PURE SPECULATION: Robin Bromby From: The Australian June 14, 2010
(continued)
Aragon prospect.
ON about the same market cap is gold explorer Aragon Resources (AAG), which has begun mining studies at its Central Murchison project in Western Australia.
Gold mining ended on AAG's areas in 2003, when gold prices were less than half what they are today.
The company has three tenement groupings in an area where 12 million ounces of gold have been mined, and AAG's resource now stands at 1.5 million ounces.
Its Murchison Bell prospect is near the famous Big Bell mine, which operated from 1913.
Southern Cross Equities has initiated coverage of AAG, putting a "speculative buy at 21c" tag on the junior because of what it says is Aragon's experienced management and highly prospective ground. The stock closed at 20.5c on Friday.
Aragon has other irons in the fire: phosphate in the Georgina Basin, gold in the Yandal Belt of Western Australia, nickel near Kambalda and 14 per cent of the aforementioned Vital Metals and its Burkina Faso gold play.
http://www.theaustralian.com.au/business/
AAG Price at posting:
20.5¢ Sentiment: None Disclosure: Not Held
