Options have gone up 70% in recent days and now 20c is being...

Options have gone up 70% in recent days and now 20c is being hit. I suggest you keep a watch as drilling is about to begin and they have a LOI with Arc. Check the market cap.

Rey Resources:

Exploration and development of mineral tenements - coal tenements in Western Australia, copper properties in Chile and gold prospects in Peru

Of immediate interest, is in South America, where the company issued 13 million shares last year to acquire seven copper prospects in Chile and two gold projects in Peru. The immediate target is its 100%-owned Fenix copper-molybdenum prospect within tenements covering 64 sq km and located 40km south of Phelps Dodge’s Candelaria mine.

REY has identified more than 40 outcrops with assays ranging from 0.1% to 17.2% copper and up to 40 parts per million moly. An initial drilling program begins in mid-August.

Further to this:

REY also holds 3970 sq km of tenements covering the WA Canning basin where BHP in 1988 intersected a 15m-thick coal seam from 200m in its unsuccessful Petaluma oil exploration well. There are indications the coal seam outcrops near the surface further west, hence the Indian interest.

REY has applied for petroleum exploration permits for the same tenements and exchanged letters of intent with Arc Energy.

http://www.reyresources.com/

Subject re: stock to watch
Stock Code REY - REY RESOURCES LIMITED
Posted 25/07/06 23:40
Posted by macrae12
IP 61.69.xxx.xxx
Post #1171026 - 173 reads
In Reply to msg #1171022

Now 15.5c on low volume.It has more than $3m cash and is about to begin a drilling program on a prime copper-molybdenum project in Chile. Rey listed in June with an issued capital of 72 million shares and 37.8 million options exercisable at 20¢ by December 30, 2007. The shares have since traded down from a high of 20¢ to a low of 12