If you were wondering about the volume today(looks like a nice big 3.2m parcel taken out in one hit at 2.13pm) & price rise, it's probably attributable to NWR being mentioned in a recent interview/article by The Gold Report, featuring Richard Karn, managing editor of The Emerging Trends Report. Great to see some international exposure for this sleeper...lightly traded stock, could see further rise over the next couple of days as investors take notice...still barely above cash backing at this price.
Here's part of the article:
On the gold front, Australia is rife with gold mines, and the larger projects are pretty well covered by North American analysts. We believe the reflation theme is likely to transition into a significant inflation problem simply because the Fed appears to be proud of being both behind the curve and for having adopted a reactionary policy response to the very bubbles their previous policies encouraged. This means the huge-volume open pit operations are likely to face considerable cost pressures going forward. In fact, these cost pressures may already be starting to show up in both equipment and labor shortages; energy prices have been creeping higher for some time too, and the combination of the three will crimp margins going forward. So we like some of the smaller, less-covered Australian thin-seam miners in this regard because we think these very high grade operations will have a better chance of managing costs going forward. Names like Morning Star Gold (ASX:MCO), Silverlake Resources (ASX:SLR), and Northwest Resources (ASX:NWR). We are particularly interested in Northwest Resources because they will have a significant antimony byproduct, and antimony is a specialty metal under threat because 80% of it comes from China, and they have both lowered export quotas and are closing mines.
