East Asia Minerals (EAS.V) Message Board

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Gold/Mining/Energy : East Asia Minerals (EAS.V)

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From: zoo york	5/16/2010 2:45:42 PM
	4 Recommendations of 2456

Just back home today after a week of vacation on the west coast, and I picked a great week to be away. I did check my PF a couple times on the road and shrugged it off to a week of volatility on the markets that has prompted some traders to reel in their leverage and take some profits. These kind of corrections tend to be short and severe. EAS was well into overbought territory and definitely in need of a breather so I am happy. I currently have a market buy order in to get a few more shares, and I do hope we drift lower for another day or so and I will dip in for more yet. The bottom line for this story is Miwah represents one huge chunk of resource, and I think at this early stage the potential for most of the gold zones so far to be economic is very good. This chatter about low grade is nonsense. "Low grade" compared to what? I can name a dozen large gold producers with average grades that are in line with what EAS has been reporting so far. I recall late last year another significant selloff for EAS that drove it from around $3 to below $2 and the catalyst was the exact same kind of NR: decent grades over wide intervals that happened to fall below market expectations. It represented an ideal time to buy more. I expect this time around will be no different. Miwah is shaping up to be a huge story. This deposit is not going to go on forever. There are limits to what will be defined. We have found indications from Hole 25 that the deposit is thinning out on one margin. It remains open to expansion to all other points of the compass, and to depth for that matter. I expect we will have dozens more step out holes with great results, and probably a few high grade feeder zones reported in the months ahead. This make investors forget all about the lower grade intervals. And then sometime ahead the gold will thin out and we will have the upside target defined. THAT is the time to take money off the table, IMVHO. For now I am buying the hell out of the dips, and selling a bit into rallies. I still think the potential at Moon River could put EAS on the course for high double digits. Or maybe there will be nothing of interest there at all and we will have to focus efforts elsewhere. There are still plenty of untested targets that can carry the ball before things settle down to infill drilling, and the entire project will probably be in play long before they get that work done. cheers! mike

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