Yeah, but you gotta put your feet in the water sometime, I picked up a parcel today under 30c - that's a great price even if it does go lower. The numbers this quarter was made worse due to 1. Iron Ore 2. Pre-Strip for Duckhead (moving waste material) Next quarter will be far lower cash costs because they are using 50% from duckhead and the rest from low grade stockpiles. Duckhead could turn out to be a massive deposit with huge grades - I bought some today because you never know when someone might want to make a bid for a takeover/merger (like Obis Gold, which was on my list). NST looks pretty impressive as well, but ill wait a bit longer. And as Ive always maintained I think EVN will be the next Newcrest in Australia
Picked up another parcel of these guys @ $0.200 the other day to average $0.214 overall. Once pre-strip for duckhead is complete it should be down to business for BDR getting cash cost down to a respectable level. Very interesting deposit they are sitting on! hopefully drilling proves the deposit to be sizable for a long term mining venture. Nice moves up today for most of the Gold Stocks!
Go Beadell, show me that monster deposit and prove why I bought you all the way back in 2010 RC drilling of the Duckhead Main Lode at the base of the open pit has intersected significant gold mineralisation extending beneath the current open pit limits. Gold results include; FVM514 28 m @ 266.8 g/t including 1 m @ 6,844.6 g/t FVM515 53 m @ 47.4 g/t including 1 m @ 1,218.5 g/t FVM511 16 m @ 57.7 g/t including 7 m @ 126.9 g/t FVM510 23 m @ 36.9 g/t including 4 m @ 197.6 g/t FVM508 14 m @ 25.9 g/t including 1 m @ 294.5 g/t
They also hit that new target 500m from Duckhead which could show some really nice mineralisation when a comprehensive drilling program is undertaken. Might pickup another parcel <$0.30 in a week or two. See how the Euro situation plays out and the correlation with gold prices... with a P/E ratio of <3 its a steal IMO.
Reading drill results is a skill, its 4 dimensional process - depth, length, spread, and time But the wrong thing to say is brilliant is high and crap is low.... that's the non-geologist mind They are obligated to release results, they have a responsibility to existing shareholders and future shareholders who know who to do research on a deposit.
Ahh, tempted to dip the toes in again at these levels. Still feel like POG has legs to get up to $1350 in the next month or two and this may be a brief correction. Anyone more experienced than I care to weigh in?
Well at current Gold prices, Beadell resources can make money even with a $400 drop in in POG, given their P/E ratio is so low your risk on a long term buy is lower than your reward. Shorter term trades - I think the direction is down (dunno if it will make a new low or not), but you could buy some now some later. Its really up to you
I was in at 31c and also seeing red. Was seeing a tidy profit for a while there, but didn't take it because I'm in these rock bottom price commodity stocks for the big gains. Wake me up if it hits a buck.
