Ann: Mineralised porphyry discovered at Mapawa , page-14

re: Ann: Mineralised porphyry discovered at M... MAGIC!
I'm still learning but the grade and length appear most attractive. It's deep but don't forget the channel sampling down to there may provide something to work with as the diggers get down to that level!

I didn't think porpheries had this grade of gold but from research i found the whole province has had stunning historic recoveries in 1930's. Todays's ann. is VERY exciting for the company and is manna coming out of the blue sky we had talked about....think about it..this is either another discovery or it will will used at Siana to greatly extend its LOM!!!

Volumes today have changed the character of RED... lines of 2.5m and at one stage 3m with traded vol of 22m and placing it at #19 on the ASX today means its finally getting the attention it deserves. As I posted previously the SP had "broken out" ahead of time from leaking as has happened with this before. The recent increases over 2 Fibonacci lines have also added to the momentum.

The market liked the ann... as ASX:GOLD was down(!) 0.6% we can assume that the 2c price increase is fully due to Mapawa, which equates to an increase in market cap of $18m that we attribute to this ann. Not bad for 2 drill holes of which only one has declared grades!

This is evidence that the market is pricing Mapawa it as another mini gold company already!

But as we have discussed before, VERY conservative fundamentals still justify an SP in mid-late 20's excluding Mapawa!!

Todays ann., the positive no surprise management, the steady progress, a fully capitalised and (about-to-be) debt funded operation, a mkt cap at $175m knocking on the $200m threshold some instos may have, ... all factors will assure further price appreciation before cashflow generation starts 2010.

Happy shareholder, overweighted in RED.