RisktraderTalking about selene deposit. The last ann has about...

Risktrader

Talking about selene deposit. The last ann has about 400KOz and the ann on 18 July indicated that Selene has low grades. The med-high grade was North Scotia but the deposit is low.

When we had the Mt Henry ann, it was significant as they hold about 600KOz and improved resource definition, leading to higher SP.

I reckon the Selene ann will be good but not as good as the previous 2 anns. The grade, IMO, will be average and not something to be excited about, unless they hit something great.

Also don't forget that ppl has already started to price in the upside from the ann due.

One thing to note, is that after Selene ann, there won't be much other catalyst to drive the SP in a steeper accent. Ann for the other three deposit (Telegraph, North Scotia...etc) will be insignificant, as they each hold only less than 50KOz and located at various places, so may not be feasible or not the priority at this stage.

What I'm saying is that it's best to sell after Selene ann, as the SP will probably consolidate or stagnant for a few weeks. There are other specs available that provide better return. Of course, always keep a small parcel for long term investment.

I'm holding a small parcel, nothing too much by the way.

Don't forget that the JORC has also been priced in to reflect approx 1.2MOz to 1.6Moz (assumed).

The cost to bring out the gold, well IMO, will be something to be asked at AGM, if they could provide a guide. Given its low grade, it'll be a bit of a concern.

Given that DOW was up on FRiday, we'll probably start seeing some run on Mon or Tues. I was surprise to see it holding at 22c when ppl already knew that ann will be coming out, unless some has anticipated that the grade wasn't as impressive as they should be?

Let's see.

cheers JM