ROL 0.00% 48.5¢ robust resources limited

us$10 gold moves not relevant to rol trading!

  1. 24,765 Posts.
    As we have already seen, US$10.00 rises and falls in the price of gold overnight have been pretty much irrelevant to ROL's trading here the next day.

    Investors who out of habit bailed out on opening following an overnight gold price fall have found out the hard way that all they've done is give cheap stock to astute buyers who have been very pleased with their gifts.

    ROL has risen strongly on some solid gold down days when nearly every ASX gold stock is in the red. Often after a sell down early!!

    ROL has reached a new record share price while the US dollar price of gold has fallen by over US$120.00.

    Come to think of it, why should minor gold moves have any serious influence on the ROL share price while this company, with not many shares on issue, is still capitalised at next to nothing compared to the possible riches of a Lihir like gold find on Romang Island?

    In a report released to the ASX on 16th. December ROL Managing Director Gary Lewis stated:

    The 2009 drill program at Lakuwahi has proved very successful and it is the Boards belief that future exploration work across the prospects will continue to deliver strong results, defining Romang Island as one of the key gold discoveries of recent times. I look forward to the 2010 work program and updating shareholders on our continuing success.

    Note the words: "defining Romang Island as ONE OF THE KEY GOLD DISCOVERIES IN RECENT TIMES." (My capitalls for emphasis.)

    After the recent sensational near surface drilling results I believe plenty of investors are getting set in the belief that ROL is in the very early stages of proving up multi millions of ounces of gold - plus throw in some base metals like copper just for good measure.
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