RE: Hoov, Glorieux, and Fantomas! Yixter...how long has it been since you looked at the NOT board?? I have not posted there or owned shares in well over a year except for a quick trade on the run up to 90 cents.
Anyways, Hoov told me to have a look at this so I did. This is a pure spec play at this point and things could go either way but I like a few things here:
1) Geology: Same geology as Sumitomo's Pogo mine where they are producing 350k ounces per year.
2) Location: Alaska...lots of gold historically and very safe jurisdiction
3) Share float: Tight!! Only 36M shares. About 20M warrants most priced between 21 and 25 cents.
4) Rumours: Talked to the company and they confirmed first 2 holes were rushed for assays based on visible gold. Also, from 2nd hand info, XRF reading indicated copper and silver as well.
5) Proximity: 3.5km from Pogo mine which has a LOM until 2020 only. They will be looking for more feed soon and we would be a perfect fit. However, they may have to compete with ITH which are close as well.
6) Insiders been mostly buying.
7) Read thru SEDAR and they got their first property here in 2009. Added more land in 2010 and again in 2012. This slow accumulation of more land tells me the company is very excited about this area. They have since JVed some of their other properties telling me they are excited about the potential here.
8) Loan: What junior gets a loan??? This loan is payable in a few months which makes me think the company believes it will be able to raise more funds at higher prices as otherwise, they would of just raised money now. That is great for us as it keeps the share float tight.
9) Market cap: At less than 4M dollars, it will not take much for this stock to be a 2-3 bagger from here!
10) There was a PP at 9 cents that became free trading in early July. That should be our floor so risk is limited. These shares are probably what we saw being sold today and the last few days. Once these shares are gone, the SP may spike here even before news as the potential is very good and it is now on the radar of many traders/investors.
Again, this is exploration and anything can happen here but I like how the cards are being played here by management.
Good luck to all,
Glorieux