ANDINA MINERALS (V-ADM) $4.37 -$0.01
We’ve been trying to find Carl Hansen, the President and leader of Andina Resources for the last two or three days, so far with no luck, but we assume he’s somewhere in Chile. Meanwhile the company has announced something every company hopes to do on a regular basis...they’ve increased their resources on their Volcan Gold Project in Chile. This is a project that is mainly low grade gold and at quite a high elevation that other companies such as Meridian are making tons of money mining, not too far away. Anyway, the news is that Andina in a 43-101 compliant resource estimate, now suggests they have a measured and indicated resource that have been increased 48% to 2.93 million contained ounces of gold, while the inferred resource increased 188% to 4.2 million ounces of gold at a 0.5 grams per ton gold cutoff. This is a rather significant increase and of course it’s getting very close to the magical number of five million ounces of gold, a number that everyone has to take very serious. Meanwhile, Steven Butler, the mining analyst at Canaccord has decided to up his target to $7.50. We own a bunch, but if you don’t and are looking for interesting gold plays, email Jenn at Jennifer_Lagdamen@Canaccord.com to take a look/see at this story. Andina Minerals www.andinaminerals.com |
