FANTASTIC NEWS, EVERYBODY!!!
Are we (CLN:V) shareholders lucky, or what?
Golden Rule (GNU:T) traded over 1,100,000 shares by this time today at...$11.60!!! and Hixon Gold (HXG:V) traded over 350,000 at $10.40!!!
Both, trade at this level due to their gold discovery in Ghana, where, guess what, CLN:V just got a huge piece of the pie!!! I understand that CLN's property it's twice the size of the other two.
I attached for your DELIGHTMENT the Financial Post article on Golden Rule and Hixon Gold.
I'll add three more words to my excitement... OH MY GOD!!!!!!
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Stockwatch: Claimstaker Resources Ltd - News Release
Date:
Thu, 23 Jan 1997 10:57:59 -0800
From:
news@canada-stockwatch.com
To:
silviu.mol@orion.sk.sympatico.ca
Negotiations for Ghana property
Claimstaker Resources Ltd CLN
Shares issued 9,552,121
Jan 22 close $0.67
Thu 23 Jan 97
News Release
Mr R. Somerville reports
The company is negotiating to acquire a major interest in a large property 20km along trend from the Golden Rule-Hixon Gold gold discovery in the Asankrangwa district of the western region of Ghana.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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Thursday, January 23, 1997
Ghana gold play rules market
By DAVID THOMAS -- The Financial Post
While the majority of stocks are still in their 1997 starting gates, shares in Golden Rule Resources Ltd. have already sprinted
past the post.
The Calgary-based junior mining company has emerged as a market favorite, due to investor excitement over exploration at its
Stenpad gold property in Ghana.
Although results from Stenpad are in the very early stages, some mining analysts and market-makers are already talking about
the possibility Golden Rule and its partner, Hixon Gold Resources Inc., are on to a gold find of 20 million ounces or more.
Golden Rule Resources Ltd.
CEO: Glen Harper
Ticker: GNU
Listed: TSE
Head office:
Calgary
Tel: (403)
233-7898
Data supplied by
Bloomberg
Josef Schachter, president of Schachter Asset Management Ltd. in Calgary, said an upcoming drill program has the potential to
prove up a resource of "between 20 million and 40 million ounces."
Shares in both Golden Rule and Hixon began their run in December and have recorded especially strong gains in the past few
days.
Golden Rule shares (GNU/TSE), which traded around the $3 mark in early December, closed yesterday at $12, up $1.10 on
the day and a rise of $3.60 since last Friday's close. Trading was a heavy 2.8 million shares.
From a Nov. 28 close of $2.85, Hixon's stock (HXG/VSE) has soared, reaching an intraday high of $11 yesterday before
closing at $10.70, up $1.10 on the day and $3.25 since last Friday. A total of 1.4 million shares changed hands yesterday.
Both stocks traded minimal volumes in 1996, but recent heavy trading indicates investors have been scrambling to get a
position in this emerging story.
The average daily trading volume for Golden Rule in 1996 was 82,000. This month, the stock has regularly traded more than
one million shares a day, topping the two-million-share mark twice.
Hixon's daily volume, which averaged 67,500 shares last year, have regularly topped the half-million level, exceeding one
million on two occasions.
Initial results from Stenpad have been restricted to surface samples and trenching. The latest figures, released Jan. 7, showed
average recovery grades of 8.8 grams of gold per tonne over a 100-metre trench, considered good.
Hixon holds a 100% interest in the Stenpad property, but Golden Rule president Glen Harper says his company has a
back-in option to earn 50% of any future mining operation.
In addition, Golden Rule owns approximately 46% of Hixon, which means it potentially would control 73% of the mine.
On Tuesday, the company told a gathering of Toronto-based mining analysts that it had recovered soil samples with gold values
of more than one gram per tonne over an area of four square kilometres, and 10 grams per tonne over an area of two square
kilometres.
Newcrest Capital Inc. analyst Jim Steel said that while exploration is not far advanced, he left Tuesday's meeting satisfied with
the methodology of Golden Rule's geologists.
"It's big, it's real and it's there," said Steel of the resource. "The challenge now is to see how deep the anomaly is."
Newcrest issued a "buy" recommendation on the stock yesterday.
Schachter has a 1997 target price on the stock of $20 but said that "if everything comes to fruition ... it could be worth north of
$50, maybe even $100."
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Well... I stoped here you can find the article in The Financial Post.
Enjoy everybody,
Silviu |
