"The next three months are probably the most important in the short history of Papua New Guinea-focused gold explorer Triple Plate Junction (LON:TPJ)."
"However, the big bang will come when we receive drill updates from the joint ventures with industry giants Newmont (NYSE:NEM) and Newcrest (ASX:NCM), as well as an update on the plans of another big name partner, Barrick Gold (TSE:ABX)."
"Manus Island is another huge opportunity for TPJ and partner Newcrest, which will earn an 80 per cent interest in the project by investing US$6 million in exploration.
At the current rate of spend it will have achieved this financial milestone by the end of the first quarter of next year.
In August, Newcrest completed a helicopter-borne geophysical survey over the entire 700 square km of the project at Manus Island and continues a programme of mapping and sampling over the entire property.
A 3,000 metre drilling campaign is expected to begin next month with the first results emerging around Christmas and beyond, McGee reveals."
PRE Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held