CNB 11.9% 47.0¢ carnaby resources limited

Technical upside breakout ahead of gold drilling results, page-2

  1. 5,209 Posts.
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    It's certainly something of a nervous hold at this stage. We all know that if they make a discovery of a high grade satellite lode that this thing can run to multiples of the current SP. We know that historically very high grade gold was discovered and then mined in a very small area (80m wide).

    From the reading I have done the thing that makes me somewhat nervous is that historically the gold was rich but in quite thin seams. The highest grade hit was 3209g/t Au but from what I understand you could have one meter with this and the next meter with NSR

    Obviously we all want to see some big hits come in and we know that management could provide these by drilling in/near the known grade zones however I don't see these guys as the type to drill directors holes so assume that the drilling will be more so targeted at genuine exploration.

    If they do make a discovery outside of the existing mine then it's one to hold tight for a very long time. If not then lets hope that they fast track those tailings
 
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