AYR is another good trade to be had imo
$2m mkt cap
12mths of inactivity
just completed $600-700k rights
est $300 cash
$100k qtr corp opex
1,500m RC program on just kicked off on Warmblood
Warmblood is a small, high grade, jorc, typical WA gold deposit
last year had high grade hits outside jorc
this program follows up (beneath) prev AC drilling
Andy Viner is the new MD. Horsewell not his project. he owns 6% from about 2.5-2.3c. he's negotiating for a new SE Asian gold project
logic:
RC program will hit a high grade shoot
sp will spike [15 months ago spiked to 7c on Horsewell drilling]
but the real trade will be the new gold project
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