On $tockhead this morning by...... Guy on Rocks’ is a $tockhead series looking at the significant happenings of the resources market each week.
Former geologist and experienced stockbroker Guy Le Page, director and responsible executive at Perth-based financial services provider RM Corporate Finance, shares his high conviction views on the market and his “hot stocks to watch”.
Also catching Le Page’s eye this week is Metalicity (ASX:MCT) after it hit more near-surface high-grade gold at its flagship Kookynie project in WA.
In the past three months the company has rocketed over 1000 per cent to 3c.
This week’s highlights included hits of 4m at 16.3g/t from 42m and 9m at 5.7g/t from 35m from the first 11 holes of a 44-hole program at the Leipold prospect.
“This is the first phase of this drilling program they’ve done,” Le Page explained.
“They’ve got several parallel lodes they’re chasing but look extremely interesting. They’ve got about seven prospects to follow up.
“I think the best results are coming from the Leipold project, all sort of within 150-200m of surface, so open cuttable.”
The Leipold prospect sits just south of the old open cut mine of the same name and is “open along strike and in every direction and down dip”, Le Page says.
Pretty good endorsement from an exp geo etc.
GLTAH
MCT Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
