This stock is a no brainer
"The current estimated resources are ~484Koz gold measured & indicated and ~316K inferred"
Based on drilling on only 250m strike, the reserve and resource is almost 800k OZ AU. They're now going to report on 950m strike, representing only 60% of their target so that this should at least confirm 3.2M if the orebody is homogenious.
The total strike is somewhat 2.5KM, is it safe to say that should the ore body be continous with the same grades we can estimate perhaps 8.0m OZ AU?
Let's look at some of the facts here, which can be found on their internet site:
1)This year Orex staked additional claims around Goldboro and now have 270 sq.m.in claims, including the original 6 sq.km.
2)Mark Billings, President & CEO of Orex acknwoledging that reserves and resources of greatly over 2M Oz Au are highly likely.
3)Insiders buying up over 50% of last share offerings and subsequent share accumulation and price increases on the market.
4)The ore body is still open in depth and strike.
5)Infrastructure is in place with access to road, electricity and gas.
6) Open pit mining is highly possible as the ore is within the first 100m.
This has got the be one of the most undervalued gold plays in a safe and miner friendly place such as Nova Scotia. If I would have to guess on the resource estimate (all categories) I would have to say that they will report something closer to 3M Oz Au in the next few weeks and this stock will jump to 1$ in a heart beat.
Let the count down begin