Two African Gold Specs that I currently hold are CDT &...

Two African Gold Specs that I currently hold are CDT & CHN:


Castle Minerals (CDT):

I've done my research and I am forecasting 80 cents by Christmas.

For those of you who don't know much about CDT here is a quick background: Castle Minerals listed on the ASX in 2006 with the objective of exploration and development of its five gold projects in Ghana; plus acquisition and exploration of other mineral resource opportunities, particularly in West Africa. It became the largest
landholder in Ghana after securing the Wa licence areas in 2008. CDT made two greenfields gold discoveries in 2008, Akoko and Julie West defined an initial gold resource in 2009 of 100koz and has discovered mineralised areas since. CDT currently has six exploration projects covering more than 11,000 km2 including prime Birimian greenstone belt locations.

Back in June 2011 CDT raised $4.8m which is being used for exploration in CDT's large land holding in Ghana. I'm hoping for positive news after great results from both Baayiri and Kandia.

My reasons why CDT can be 80 cents by Christmas:

* Small market cap (approximate: $40m)
* Cashed up for exploration
* CDT has had success in exploration in the past and with such an extensive landholding, the chances of discovery are excellent IMO.
* Neighbors Azumah Resources currently are the largest holder in CDT (13.41%). I would not be surprised if this holding increases and a takeover is made.
* Gold heading towards $US2000

All of the above is just my thoughts.



Chalice Gold Mines (CHN):

he share price has taken a hammering this year due to lack of exploration and the time in getting the project finalised. The time came last Tuesday when I decided to buy back in at 26 cents - the opportunity was too good to miss.
On Friday, CHN started to get some nice momentum and finished the day strong at 0.335 with a strong buy side and a thin sell side.

As has been noted here, there has been director buying over the last few weeks.

I am expecting the following news in the second half of 2011 and this is what has prompted me to buy back in. With the Director's buying in, I believe news is not too far around the corner. Gold looks to be heading towards $US2000 as well so 60 cents by Christmas would be very nice!

News expected before the end of 2011:

* Final approvals and project development now that the sale of project equity has been finalised
* Drilling results from the renewed exploration