Paterson Region WA
New exciting area... in Paterson Region in WA.
Latest is Rio Tinto pegging huge areas there with a major copper discovery, together with gold.
However, what I am interested in is nearology, ie which tenements are already there, nearby, which are cheap and ignored. So far there is ARV...
There is one tenement there owned by a company listed in AIM (UK) called GGP which has discovered a huge amount of gold there, thick and good grade but not shallow. ARV is next to it...
RIO's appetite has been whetted so is mine :-)
posted by Club Mulgoa @ 1:40 PM
6 Comments:
ARV is at its low while AZY has doubled... but AZY is what RIO wants!
This is from The Australia on 12/3/2019...
"Newcrest Mining has pounced on one of the most exciting mineral discoveries in Australia in recent years, striking a deal that will see it pump $US65 million ($92m) into the Haveiron copper-gold project in Western Australia’s Paterson Range."
Yet, the price of AZY has not moved and ARV has fallen to 5.3c since I bought them. Always move in before the market cotton on to it...
After I bought, ARV has fallen off but when Newcrest moved into Havieron deposit, it has a minor spike upwards. I collected some at 5.4c and it ended yesterday at 5.6c
But AZY which has had very good drilling results, and exploring further (with capital from RIO), is almost stagnant at 2.4c.
For me, both are very nice to top-up if other investors are uninterested!
Just to be sure on my investments in the Paterson area, RIO had applied to upgrade the dirt road to the area and also to build an airstrip. That means the initial hush hush discovery of a major mineral find has to be significant.
How did I miss this article from such a long time ago??? I have entered my email address to be kept up to date by LiveWire
https://www.livewiremarkets.com/wires/will-you-win-from-winu-copper-find-rio-still-refusing-to-say
Nearology only works when the exploration turns out good results... So far, it hasn't been great for me. But I am a very patient investor.
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