Homestake Ridge - British Columbia

In 2011, Homestake Resource reported an updated mineral resource estimate, (NI43-101 compliant) of 191,000oz gold and 1,350,000oz silver indicated plus 530,000oz gold and 13,470,000oz silver inferred at a 3.0 g/t AuEq. cut-off in two separate deposits.

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Message: Potential cup and handle breakout...

Well it's backing off a few cents now but we'll have to see what things look like by the close. The stock is now in overbought territory and has hit the C&H price objective so those are good reasons to be careful. That said, it seems like there is a lot of mo-mo coming in to the sector right as we are entering the strongest part of the year for the mining stocks, so it is possible that we are going to see prices get quite irrational before all is said and done. Like they did last fall, only the other direction this time. Sticking with it for now.

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