   |
|||
Drilling for DollarsBob Moriarty One of the real pleasures in this business is meeting people and going to different projects and seeing really great management turn investor’s hard earned money into increased share value. Obviously with the increase in the price of gold from under $1200 a year ago to over $1400 has brought a lot of interest to the mining arena. But more important is good management delivering great results. Last week brought a flurry of nice drill results from several of our advertisers. I thought about it and realized the news might have been lost in the smoke from the burning turkey. These are great results. Richfield Ventures (RVC-V) was $.87 in June even though there were dozens of good holes released before then. Last week they announced more barn burning results. One hole showed 171 meters of 3.13 g/t. While the guys smart enough to buy back in June are sitting on 400% gains, a $200 million dollar market cap isn’t much for a company that obviously has the goods. One of my very good friends and brilliant technically, Quinton Hennigh, works as an advisor to Akiko Levinson of Gold Canyon Resources (GCU-V). For some strange reason Stockwatch can’t get it through their heads that mining companies don’t have to be run by men. They continue to identify Ms. Levinson as Mr. Akiko Levinson but that hardly detracts from her brilliant leadership. GCU announced a blistering hole of 225 meters at 1.48 g/t last week. Gold Canyon has about 90 million shares outstanding and with a $2 price tag, that infers under a million ounces in a buyout. They have a lot more than a million ounces at Springpole. The true width of the mineralized structure looks to be about 140 meters. They have a lot more than 5 million ounces of gold in my view. They have advanced from $.15 a year ago and $.26 as recently as August but there is still lots of potential in them. I’ve written about African Gold Group (AGG-V) a couple of times and they, too, came out with great results last week, only overshadowed by RVC and GCU. The best hole was 102 meters at 1.0 g/t from the surface and ended in mineralization. AGG holds a 740,000-ounce resource already and these holes extend the mineralization by another 200 meters. AGG was as low as $.26 a share as recently as August. While the shares have increased 150%, African Gold is still in the windup stage and has a lot of room on the upside. With a market cap of just over $51 million, AGG is only getting $70 an ounce for what they have already announced. All three companies are advertisers and we own shares so we are naturally biased. They are approachable and we encourage potential investors to go to their website and to contact management with any questions. We remind investors that we share in neither their profits nor their losses so you are responsible for your own due diligence. Richfield Ventures Gold Canyon Resources
African Gold Group
### |
