ENCOUNTER Resources (ENR) is another stock that looks as if it could be in a position to come up with something to capture the attention of the D & D crowd.
Back on July 4, the company advised the stock exchange that there was lots of copper encouragement in the top neck of holes drilled into the BM7 prospect at its Yeneena project in Western Australia's richly endowed Paterson mineral province.
But assay results from the continuation of the holes (five of the six holes contained visible copper sulphide mineralisation) were not to hand. They should be available in time for D & D and the hope is that Encounter is on to a virgin copper discovery of scale hidden beneath the sand dunes, one that will take its place alongside the region's existing mines/deposits, which were mostly found because they poked through the sand cover.
Since the July 4 statement on Yeneena, Encounter has marched from 23c to 36c a share. It's got a tight capital base, with just 114 million shares on issue.
Directors own about 28 per cent of the show, further tightening things up.
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