Wednesday, August 02, 2017 11:56:48 AM
ERD.TO - buying and hoping for NexGen repeat.
Bought a bunch more ERD.TO. Erdene has discovered what could be a world class gold district in Mongolia. Its in the middle of nowhere so they have to prove up a significant resource but drill hits like TND-101 110m @ 9.3 g/t gold at Altan Nar don't come along often (link back a post for PR)
Erdene has come way down to support and is back to where I was originally looking at it in January as a top idea for 2017. Recent drilling has only been hitting 1-2 g/t gold at Bayan Khundii and explains the weak share price, as well as the general need to retrace a stratospheric move that all stocks experience.
I'm betting on more big hits coming up as the next round of drilling is step-out/exploration:
“As we continue to expand outward from that area in Q3 we will be testing six new target areas up to 1 kilometre from the original
discovery at Striker Zone. In addition, as drilling progresses through Q3, we will move into the untested 3.5 kilometre long gold-in-soil anomaly that continues north to Altan Arrow, and ultimately return to
drilling at our Altan Nar project, 16 kilometres to the northwest.”
http://www.erdene.com/news_releases17/pdf/ERD-News-Release-BK-Drill-and-Met-July-17.pdf
The chart is below. $CAD 122M MC. The 6 month potential here is another quick double on exploration success/gold sector break out as the set-up looks similar to NexGen per my post from late in 2016. Check out the chart similarity! NexGen setup in hindsight was a slam dunk how far it came down (over $3.00 now!)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=126271129
Bought a bunch more ERD.TO. Erdene has discovered what could be a world class gold district in Mongolia. Its in the middle of nowhere so they have to prove up a significant resource but drill hits like TND-101 110m @ 9.3 g/t gold at Altan Nar don't come along often (link back a post for PR)
Erdene has come way down to support and is back to where I was originally looking at it in January as a top idea for 2017. Recent drilling has only been hitting 1-2 g/t gold at Bayan Khundii and explains the weak share price, as well as the general need to retrace a stratospheric move that all stocks experience.
I'm betting on more big hits coming up as the next round of drilling is step-out/exploration:
“As we continue to expand outward from that area in Q3 we will be testing six new target areas up to 1 kilometre from the original
discovery at Striker Zone. In addition, as drilling progresses through Q3, we will move into the untested 3.5 kilometre long gold-in-soil anomaly that continues north to Altan Arrow, and ultimately return to
drilling at our Altan Nar project, 16 kilometres to the northwest.”
http://www.erdene.com/news_releases17/pdf/ERD-News-Release-BK-Drill-and-Met-July-17.pdf
The chart is below. $CAD 122M MC. The 6 month potential here is another quick double on exploration success/gold sector break out as the set-up looks similar to NexGen per my post from late in 2016. Check out the chart similarity! NexGen setup in hindsight was a slam dunk how far it came down (over $3.00 now!)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=126271129
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