Currie Rose Resources (CUI, TSX-V) has been a BMR favorite for a year now, ever since we first learned about the potential of the company’s properties in the Lake Victoria Greenstone Belt of Tanzania. CUI is no newcomer to this African country where Gold production and exploration have exploded over the last decade. It has been active there since 2005, and at the moment the company is in the midst of its most aggressive drill program ever.
Last week, Currie Rose announced it has completed 16 holes at Sisu River and 4 holes at Dhahabu, properties that form part of its large Mabale Hills land package. Each hole intersected disseminated sulphide mineralization and assays are pending. The Mwamazengo Property at Mabale will also be drilled but for now the drilling has shifted 200 kilometres to the southeast to highly prospective targets at Sekenke, a Gold area of historical significance in Tanzania.
Over the weekend, Jon had a fascinating discussion with Currie Rose consulting geologist Mike Griffiths (also a director of the company). To listen to Part 1 of that interview, please click on the link below:
BMR Interview With Geologist Mike Griffiths (Part 1)
Note: The interviewer holds a position in Currie Rose Resources. No compensation was paid to BMR by Currie Rose Resources for this interview in accordance with BMR policy. Our stock coverage is for informational purposes only and must not be viewed or interpreted as “buy”, “sell” or “hold” recommendations. Please read our disclaimer.
Looks as if the only thing exciting on VGD today was
during pre-market, when level II showed the bid & ask
at 0.35-0.35, with over 100K on the bid. So we wait
& we wait. R !
Comment by Bert — August 29, 2011 @ 11:05 am
From the Gold report interview with Chen Lin
———————————————
I want to mention another stock that is under the radar, Helio Resource Corp. (TSX.V:HRC), which is drilling in Africa and already has 1 Moz. of gold. Its market cap is very tiny, but it has some very important, pending results coming in the next few weeks. It is drilling to a mere 200m for open-pit gold. If it can upgrade its resource to a few Moz., that could make the company very cheap versus its market cap. It could see some major movement in the second half of the year.
TGR: That is the SMP Gold Project in Tanzania that has multiple zones of gold mineralization at shallow depths. Could that be a target for a company like African Barrick Gold plc (LSE:ABG)?
CL: It’s possible. Helio is an exploration company run by geologists. Its goal is to find a deposit and then sell it to the majors. If we use $100/oz. in its existing gold inventory that is already worth $100M and it is looking at a much higher stock price. It could expand dramatically with its recent drilling results. The company is well funded with $8M in the bank. It doesn’t have to raise money for a long time.
TGR: Helio is trading at just below $0.30 right now. At what point would you not get into Helio?
CL: I think it is dependent on its drill results and those are unknown. When the stock moves, it can move very fast. With its existing resource, around $0.30 is pretty good. But I don’t know what the drill results look like, so that will decide what the new valuation will be.
Comment by Bert — August 29, 2011 @ 11:29 am
GBB … as I predicted last week… it will go down as it was only good for a day …. closed at 35.5 cents which is close to my BUY price… I may get it soon… BER is quiet today and closed at 15 cents… my sixth sense tells me that it will jump soon…. believe it or not. MTU as I said last week… it should reach 45 cents and today, closed at 45 cents… I did not do anything in this one. CQX closed at 10.5 cents and this is a bargain price… NAR… no transactions. TYP closed at 65 cents unchanged and this one will go to 70 cents which is more acceptable price. SD someone scooped all at 3.5 cents… wise guy and you will be rewarded soon….
Comment by Theodore — August 29, 2011 @ 12:23 pm
Regarding comment # 2 re HRC, it was posted in part, to remind those, who are shareholders
of CUI, that Tanzania is a place for Gold. R !
Comment by Bert — August 29, 2011 @ 12:27 pm
Maybe BMR would like to take a look at DVV.. They completed their IPO just one year ago. Since then,
they have 2 properties & this play may be the exception to the rule, where we don’t have to wait
that long for a run. The right share structure, the right price, maybe the right time & BMR could
be the right group to bring it forward. R !
Comment by Bert — August 29, 2011 @ 3:06 pm
How come my comments only show up on my own computer?
Comment by Tim — August 29, 2011 @ 9:07 pm
Tim — How come my comments only show up on my own computer?
Bert –Forgive me, but i have to take advantage of this one in a joking manner that is:
You have to press the send button.
Comment by Bert — August 30, 2011 @ 2:54 am
Bert, Thanks for the technology update. I believe you are referring to the Submit Comment button rather than the send button, but I think I have it under control now. DVV does look interesting, I had a look at it late last night. It will be intersting to watch this one unfold as they get permits to diamond drill. I also see no results have been released yet on the gold property. Might be a good entry price for those who don’t mind a little bit of risk.
Comment by Tim — August 30, 2011 @ 8:28 am