More gold rock chip samples and another announcement that got at...

More gold rock chip samples and another announcement that got at least some attention from the market.

Here's what I like:
1. More potential opportunities to add to our lithium resources by exploiting more gold prospects, although as stated in previous posts, rock chip samples are hardly conclusive of any decent sized resource below.

2. Management's commitment to reviewing all prior drilling/sampling results for our prospects and looking for additional value - the lithium fines was another example of this even though anything binding is yet to come of it.

3. We have seen continued announcements over the past few weeks. This seems to demonstrate a bit more commitment to updating the market, and will help to keep a floor under our share price until we see the next material announcement. This is a good strategy from management, as they could release these anytime they like, so to drop one every so often should stop the bored punters from selling cheaply.

4. The market likes gold at the moment because of its price, so some attention grabbing around it is not all bad keeping in mind point 2 below.

5. The SP was starting to arrest this morning, so releasing this announcement today was timely, but we really need to see some drilling of these prospects.

What I didn't/don't like so much:

1. The rock chip samples that were taken at Happy Valley in the late 1980's and early 2010's....hardly recent.

2. This will be the second time in a few weeks that we have seen CXO release historical sampling for gold prospects. The first time we got a very quick bump to 5.8c with volume of approx 20m, and today we saw a bump to 4.8c and approx 5m volume. Whilst I am happy to see the constant news flow, we have to be careful about 'crying wolf' and desensitising the market with our use of 'price sensitive' announcements. There was a fairly significant drop off in interest and SP movement from the last gold announcement to today, and I would expect this to continue if CXO continues to release announcements like this regularly.

3. In line with the point above, gold rock sampling are not price sensitive IMO, but it would be good to see something soon that actually is. Paying LTR cash for the shares has set the scene, now we just need the info to kick us along.

CXO has so much potential and it is great to see us keeping the interest of the market for once, but we need to be careful.

Good things are coming!

AIMO, GLTA.