Ann: New Gold Target Identified at Cobar Gold Project, page-34

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rahonui

483 Posts.

15/06/17

10:29

Post #: 25287681
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Originally posted by eshmun ↑

Hi cluong3000,

Still holding HLX. Wasn't impressed with the way they went about that last round of diamond drilling at the Cobar gold project. I suppose they are the experts and they know what they are doing. Hope however that they got some insight and find a new way of tackling the project fast. We've got ALY just down the road currently chasing a deep seated gold EM target, RIM/Newgold up the road at Fifield chasing Au (Ag, Cu, PGE's and even potentially REE's), then we also have PEX across the road with some recent good Au hits at Wagga Tank and the SBM equity stake (curious). Hopefully someone can hot this area up with a good gold find.

WPG.
What can I say. Not many people apart from Worzel were predicting a cap raising and at such a discounted rate to boot. No wonder it's turned into a mad house over there. They have spent a fair bit installing ventilation, development drives and diamond drilling at Challenger so cash burn is to be expected. The latest drilling from the
M1, M2, Aminus and Challenger West lodes was a mixed bag so impossible for me to understand what it means for the future of the mine. Production from Tarcoola appears to be improving so I wouldn't write the company off yet but there is going to be quite an overhang of stock to work through so they really need to perform in terms of margins and production to move forward. I suppose the key is accessing the ore at Challenger, exploration and adding to mine life. They need reserves after depletion. If it was really just a case of bottlenecking at the mill then the money should fix that problem. I wouldn't be in a rush to buy personally. If I had to take a punt at 5cents maybe OGX. It might be the dream recovery story although you'd need a pretty big pair after what they've just been through. The recent involvement of Anglo makes me wonder if I shouldn't examine myself to see if my pair stack up. Anglo wouldn't be there for peanuts. That belt has multi million oz potential, you just need someone competent enough to realise it. $9.5 million of Anglo's money might just be enough to crack its secrets.

Eshmun

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Hey Esh,

Whats your take on TRY and GMD, two different goldies in different situations but both with low valuations that could very well change over the next few years.

Thanks bro, I love your work!

HLX Price at posting: 3.9¢ Sentiment: None Disclosure: Not Held
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Ann: New Gold Target Identified at Cobar Gold Project, page-34

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Ann: New Gold Target Identified at Cobar Gold Project, page-34

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