East Asia Minerals* (EAS : TSX-V : $6.29), Net Change: -0.11, % Change: -1.72%, Volume: 753,997
Every drop one of those foam dinosaurs in water? Watch it GROW. Shares of East Asia Minerals, which have doubled since
mid-February, took a breather Tuesday after the company announced another set of drill results that add to the long-term
strength of this story. Overall, these most recent drill results, a series of infill and step out drill results in the west central area
associated with collar locations EMD001/002/003/018, met expectations and demonstrated a new geological interpretation
that could add expansion potential to west. East Asia's revised geological/structural interpretation suggests the area being tested
could have a shallow westerly dip which could open potential for mineralization to extend further west by up to 600 m. Last
Thursday, shares of East Asia jumped to highs as the price of gold rose, M&A activity in the gold sector continued (Lihir
Gold (LGG) turned down an approximately A$9.2 billion takeover offer from NewCrest Mining) and investors anticipate more
growth through the drill bit out of East Asia in the near term. East Asia has been quite the story over the last little while, as the
company just continues to pull out impressive drill results from its project in Indonesia that get speculators, investors and
analysts alike even more excited. Canaccord Adams Senior Mining Analyst Wendell Zerb is bullish on the story and believes
East Asia's shares could continue to be driven by speculative interpretations (no formal resources outlined) over the next several
quarters as new results build on the size potential at Miwah and the surrounding area. |
