Jon, where are you??
This stock is being hit hard for whatever reason. The good news: it is on very low volume. This is definitely NOT insider selling (they don't usually manipulate their stocks anyway). I believe that this is a classic shake-out and end-month selling (I believe this occurs up to the third day at the beginning of the month).
Anyway, I got some news. They will be releasing the annual report on October 10th. This report will show the location of all SHORT drill holes (FINALLY!). They will also have some other info concerning this property and their Sumatra property. By the end of October, they should have more drill results and the resource update. Thus, I expect a news release sometime in October showing the location of these short drill holes and also results from the most recent drilling. By the second week in November, I expect a news release that will deal mainly with this resource update (i.e. If there exists more than 800,000 ounces of gold, if they will continue to drill, if they will add another drill rig, etc...)
Now, I got some interesting news. They have drilled some short holes at two prospects. One is 500m NE (Tungai) of Doup-Bentang and the other is 1000m SW of Doup-Bentang (Parabo). These are step-out holes and PAW got some very good numbers at these new targets. If the mineralization is coninuous, than you are looking at a large deposit of 2000m X 1000m X 100m at a grade of 2 g/t.
Parabo had holes with grades of: 10m @ 4.94 g/t
6m of 14.56 g/t
4m of 19.55 g/t
Tungai had the "best" results: 20.65m of 7.95 g/t
40m of 5.2 g/t
These results from the shallow drill are VERY IMPRESSIVE. PAW is currently drilling 12 more holes at Parabo and an unspecified number at Tungai.
Any comments??? This stock is quite undervalued and I expect some good news in the next few months. This is NOT a CKS or Borneo, or a Goldstake. They have PROVEN drill results.
Good luck,
David |
