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ChrisWR

752 Posts.

18/04/16

18:23

Post #: 17535212
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Originally posted by forrestfield ↑

STTCOMP FNT, FA LONG
Market cap 750k approx. with 225k cash approx.
Other than the tint market cap they are about to start a drilling program for high grade. in this market where gold is hot if they hit some good, market cap will help share price to gain attraction.

From today's announcement:

A strategic diamond core drilling program will commence on Thursday on the eastern strike extensions of the Upper Zone - Swit Kia Prospect (subsequent to the movement of the Company's onsite CSD500 drill rig to Pad 1).
The initial target to be drilled is a 2.0m wide interval that graded 195.0 g/t gold (77-degree south dip) in jackhammer trench sampling (refer to Announcement 29th January 2016 – Technical Report) and then at the Lower Zone (approximately 50m stratigraphically lower) with a 3.0m wide zone that graded 45.2 g/t gold (50-degree south dip). The very high-grade zones are located in intrusives proximal to the host siltstone contact and will therefore need to be tested from different drill pads.
The very high-grade nature of the gold requires that we obtain the best areal coverage of the mineralisation, given the difficult topographic constraints. The drill holes will all be relatively shallow, to obtain as many intersections as possible, to determine the orientation of the mineralised zones and their gold grades.

Red flag:
low cash so perhaps cap raise is coming...
Illiquid

Cheers

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Hey @forrestfield, @strauss, @TheGladiator any thoughts on the GPH action today? Double the days volume from one or two trades sinking it lower.
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0 Great analysis

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