$RNCH - Closing out Strong on the First Week! $RNCH is about to finish its first week on the market, holding strong just above $0.50. Ranchero Gold is about to begin drilling at their flagship property! The Maiz Azul prospect is a potentially promising area with historical results of up to 1.6 g/t Au over 36m. It’s also located on the same gold belt as a few already producing gold mines owned by $AEG and $AGI. With the drill rig from Globexplore Drilling mobilized on the property, phase 1 (3000m planned) should start within the next few days.
https://ceo.ca/@nasdaq/ranchero-announces-start-of-trading-drill-rig-mobilizes
They also just announced that they’re working with Goldspot’s AI tech to find new targets for the drill campaign. I’m super excited to see the results. $RNCH is a personal favourite of mine for a few reasons.
- $5.2M in cash from the recently completed financing deal
- Amazing location in Mexico’s Sonora region with historical drilling and exploration proving there’s already gold on the property
- Extremely experienced management team with over 40 years under the belt
- Plus, they’ve already got all the drill permits and water rights required for phases 1 and 2
Once completed phase 1, $RNCH plans on moving into a more significant phase 2 campaign to drill around 10000m. IMO it's super undervalued at only 34M, and with drilling coming in the next few days, I'm expecting some upwards momentum.