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  • 2 months later...

Broken all rules earlier today by taking a position in DRM (gold explorer) because:

 

1. DRM coming up with sensational grades--eg the Wilbur Lode at Andy Well is estimated to contain 172koz grading 25.3gpt

2. Massive ongoing drilling

3. Anticipated production costs are $A323 per ounce

4. Well funded--$20m cash with no debt

6. Share Registry tight as a drum, original investor still holds 20%

7. Close neighbour to Kentor, Ramelius, Reed, Silver Lakes.

8. IMO T/O prospect as RMS has declared itself a major holder twice recently--now holding a 6.63% stake in DRM.

9. Resource update due before years end

10. Bankeable Feasability Study due Q2 2012

 

NB: ESSENTIAL to do your own Fundamental Research, but on the face of it with grades like this and anticipated production costs this low with Gold in AUD at 1653 seems well worth the punt--IMHO.

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We'll see what happens tomorow but never thought would be lucky enough to be involved with a stock up nearly 12% on entry day where the paltry sum of $A41K would buy the whole DRM market--I know its an after hours market picture but it's reassuringly nice nevertheless.

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Went to the Mining 2011 Convention in Brisbane on Thursday and Friday. Great convention, one of the best I've been to. I saw 18 presentations.

 

My "Top 4" in order from the ones I saw:

 

1. Doray Minerals (DRM)

 

(Simply OUTSTANDING exploration results and have only scratched the surface). Run by a smart geo in Alan Kelly (ex WMC).

 

Only risk is will Ramelius take them out early???? If not, this is a multi bagger even from $1.50. 15c less than two years ago.

 

2. Northern Star (NST)

 

Astute management and Paulsens' mine life looks to increase by several years. Ashburton the cream.

 

6c to 60c in less than 18 months. Still cheap.

 

3. MacPhersons Reward Gold (MRP)

 

The guys who discovered and developed Daisy Milano for Silver Lake are behind this new company.

 

4. Kentor Gold (KGL)

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  • 3 weeks later...

"2. Northern Star (NST)

 

Astute management and Paulsens' mine life looks to increase by several years. Ashburton the cream.

 

6c to 60c in less than 18 months. Still cheap."

 

 

Well it certainly was still cheap at 60c but I'm now out at 89c. Probably still cheap below $1 but happy to take the profit.

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