Thursday, September 12, 2013

Daily Readings

Gabriel Resources Threatens Romanian Government with a 4bill Suit - Their Rosia Montana Gold project in Romania got a no-go from the Romanian. CEO believes that international investment laws have been breached. This is a monster project. 17.1 million M&I oz Au at 1.04 g/t (including a 10.1 million oz reserve grading 1.46 g/t) and 81 million M&I oz Ag at 5 g/t (including a reserve of 47.6 million oz Ag at 6.88 g/t). Read HERE

First Majestic Writes off its Wirikuta Property in Mexico - Locals were complaining that the project would be on "scared" grounds. Read Here (In Spanish)

Ascot Resources Hits 10 Meters of 33.66 g/t - Sounds better than it is. Look at the drill results here. Its not really over 33 meters. Took 3 meters of high grade mineralization and averaged it out over 33 meters. their reports a quick look, it is described as high grade gold dispersed between bulk tonnage zones.

Alexandria Minerals Announces $800,000 PP - News release is actually 2 days old, but just wanted to point it out. In an industry in these conditions its impressive to see a PP at twice the retail price without any warrants. Last I checked they had 2 million oz Au in Quebec. First tranche closed yesterday at 10 cents, retail price is 5 cents. Press release here

Ginguro Closes $2.3 Million PP - They sprung in price off of some drill results the other day. This PP was initially priced at 1.2 million, but terms were changed upon high interest. Each share has a half warrant attached. Not a lot of retail people in this play. Read here

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