This is the artical translated from Racolinis link minus the...

  1. 5,536 Posts.
    lightbulb Created with Sketch. 153
    This is the artical translated from Racolinis link minus the long disclaimer.
    Not my words. DYOR and GL.
    Analysts at Hartley's see at the Australian gold explorer Burey Gold (WKN A0LC1M / ASX BYR) the chance that the price more than doubled. They rate the shares therefore as speculative buying.

    The experts point out that Bureys Giro project is the second gold project that the management team worked in the Kilo-Moto Greenstone Belt of the DRC. Because, as Hartley continues the Burey team have in the past already Moto Goldmines founded and discovered the deposit, which now accounts for the Kibali mine with its 17 million ounces of gold. And Kibali lie only about 30 kilometers east of the current project, so Hartley.

    Moto Goldmines was adopted finally in 2009 for about 580 million USD of Randgold Resources (WKN A0B5ZS) and AngloGold Ashanti (WKN 164 180) and is exploited by the two groups in a joint venture with the state Somiko. The Kibali mine is expected to produce, according to Hartley in the next round eleven years about 600,000 ounces of gold to all-in sustaining costs of 573 USD per ounce and Bureys Giro project lies in a geologically similar environment as the gold deposits of Kibali.

    Analysts take reporting to Burey by rating speculative buying and a price target timeframe of 12 months from 0.05 to A $ (current price 0.02 AUD). The low valuation of the company offer namely a strong lever on positive exploration results and future discoveries. And the Kibali mine, so Hartley continued, would soon need a new Oxiderzquelle so marginal and AngloGold probably also emphasized the Giro project as short-term availability, potential source close to the surface, would derive additional ore into consideration.

    Currently, experts continue Burey lead the first diamond core drilling program on checking to confirm the continuity of mineralization and to define the structural controls of the mineralization. Earlier reverse circulation have demonstrated the potential to high grade zones with more than 5 grams per tonne gold mineralization within the broader lower grade of approximately 2 grams of gold per tonne, said the analysts.

    The Giro target which takes place over more than 1 km in length and 400 meters along the fault zone Kebigada, with narrower zones would extend up to 2 kilometers. The current drilling would allow Burey, to investigate whether the high-grade mineralization continues at depth and demonstrate the potential to add new ounces that may be recovered in mining.

    The experts also point out that Burey dispose over an impressive board of directors with extensive experience in Africa, made the class discoveries, projects are developed, produced gold and Deals've finished with majors. therefore Hartley assumes that Burey project risk insofar lowers that a large mining company is interested in a takeover. The second project of the company named Balatindi in Guinea have to attract the potential majors who are looking for a large copper, gold and uranium project.

    On Giro Burey will begin after completion of the current drill program in order to test a number of regional targets along the 30-kilometer long structural corridor. Burey have been identified with sampling programs, a number of prospective targets. Drilling, analysts continue to be, to test the potential of Peteku target and mineralization below the old shafts and tunnels on the objectives Mangote and Kai-Kai, which date from times of Belgian colonial rule.

    Hartley credited as having a high newsflow in the coming months, while the company is testing the potential of the current target and the larger current project area. Have been particularly happy at the recent drilling results from Adoku destination in the south of the Giro-area analysts. You see the potential for occurrence of several million ounces on the entire Giro project.
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.