OZM - OzAurum Resources

[greggles]

OZM has been holding up rather well since last week's share price surge. In Friday's trading it briefly touched 17c but was met with a wall of selling as that is near the price that shares from the previous CR were issued at. I think it was 16c. Anyway, it finished Friday at 12.5c and this morning it is trading a cent down from that at 11.5c.

Word has come through this morning that due diligence has been completed on the Linopolis Jaime hard rock lithium project on Brazil and the acquisition will proceed as planned.

I expect some more price weakness in the short term as profit takers continue to exit and think the share price will flirt with the 10c level soon. A break down through that level would be bearish, so I will be keeping an eye on its price action in the coming days.

 

[greggles]

OZM is having a good November so far, up from around 8.5c to 15c. Management has shifted their focus to the Linopolis Jaime Lithium Project in Brazil and it is starting to look very promising.

The market is showing a high level of interest in OZM at the moment with sellers unwilling to part with their stock amid an upkick in buying, sending the share price spiraling higher.

 

[greggles]

OZM down from 20c to 11c in only a couple of weeks. There has been no bad news announced during that time. I think the recent sell off is overdone and we will see a rebound in December.

 

[Sean K]

This has gone nuts on some pretty average intersections, IMO. 60ggm intersections are a dime a dozen.

 

[greggles]

This has gone nuts on some pretty average intersections, IMO. 60ggm intersections are a dime a dozen.

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Market cap still only ~$18 million after today's gains. They say they have 260,000 oz at Mulgabbie (before today's announcement) and that they will be generating cash soon.

Furthermore, we have made significant progress on the Mulgabbie heap leach feasibility study, in partnership with Line Hydrogen Pty Ltd. Designs for a trial open pit mining and heap leach processing have been underway with the potential for this to be a cash-flow positive operation in the near term. The Company is reviewing options for a simplified and expedited DEIMRS permitting process.

More drilling results are pending and expected to be announced next week. Follow up RC drilling to commence almost immediately. Management are moving quickly on Mulgabbie.

I don't think it's just today's results that are driving today's share price gains but the expectation that more of the same are on the way and near term cash generation. Some real potential here if luck goes their way.

 

[Sean K]

Market cap still only ~$18 million after today's gains. They say they have 260,000 oz at Mulgabbie (before today's announcement) and that they will be generating cash soon.



More drilling results are pending and expected to be announced next week. Follow up RC drilling to commence almost immediately. Management are moving quickly on Mulgabbie.

I don't think it's just today's results that are driving today's share price gains but the expectation that more of the same are on the way and near term cash generation. Some real potential here if luck goes their way.

Certainly some high expectations that those intersection might indicate a major system. Could be just a HC rampathon too.

 

[greggles]

Certainly some high expectations that those intersection might indicate a major system. Could be just a HC rampathon too.

Plenty of news flow to come in the next few months so it will be interesting to see how it all plays out.

 

[greggles]

OZM following through nicely this morning hitting a high of 15c on another day of very high volume. Someone obviously thinks OZM is really onto something here. Some very big buys going through makes me think instos are getting in on the action.

Timing has a lot to do with it with gold at all time highs but this stock is moving like someone knows something.

Could this dog finally be having its day?

 

[Dona Ferentes]

OZM following through nicely this morning hitting a high of 15c on another day of very high volume...

first Announcement on 03/2 with an update yesterday. V nice

Update on its new gold discovery at the Mulgabbie North Gold Project.
Highlights
• High-Grade Gold Discovery at Mulgabbie North: Visible gold recovered from the recently drilled aircore intersection that assayed 4m @ 14.17 g/t from 16m (MNOAC 705*).
• Rapid Follow-Up Drilling: RC drilling rig expected to arrive onsite late next week to expand on this exciting new discovery.
• Significant Quartz Veining: Up to 50% quartz observed in multiple high-grade intervals, a hallmark of significant gold systems.
• Host Rock Confirmed: High-grade gold mineralisation hosted in in favourable sandstone units within the Cross Fault area, similar to other major gold deposits in the Carosue Dam Basin.
• Pending Assays: One metre samples in the laboratory with results expected in the next week.