Club Mulgoa

Monday, January 24, 2011

CHN

I still have DRA. Slow but decent progress with each good announcement and it is a gold PRODUCER.

It used to be a JV partner with CHN in Eritrea but it quit the region to concentrate on its Scandinavian resources. That is how I heard about CHN. I almost went "bankrupt" today because I put a low for CHN and collected some shares in it. So I had to beg my accountant to put extra $$$ into my super account to pay for it in 3 days.

This company is in its early stage as a future producer. Will it be a ten-bagger? Only if it strikes more gold with exploration. I looked at its presentation last year and notes its low production cost with high grade Au but it isn't a big deposit (ie under 1 million oz of Au).

This evening, I had to put much lower prices for my buys otherwise I could be naked if more buys get through!

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