Anooraq Resources (ANO-AMEX) – The completion of the acquisition is expected shortly. I believe this should bring a big bump up in the share price. The rise in platinum prices won’t hurt either. Stay tuned.
ATW Gold (ATW-TSX-V) – Like many of the emerging gold producers, ATW is beginning to generate a lot of attention as they move towards production in March. I have high expectation for 2009.
I’ve put together a quick summary of the company’s progress in Australia to date. A full corporate update, which will include the updated mine plan and production schedule for Burnakura, is scheduled to be released by the end of the month. Brent Butler and his team have made considerable progress at both the Burnakura and Gullewa mine sites:
On the exploration side, ATW has had continued success with the drill bit: consistently hitting high-grade intercepts during their fall program:
- 16.0-metre intercept, grading 9.79 grams per tonne gold.
- 23.7-metre intercept, grading 16.0 grams per tonne gold
- 15.6-metre intercept, grading 13.7 grams per tonne gold
Refurbishing of the plant at Burnakura is nearing completion, with the elution circuit for gold recovery and the gold room being the only items remaining to be completed. Recently, the crushing circuit and mill were commissioned with great success. A video of the crusher has been posted on the company’s website www.atwgold.comm
A new zone within mining distance of the underground workings has been discovered; drilling has yet to fully define this new zone but the results to date will be included in ATW’s new mine plan.
The underground mining contractor has been selected and management tells me they are pleased with the proposed cost for delivery of ore to the plant.
An IP survey and gravity survey were completed on the Gullewa Project. Interpretation of these surveys show that the current 750,000 oz Deflector Deposit could continue for an additional 1500 meters. Gullewa should add another dimension to ATW’s story when it is drilled this spring.
Moving ahead in 2009, I believe that ATW can benefit from the easing of fuel prices and labor costs in Western Australia, giving the company some breathing room in their projected cash operating costs of $700 AUD per gold ounce. The economics at Burnakura continue to be robust, with the price of gold in Australian dollars recently hitting $1200. The transition from explorer to emerging gold producer can create significant value for shareholders in 2009.
Bravo Ventures Group (BVG-TSX-V) A brand new client. I hope to have a full report out shortly. (more…)
