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clock Created with Sketch. 28/11/17
07:09
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Originally posted by rivermore
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Look behind the overnight market for what is unfolding. KLA up over 6% again last night in Canada yet its main spec investment in Australia (Novo) continues to tank. Why is KLA charging higher? There are over $5m reasons per WEEK why. Thats what KLA make as PROFIT each week from Vic Gold via the Fosterville mine right now. Victorian Gold is the greatest HIGH GRADE HIGH RESOURCE hidden story in the mining world at the moment, (it seems we are the only ones that haven't woken up to it). The latest KLA RELEASED drill reports have gold at 9115 g/t over just short of ONE metre (nearly 1%) and over 991 g/t over 8.2m (Estimated true width). Fosterille has gone from a OK operation to being described by Sprott as "one of the great gold mines of the world". Don't believe me, google it. Eric Sprott has 10 (at last count) drill rigs going flat out trying to find how big the gold vault is that he has drilled into actually is. (See accompanying report). As he goes deeper, the grade and resource widths keep increasing, the latest step out saw the high grade section more than double again. Hopefully there will be a further update before KLA list on the ASX on Thursday. He had reserves of over 530,000 ounces at nearly 20 g/t BEFORE the latest drill results. The great Victorian Gold rush part 2 is officially underway. Where this will lead is anyones guess but the great thing is it is generating immense wealth and jobs right now. Fosterville is ramping up production to at least 400,000 OUNCES PER YEAR while at the same time, having its cost of production collapse. Lowest cost, highest grade, huge resources, it has never been better anywhere in the world that I'm aware of.
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Exciting stuff River and thanks for the research. A few questions run through my head at the moment. What price will KLA list at and how many shares outstanding? Have we already bought into KLA via NML as I guess they are not listing here to play tiddly winks. I've got some other stock that's flat lined and I'm thinking of going all in on NML and KLA. Decisions...decisions. GLTAH.
