MIL Resources (MIL.ASX) has been going sideways in recent times. "Gold is great", but it makes more sense if you are producing it, or exploring for it. This only occurs when companies start sinking holes. This is the case with MGK. This month they commenced a drilling program on their PNG gold projects, and based on the indicators from surface trenching and their geological association, I am expecting some high grade results over widths of 4-20m. This makes for very attractive small scale mining. I'm expecting this stock to break out of its 2c resistance very soon, so I have rebuilt my stake in this company.
Alkane Exploration (ALK.ASX) - a stock which I have liked for a long time, has recently announced that its looking at a 1mtpa processing plant for its Dubbo rare earths-zirconia plant. This project has a NPV of $1.2billion, yet the company is capitalised at just $450mil. I see upside for this $1.70/share stock (we recommended at 45c) to $2.00, however its going to need an issue soon, despite its $18mil in cash. Market confidence will be another factor paring back the prospects of a 1mtpa plant, even if the 'anti-China' stigma favours full development of this project. I'd question if their suite of rare earths are even refined in China. I've done no research to find out.
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