Yes Vic was right about Fraser Range getting more attention and in my opinion its purely due to the attention this region is getting over other mining frontiers, as soon as miners mention FR the SP automatically jumps, it has happened with Win, Boa, Mat, RtR just to name a few all of these companies had seen their share price rise by a few multiples only to drop back down again. People are in the anticipation of the next big nickel discovery as we are all awaiting the success of Sirius resources to be emulated again and rightfully so. A big discovery now will bring back the mining sector from the dead. For the reasons listed above I feel that is why FR is being given priority in terms of promotions.
People are just not interested in the Gawler Craton region at the moment due to the high iron content involved, since iron ore prices are somewhat recovering and the iron ore boom is dead. If you compare Rex minerals discovery and the share price rise its clear to see where peoples interest lay now back when Rex had discovered its 300 million tonne deposit the share price had gone from 10 cents to 2.25 dollars however 6 years later the share price is once again circulating between 10-12 cents. Unless Apollo aggressively promotes its land holdings and says that they are on the cusp of a new Olympic dam we can expect the volumes to remain low. Another example I would just like to give is the Sandfire resources story back in early 2009 people had lost complete interest and faith in the stock and this resulted in low volume turnovers on a daily basis. Till one day the share price unexpectedly started to rise with volumes increasing. If you have a look at one of the articles they do mention that the actual discovery was made on the 30th of April 2009 and was reported to the market after confirmation from the assays on 15 May 2009. In between the two weeks the share price kept on rising till it hit 25 cents before the announcement of the discovery was made public. What happened after this we all know and envy the position. Keep your fingers crossed stiggy hopefully our instincts do not let us down!!
AON Price at posting:
9.1¢ Sentiment: Hold Disclosure: Held
