I bought a small parcel of these guys today, dipping my toes into the higher risk junior gold sector. Seems to me they might have been a bit of a dog explorer that could be be getting a new lease on life, with a new board (9 months old) and a potentially exciting resource being uncovered. They are in the process of acquiring Metaliko (MKO) which is a nearby plant that might complement the resource discovery and allow them to fast-track into development and production. All up they look like a stock the market has discounted and I reckon they could have some real potential upside with regards to both resource expansion and being able to quickly move into production. Obviously it's a high risk prospect though. Anyone have any experience with this stock, or thoughts on it?
EAR chart update (see 11 Sept chart above). EAR has some serious momentum with volume now. No red candles in 10 weeks.
EAR at highest price in over 10 years with 26c Resistance breaking - a key R point which now must hold as Support. Potential next R at 30-31c.
NST has emerged as a 16.4% holder of EAR after buying 80million shares Thursday after market at 29c per share. This should put the spotlight under some unloved junior gold stocks. About time, its been a pretty bad year for most of the gold sector. I currently hold EAR.
NST confirming after market today that it has lifted its stake in EAR to 19.19%. NST has a tonne of cash at the moment, would not be surprised if they announce a takeover. EAR is attractive with high grade gold (Aurelia deposit) and processing plant (bronzewing) that won't take too much time and capex to get back into production.
Laest drill results at Orelia: * incl. 34m @ 10.74g/t Au from 95m. Just Nth of Orelia: * incl. 9m @ 17.34g/t from 54m. Orelia deeps hit gold, but needs more drilling.
Solid week +17%. 'Rising 3' candlestick pattern on daily chart. Often a good sign of continuation in a Stage 2 bull trend. As highlighted in my previous (weekly) chart, 22 - 26c area of historical Resistance.
