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Rockridge Releases Solid 43-101Bob Moriarty As regular readers will remember I have been calling for a general stock market top in late summer followed by a major crash in September/October. In my opinion we could well have a serious liquidity event. If that happens everything that will catch a bid will be dumped. It will be a great time to pick up the low hanging fruit just as it was in late 2008. I have been getting liquid in anticipation of a correction in gold and a crash in the market. If you agree, either get out of any margined position, stay liquid and put in some really stupid low stink bids. I wrote about Rockridge Resources about two months ago in advance of an initial 43-101 resource from the company. The company has a JV with Eagle Plains on the Knife Lake property in the Flin Flon district home of a lot of prior production from regional VMS deposits. The JV calls for Rockridge to spend $3.25 million on exploration and to issue about 5 million shares. They paid $150,000 when the deal was first announced. There is a 2.5% NSR on production. On the 14th of August Rockridge released their 43-101 with some solid numbers. They show a 3.8 MT CuEq indicated resource and an inferred resource of 0.67 CuEq. The indicated numbers are $75 rock and would be economic in Saskatchewan. While the inferred resource is lower the company seems to have a handle technically and I would expect an increase in grade and tonnage with more drilling. We know copper is going to go into shortage in anticipation of more demand in the future for electric vehicles. Rockridge is well positioned both in timing and location to benefit from higher copper prices in the future. With a $6 million CAD market cap there just isn’t much downside. The company has about $1 million in the bank. Rockridge is an advertiser. As such I am biased but as yet I have not taken a position. Do your own due diligence. Rockridge Resources ### Bob Moriarty 321gold Ltd |
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