Ann: AFRICAN GOLD HIGHLIGHTS SIGNIFICANT GOLD POTENTIAL, page-12

Interesting read from Stock Head's Barry FitzGerald re A1G re lithium overdone, gold underdone.

........ The search has taken Garimpeiro all the way to Côte d’Ivoire, or the Ivory Coast as the colonialists at the BBC still call the West African nation. The company is African Gold (ASX:A1G). It was trading mid-week at 8.4c for a market cap of $10m.

CHART

The current price compares with a 52-week high of 28c and 52-week low of 6.4c. That the stock is just above its 52-week low shows just how tough things are for the gold explorers because recent exploration news from A1G’s Didievi gold project deserves some attention.

Early in the week the company reported another batch of high-grade gold hits from both the Blaffo Gueto and Pranoi prospects at Didievi (10m at 123/g/t from 66m, and 12m at 5.6g/t up from 24m respectively).

More to the point, an independent review of the results has allowed the company to release a compliant “Exploration Target’’ of 600,000ozs to 1.9mozs depending on the cut-off grade used in the calculation.

So the company has a large and underexplored gold system on its hands with the potential for multi-million ounces, all for a $10m market cap.

Now it sets out to confirm the big-time upside with the drill bit, knowing that at the end of the day, there will be a market for the gold.

Source:

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