GOR is in a halt pending a cap raising - should come out...

GOR is in a halt pending a cap raising - should come out tomorrow.

The CR has been rumored for months and the SP has drifted down accordingly which combined with the general malaise means its way oversold.

Could present an opportunity - they are using the funds for drilling. Target 150,000m this year (110,000m so far) and want to increase this amount next year. JORC upgrade expected later in the year. Hold a monopoly on 5000 sq km of gold bearing Yarmana Greenstone near Kalgoorlie and Tropicana. Good grades up to 1000 g/t, numerous deposits - production planning underway.

Currently sitting around 35c - Enterprise value of existing 1mOz JORC 60c . Upgrade on this expected around the end of the year. Should be in the 50c to 85c range. Expect about 370m shares to be on issue after the CR - 330m at present

All depends on whether you read cap raisings as the kiss of death or an opportunity.

Gold Road RIU Round Up

RCR Research Note

Disclosure: yep I hold hold it - and yep there is some bad sentiment around after recent falls - your call DYOR.