It is perplexing that GRL announced the following weeks ago and yet, here we are in mid April with no further news regarding the Mineral Resource Estimate.
FROM GRL's ANNOUNCEMENT OF 14th February 2023:
"The Narraburra Project’s updated Mineral Resource Estimate to JORC 2012 standards is expected to be delivered in March."
There are many reasons to believe that Narraburra's Rare Earths project will prove itself irrispective of any other of GRL's future projects.
ASX listed AR3 which listed about 18 months ago and has a very similar RRE project but more advanced.
with similar free digging ionic clay has had an outstanding week after announcing an increase in its resource etc.
Right now GRL has a Mkt cap of $7.69M - while AR3's Mkt cap is $64M.
With GRL's resource set to be announced at anytime and its share price languishing at .0650 or 6.5 cents and the recent announcement of 5th april that the independent laboratory ANSTO - with initial leach testing showing promising leachability of REE's.
Highly encouraging 92% recovery of key magnet REE’s (Pr, Nd, Tb, Dy) with individual elements Nd 94% and Pr 90% - confirming the Project’s low cost development potential.
It seems that Godolphin's share price does not factor in the future potential of its other ground nor of the following which it appears many have overlooked.
On the 2nd of February 2021 Godolphin announced the following resource.
Surely the following should not be forgotten and lost in the share price.
An Inferred Mineral Resource Estimate (JORC 2012) has been completed for the Lewis Ponds deposit with 6.2 million tonnes at 2.0g/t gold, 80g/t silver, 2.7% zinc, 1.6% lead & 0.2% copper, containing:
o 398koz gold
o 15.9 million oz silver o 170kt zinc o 99kt lead o 11kt copper Resource estimate is reported at a 3.5g/t gold equivalent cutoff Mineralisation remains open in multiple directions Drilling commenced in January 2021 to expand and improve confidence in the current Mineral Resource
GRL Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
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