I think we are definitely in the wrong sector…speculators moved first into crypto-currencies, now into Cannabis…who would have thought 20 years ago, that Coca-Cola would seriously look at selling Cannabis-Drinks! Unfortunately, we only have iron ore, nickel, baucite, graphite etc on offer here! But at least some of our stuff is deep value, probably contrary to all these drug-stocks!
Metal prices are having a volatile day…the only metal being strong throughout the day has been nickel, currently up by 1.3%,while copper is consolidating the big jump from yesterday - but it´s currently also up by 0,5%
Sheffield - very nice announcement today….they will receive a loan of 95 mill$ from the Nortehrn Australian Infrastrcture Fund , 30 mill$ for project development and 65 mill$ for infratsructure like roads, LNG plant, and port facilities. Excellent news about the 30 mill, but also the balance - SFX had previously thought about outsourcing tehse things, which would have increased operating costs vs owning them , as they will be able to now. The big news is stille xpected shortly - all government approvals following full validity of Native Title. I hope and believe, that there is a lot of room left in the share price!
Antipa - more good news from them: Good drilling results from their asset North of Telfer, just 15km away, like 12m with 7g; 10m with 3,6g; 6m at 2,6g etc…on top of a lot of similar results at this property before. Shaping up to be something worthwhile…but spending 3 mill$ this Quarter, which leaves them with 3.5 mill$ in the bank…
Gascoyne - 3m with 987g/t of gold - that´s what I call a great drill hole! But at this location, they have only drilled two hoels so far - so this could be a one-hole wonder. Only drilling will show. But in any case - a good indication of the prspectivity of the area surrounding Dalgaranga. The company should be sitting on more than 20 mill$ cash now, following the 10 mill$ placement - and from the end of next month on, the comapny should be in commercial production. At this stage, there is nothing which would make them believe to have a grade problem!
Have a nice weekend!
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