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Message: EAS/EVG

EAS/EVG

posted on Dec 11, 2009 12:04PM

wow...i get up at 8:30 and just get hit with a wall of new posts...now that im done reading and skiming through the new HRA i figured id share there ideas on EVG and EAS with all of u.

East Asia Minerals (EAS-V, EAIAFQbb;
$2.85 on V) announced that it has
completed the conversion of the Miwah project
into the new “IUP” status that is similar
to exploration concessions elsewhere. Indonesia’s
new mining act and regulations bring
it from a system of bureaucratic negotiation
and delay to one where tenure holders have
defined waypoints and on-going rights, or
more briefly to a modern system of the type
that has allowed Peru to prosper. The IUP
allows for a further three year period of exploration
license, after which the is a 40 year
exploitation period. EAS is one of the first
companies to successfully convert to the new
system, which in this case means Miwah
goes from being indirectly held through domestic
nominees to a status that allows direct
foreign ownership. Tenure is an issue
December 2009 HRA Journal 7
everywhere and we are sure there are large
scale investors and potential buyers that
were waiting to see the IUP conversion completed
before contemplating involvement.
EAS released two more holes this month,
both of them step outs to the east along Miwah
ridge. Drill hole MED012A cut 183.5
metres of 1.28 g/t gold including 77.7
m of 2.1 g/t gold in the near surface portion
of the zone. This hole is collared 165
metres east-northeast of previous testing.
Drill hole EMD013 was drilled in the opposite
direction (east) from the same set up and
intersected 153 metres of 1 g/t including
1.41 g/t over 91.5 metres. Like many
other holes drilled in this program this one
ended in mineralization, in this case a 4 metre
section grading 1.69 g/t gold. The tested
extent of the Miwah zone is now about 1 km
along its east-west breadth. The next set up
to the east required more extensive pad
building, so EAS moved the rig to a pad 220
metres west northwest of the collars for
holes 8-11. Hole 14 was completed there;
the rig is now moving to drill hole 15 on a
pad east of the hole 11-13 pad.
Continued success on the exploration front is
slowly getting recognized more widely. Two
institutions we know of are now formally following
the company and we expect that list
will grow in the near term. We’re surprised
its taken this long for others to start following
a project and management group with
such obvious potential, but we’re happy for
the company now that the stock is up.
Though gold explorers will have volatile markets
going forward we continue to think EAS
will be one of the winners in this scenario as
it gets increased coverage and buying from
those looking for leverage and the potential
for large resource growth.
The receipt of drill results should accelerate
after the New Year, and we should start to
see results from testing of other targets at
Miwah and from other projects. Though its
taking time for the market to come around to
the idea, our view that Miwah will prove to
be one of the premier finds of this cycle has
not changed. We maintain a strong buy outlook
for the stock.
http://www.eastasiaminerals.com/

and...

Evolving Gold (EVG-V; $1.08 on V)
has now closed the financing that seemed to
be generating so much selling and the share
price has stabilized at the levels it was at in
early October. $11 million was raised in this
financing which should give the company
roughly $20 million to work with in 2010.
EVG also released more drill results which
included highlight holes of 122 metres
grading 1.15 g/t gold and 128 meters of
1.09 g/t gold at North Stock and 36.6
metres grading 2.05 g/t and 91.4 metres
grading 0.88 g/t gold at Antelope
Basin. Drilling continues to infill and expand
the bulk tonnage zones at Rattlesnake
though it may take some real high grade intercepts
to generate market excitement.
There are still 40 holes to report from the
2009 program.
The release also indicated that surface mapping
and sampling programs have generated
five new target areas in the immediate vicinity
of the drilled area. All the areas contain
exposures of the same rock types that make
up the known zones and all display some
gold grades in the sub gram range, similar
to the surface exposures that led to the
North Stock discovery. EVG plans to include
these zones in its 2010 drill plans. EVG is
holding its own in a weak year end market,
thanks to the large amount of reporting still
to come. Its aggressive exploration style
should continue to keep the interest level up
through the cold months. Hold or accumulate
on weakness for more news to come
from Wyoming and Nevada.
http://www.evolvinggold.com

Also they have an accumulate on weakness for Hathor(HAT)

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