Multibagger potential here. Argo Exploration Limited (Argo) (ASX Code AXT) is a junior exploration company searching for iron oxide copper-gold, gold, uranium and base metal deposits in Prospective locations of the Gawler Craton, South Australia. Argo is a focused explorer searching for world-class ore deposits within two key project areas, namely Intercept Hill and Toondulya.
82,800,000 shares on issue with an undiluted cap of $4,140,000.
30,000,000 options exercisable at 20 cents in Dec 2010
Cash at end of June $1,813,430
Pantheon Resources Plc investment valued at $2,946,523.
Pantheon-Vision Joint Venture well VWB#1 to be spudded this quarter.
JV with Xstrata Copper who will sole fund up to $16m exploration expenditure at Argos Intercept Hill Project.
The Board continues to examine quality commercial opportunities to expand its exploration/development portfolio.
www.argoexploration.com.au
It's worth researching this one.
Cheers
Cobby
AXT Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
