Short and sweet and to the point, that these are still early days and still a cheap buy at these prices!
"Kingwest confirms discovery, shares higher
Kingwest Resources (KWR) made an ASX release last week headlined “Huge Potential at Lake Goongarrie Gold Discovery”. It is interesting that the ASX didn’t worry about the Heading and the use of the word “Huge”, in its campaign to restrict “ramping-style announcements (more on this ASX assault later).
Anyway, back to the KWR release. Yes, it is indeed shaping up to be something that could very well be “huge”. At the moment it is all about determining the length and breadth of the gold bearing system under the lake but it is still too early to be ascribing any sort of grade. It is one of the those discoveries which pop their head up early, but take time to understand fully. We haven’t seen the attention grabbing grades yet, that companies put in their highlights to try and boost the share price, because this one is more subtle. We will have a much better picture once the Company has done programs of RC and diamond drilling. If you are buying shares now, you are still buying early. Time will tell just how big and how rich this discovery will be, but I suspect there is a lot more to come.
KWR Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
