1. Gryphon Minerals (GRY.ASX) has found support, and I expect a breakdown in this one in coming week or two.
2. Gippsland Ltd (GIP.ASX) - made a decision to quit this one in the short term because the tide was telling me there was going to be an issue. I will sit on the sidelines waiting for a re-entry into this one.
3. Global Minerals & Energy (GBE.ASX) - I sold out of this one because it was not making any progress. I remain interested in the stock on weakness, however the share buy-back, whilst a source of support, its only the case up until 7.3c, at which point sellers triumph. The buy-back expires in June I think, so I will see what happens then.
4. Millenium Minerals (MOY.ASX) - Remain interested in this one, but only on weakness, since I see Gryphon Minerals as better exposure to the gold sector.
5. Archer Exploration (AXE.ASX) - This stock has had some favourable news about its metallurgical grade for its graphite. Aside from the prospects for a resource upgrade, the possibility of a JV farm-in partner, I am inclined to view this as a nice investment because the product quality value might ultimate offer a exponentially high purity. Its a global resource and they are testing other targets in coming months.
6. Silver City Investments (SCI.ASX) - This is an explorer at Broken Hill. I know these executives from former CBH Resources (aka Consolidated Broken Hill). The prospect of current drilling finding a 'lost limb' to the Broken Hill field looms high as a potential speculative play for a small company. I like this company for its cheap entry into an often overlooked mineral province.
7. Union Resources (UCL.ASX) - There is according to a recent interview the prospect of a fast-tracking of this project. UCL has a 45% interest worth (backed on the exit price of Minemakers of 45c per UCL share), so at 13c they are excellent entry. I presume the buyers wanted to make money from their stake, so I'm also seeing the value-add of in-house (Marmain Mining Plc) engineering expertise.
8. North West Resources (NWR.ASX) - This is a company which I like because I think antimony-gold make for a glorious resource base. The metal association gives good continuity for gold when in presence of stibnite (antimony sulphide), though its probably going to be a deep resource, and the vendors are very slow to progress the project. Recent drilling gives confidence to this resource.
I am expecting the focus to be on SCI and AXE because they are currently drilling. I'm also expecting a technical break-out in GRY in the coming week.
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