AND 0.00% $6.61 andean resources limited

in todays paper

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    Gold going cheap

    PSST, want a cheap 5 million ounce gold deposit?

    Fat Prophets is picking that some predator will strike soon at Andean Resources (AND). The company hit $2.24 last December but plunged from 75.5c on Friday, October 17, to a close at the weekend of just 50c.

    Fat Prophets said it was more confident than ever that Andean was looking at a 5 million ounce project at the Cerro Negro project in Argentina. Areas drilled so far have a 2.7 million ounce gold equivalent (gold and silver) resource. A pre-feasibility study is due within days.

    The client note concluded: "The opportunity for a cashed-up gold predator is clear: get your hands on a large, growing gold resource base, where operating costs should be low by industry standards."

    Cerro Negro was discovered by the old MIM and then sold to Andean Resources for a song when MIM was broken up by Xstrata. The new owner has drilled only about a quarter of the targets MIM identified.

    http://www.theaustralian.news.com.au/business/story/0,28124,24555451-18261,00.html
 
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