THE surging gold price has spurred a modest uptick of interest in the Victorian gold scene, where this spinoff from South Africa's Gold Fields is focusing on its Lockington project north of Bendigo.
Perhaps Timpetra, which listed on March 30 after raising $10m at 20c a pop, is just another speccy play. But it's got the initial results of a 100,000-metre drilling effort -- funded by Gold Fields -- to work from.
Management believes the ground shares the same characteristics of the operating Fosterville project, 50km south: long horizontal mineralised shoots of gold. A second phase of drilling, which started this week, will show whether the story holds up.
Timpetra has some heavyweight support. Chairman Tony Grey is a former chairman of Pancontinental and Kinsgate Consolidated, and fellow director Ian Holland is general manager of Fosterville mine. Speculative buy.
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