re: Ann: Boungou Gold Prospect - New assay re... What does MET...

re: Ann: Boungou Gold Prospect - New assay re... What does MET have to do to attract buyers? After today's excellent announcement, the price went backwards.

Robin Bromby gave MET a plug in Pure Speculation today.

http://www.theaustralian.com.au/business/opinion/gold-shines-as-bad-economic-news-builds-up/story-e6frg9ex-1226088889756

NO wonder gold went up $US30 an ounce last night - the growing realisation that Greece will still default (only later, rather than sooner) plus Portuguese government debt being classed by Moody's as junk should have been enough to do that.
Throw in last Friday's purchasing managers index figures from China (the worst since the depths of the GFC) and continuing stalemate on debt in Washington and you have the icing on the gold cake.

The only surprise is that, as gold prices slipped a little in preceding days, commentators and the business media viewed that slight easing seriously and worth getting agitated about. The very fact that investors moved to the US dollar as a safe haven is astounding - the Americans are going to have to keep on printing money simply to pay the interest on the $US59 trillion ($55.18 trillion) debt owed by governments, companies and individuals.

The gold price has risen every year since 2001. Since then, we have had an enormous wave of investor buying, creation of gold-exchange traded funds and China hoarding gold as if the world is about to run out of it. Now, too, there is net central bank buying - the days of European central banks dropping gold like hot potatoes seem a distant memory.

If you listen to some forecasters (like Standard Chartered, for example), then today's $US1500/oz will seem like peanuts in a few years.

So it might be worth cranking up an interest in explorers and emerging producers. The following news items are worth checking out:

Gold Road Resources (GOR) reported more high-grade intercepts from its Central Bore and Justinian prospects in Western Australia�s Yamarna belt. These included 4m at 40.1 grams/tonne and 5m at 104g/t.

Global Resources Corp (GRM) said it had received "exciting" gold assays from its Aktarma project in Turkey. Of the first 151 rock chip samples, 14 graded above 1g/t and 22 between 0.5g/t and 1g/t.

Gryphon Minerals (GRY) continues to drill its Banfora project in Burkina Faso with success, the latest results including 8m at 38.75g/t and 5m at 17.41g/t. The company says several new high-grade zones have been identified and will be targeted in coming months. Gryphon says the drill results so far confirm the potential for Banfora to host world class gold mineralisation.

Also in Burkina Faso, Mt Isa Metals (MET) said new assay results at its Boungou prospect have extended the length of soil anomalies to a 6km-long strike length. These anomalies remain open in all directions.

Ramelius Resources (RMS) produced just over 100,000oz of gold at its Wattle Dam mine near Kambalda in the year to June 30.

In Ontario province, more positive news from the Cameron project already standing at over 1 million ounces of gold. Coventry Resources (CVY) has done first pass drilling at the nearby Sullivan prospect with assays returning 3m at 4.32g/t; immediately along a strike at the Meston prospect, a hole hit 10m at 1.13g/t.

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