REZ has a lot more run today/this week - from yesterdays announcement of initial results in WA:
Page 4: WA project - Assays for 27 more holesto come over next two weeks at GoodenoughAssays for additional 21 holes at Gigante due by end of month.
Page 8: Qld project - The current resource has been estimated at 3.42Mt @ 1.18g/t gold and 9g/t silver for a total of 129,000oz gold and 862k oz silver. An initial scoping study for the project shows a positive net $63m of free cash excluding any option to produce a concentrate from the primary ore.
Additional news flow from assay results of 48 holes over next two weeks could mean REZ continues to trade decent volume into November.
A SP of 25c gives MC under 100Mil which seems reasonable given WA initial drill results and QLD MRE of 129,000oz Au and 862,000Oz Ag.
