Double Joy I have a strong feeling the cavalry may arrive, big time, once the TH is lifted providing :
(1) The assays from the two shallow holes, (C 001 and C003) are released in this announcement.
(2) We all know these holes are located either side of the deep hole, C002, whose results were recently released to the market, (14m @ 14.4g/t gold and 4.11g/t silver and within that section was 8m @ 23.3g/t gold and 6.9g/t siver). If these two shallower holes show anything similar to the deep holes grades, the hypothesis of Damien Keys, (SPX’s structural geology consultant), may well be spot on and the historic isolated intercepts to the north is likely to be a manifestation of a faulted off-set of the Penny West lode.
(3) The three holes, C001 - 3, were designed to specifically test this hypothesis. C002, we must all agree is a winner so if C001 and 3 come in with some good numbers it would not be unreasonable to suspect that there is shitload of gold in them there hills.
(4) Whilst it is difficult not to get excited about this potentially company making discovery I can almost hear the quivering in Paul Adam’s voice when he says, “the first hole submitted for analysis has exceeded our highest expectations, both in terms of tenor and width. Mineralisation, style and grade is the same as was mined previously which gives us confidence that the newly discovered zone is contemporaneous, (a big word for existing, originating during the same time), with the original high grade mineralisation that made Penny West such a famous name in WA mining history”.
(5) Unsure how PA will contain himself if the numbers for C001 and C003 actually exceed the result of C002. Plus, what if one or all three of the planned Magenta holes, 2 km away from the Penny West pit, comes back with good, very good, excellent or exceptional grades???
(6) A few other things I like about this stock is (i) both the Chairman, Alex Hewlett and MD, Paul Adams are geologists and currently look forward to going to work. (ii) Tony Barton is the second largest shareholder and renowned for his astute investments and longevity in holding stock. (iii) Kalenn Aman has joined us on this thread. He has recently visited locations of two of the companies his Private Investor Group are heavily invested in and has taken a small holding in SPX. More may follow.
Cheers, Stumpy.
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