BuffetJr Posted June 28, 2007 Report Share Posted June 28, 2007 Stock I've beeh holding for a couple months now today just had a very good announcement. Prior to today, was struggling despite: - having a good cash position - having a top notch board, including Peter Harold, the Salay Malay MD, as its chairman - having a decent gold resource, that would be valuable in a rising gold price environment - excellent exploration portfolio in Australia Today though, they announced what seems a VERY attractive deal being acquisition of a project in LAOS where several Australian explorers are now operating, including of course that juggernaut Oxiana Resources. Looking at the projects location, its very close to the projects operated by PNA (Pan Australia) and RXL (Rox Resources). The difference is that AYRs project has had little exploration, despite the presence of artisinal miners at surface. Given AYRs market cap of only around 7-8 million, and its good ash position, any positive results at the LAOS project will send the shareprice rocketing in my opinion while having limited downside due to its Australian exploration/resource assets. Therefore I reckon its a very good speculative bet...thankfully i loaded up just prior to this announcement...i figured it had been too quiet and that something was coming...looks like i was right. Definitely worth a look. BuffetJr Link to comment Share on other sites More sharing options...
BuffetJr Posted July 16, 2007 Author Report Share Posted July 16, 2007 Another nice jump today in the shareprice...now up almost 100% since the LAOS project announcement. Despite this, still capped at only around 23 million (including dilution of options which are 'just' in the money). Not a very demanding market capitalisation at all! All time high of 28c occurred on listing date, so probably more realistic to look at the all time high as being 24c though even that was only a couple weeks after listing. I have done a little bit of snooping, and believe that artisinal mining at surface has routinely graded greater than 10g/t gold...this, in conjunction with the obvious copper mineralisation in the area, is a very good sign for exploration drilling. Its unthinkable that no drilling has ever occurred on this area...obviously the locals were happy enough just taking the gold at surface. I look forward to AYR releasing their exploration timetable for this project. BuffetJr Link to comment Share on other sites More sharing options...
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