On the SD SiteIf this is the same 50.5 square km, then some people think this was a good idea. Also, it gives a good description of where the land is located. Cheers
Sidon International (SD, TSX-V)
Sidon continues to build a nice base in the high teens and closed Friday at 19 cents, a 1.5 cent loss for the week…there was news Thursday which gave more encouraging indications from early drilling at the company’s Morogoro East Gold Property in Tanzania…the first six holes have been completed over a strike length of 900 metres…Sidon reported zones of disseminated sulphides of pyrite and pyrrhotite as well as some chalcopyrite and arsenopyrite throughout all six holes over intervals of 30 to 70 metres…visuals are not always reliable but there’s reason to be optimistic that Sidon could be on to something…the company is also trying to develop a placer operation at Morogoro…Sidon remains locked in a very strong long-term uptrend as evidenced by the rising 50, 100 and 200-day moving averages (SMA)…there was some significant news on the Sidon front in mid-December as the company picked up ground (50.5 square kilometres) northeast of Canaco’s (CAN, TSX-V) Magambazi Property, immediately north of Douglas Lake Minerals‘ acquisition which borders Canaco’s property…strategically, this was a smart move on Sidon’s part and helps underpin if not enhance the company’s value…it meant giving up an option, for now at least, to acquire more land adjacent to its Morogoro East Gold Property to the south…given a choice between the two properties, Sidon made the right call in our view though the process appeared a little messy to investors…this company has come a long way since last March when we first introduced it to BMR readers at a nickel, and its new web site is just one more indication of how impressively Sidon has developed and matured…we see exciting possibilities for 2011…the company raised over $1 million through the exercise of options and warrants in November and December…