announcement significant gold traces, page-5

according to this article from the australian, the mineral resource estimate will be out next month...


Explorers take hit from margin calls

Robin Bromby | February 04, 2008

TALK among some brokers is that margin calls during the week have taken their toll on the junior exploration sector.

How else to explain a 14.3 per cent fall on Thursday in Echo Resources? There was nothing obvious to frighten the horses in the quarterly which came out that day - good assays from the Julius gold project in Western Australia, a maiden resource expected next month, tests showing 95 per cent gold recovery and $2.8 million in the bank.

If there had been any shockers, then more than 3000 shares would have stampeded through the bourse. How come a stock loses a seventh of its value on a $250 trade? That smells of someone who had to sell at any price, or being sold out by the lender.

http://www.theaustralian.news.com.au/story/0,25197,23154366-18261,00.html