ARE 0.00% 0.5¢ argonaut resources nl

are argonaut taking off ahead of the drill program

  1. 2,698 Posts.
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    I saw this nice little drilling spec play - 34m shares o/s at 12.5c ($4.4m mkt cap), $1m of cash in it, and two drill programs kicking off right away on its South Australian base metal targets. This was a spin off of the old Pima Mining, and has the Lake Torrens Olympic Dam targets as well as their Alford/Netherleigh Park copper/silver properties. They got good results out of the last program on Alford (14m @ 2% copper & 4m @ 408g/t silver) which was initial diamond drilling, and core drilling up strike kicks off in the next couple of weeks, with results out end August. Given that they are drilling along an identified geophysical structure and know the geology and arent going for an aggressive step out, it is likely they will hit the same stuff, and hopefully get the grades.

    Put it on the radar, I took a position in it and reckon it has 20c+ on it leading into the drill program. The stock was cleaned up by management via a buyback and seems pretty tight.
 
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