of it fully diluted.
* Buxton comes across as being super enthused on the projects.
* Horn Island has 1m ounce gold potential, with the Southern Silicified Ridge offering some further upside.
Now here is what got me over the line. Remember Fifth Element (FTH) that ran from 20c to $8.00 with 13 shareholders? These guys had that ground in NSW that John Halliday has referred to as the best "underexplored porphyry ground in Australia" John should know he was instrumental in the discovery of that gravel pit Cadia. This project has recently attracted a $10m JV with Newcrest, and any hint of the right rocks then...
Not without risk if the gold results don't come in but if you buy low it won't matter in the end. I backed GCY from 9.5c on the market not picking up on the story and hopefully this will be the quinella. The NSW stuff coming in would destroy some lives rather than enhance them as many speculators are only prepared for losses but cannot handle the windfalls.
Good luck to all shareholders, I hope the vibe and logo never change!
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