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Sentiment says gold and silver going much higher. Sanu Gold to benefitBob Moriarty As I write the DSI for gold is 78 and 80 for silver. Those numbers are not back breaking for rallies. In fact, the sentiment I can see on Stockwatch tells me investors do not believe in this rally. Shares that I own or follow are trading a few thousand shares a day. That is not a top. When no one wants to buy any financial investment, that is a low. When everyone wants to throw money at the flavor of the day in any investment, you have a high. We are not there. Gold could spit and hit a new all-time high while silver is a few pennies from the highest it has been in thirteen years. And no one cares. I looked at the shares I own or follow and tried to find something that represented superlative value yet was off the radar scope of investors. I wanted something absurdly cheap that will move when investors wake up. If they ever do. The best company I could find was Sanu Gold (SANU-C) based in the richest gold district in the world with three district scale projects. I went to CEO.CA just to see how much interest there was in a stock a few days after Clive Maund wrote an excellent and informative piece on the company. CEO.CA shows just how many people are on a particular board at any time. The counter showed two people. I was one or half the people interested. Sanu Gold has just about completed 1500 meters of RC drilling at Bantabaye. Samples have been shipped to the assay lab and results will be out shortly. Results from the 2023 program showed gold as high as 15 meters of 11.4 g/t Au. (Click on image to enlarge)
The company controls 28,000 square km in the richest gold region in the world. Sanu is in elephant country in Guinea with neighbors such as Newmont Mining, AngloGold Ashanti, and Nordgold. All of which have outlined multi-million ounces deposits. The only reason small investors are not familiar with Guinea is that the giants tend to keep quiet about their mines and current discoveries. But Sanu is in the midst of the big boys. The 2024 drill program is fully funded for up to 8,000 meters of RC drilling. Results will be flowing in for months. Naturally more drilling will be dependent on the company’s ability to raise money and drill results but even the initial results suggest a high chance of 2-5 million ounces. And the company has two more similar projects with identical potential. I’m going to expose a trick or two that the majors have used in the basin for many years to find multiple million-ounce deposits. First of all, the garimpeiro or artisanal miners are quite good at finding economic gold. They should be, they have been mining with nothing more than hand tools for centuries. Second of all, the termites dig down to the water table and bring the material up to surface. Of course, the grade of the gold varies a lot, you can’t sample the entire mound. But any gold means there is probably more down below and it would be a good place to drill. Sanu is down 80% in the past two years even as they have demonstrated excellent results. When the market wakes up Sanu will be one of the first to benefit. I’ve owned shares since they went public and I have continued to average down. Sanu is an advertiser. I have participated in private placements and bought shares in the open market as recently as a week ago. I love the potential but do take some responsibility for your own investment decisions. And thumb through their excellent presentation. Sanu Gold Corporation ### Bob Moriarty 321gold Ltd |
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