Cash Minerals - CHX.V$1.12 +.01 / 0.9%80 million shares outstanding$88.9 million market cap
There has never been a better time to buy Cash Minerals. It is currently trading at 50% of its highs from last year and the projects have just gotten better! They are just starting up their programs in the Wernacke region and there has been a lot of excitement generated from their Lumina and Igor properties which are both on target for unconformity and IOCG (Olympic Dam Style) style mineralization.Lumina update...
- 2 drill rigs ready to drill in early June
- 2006 program 19 0f 22 holes hit mineralization close to surface (less than 90m)
- 90 additional anomalies were identified following an airborne radiometric survey some of which to be followed up this year
$15 million being spent this year in the Wernacke's!
- Construction of camps to begin in mid June with 23 drill rigs set to drill shortly there after
- 74.44m grading 0.07% U3O8 and 1.88% copper!
- Extensive ground geophysical work complete during 2006
- An appreciable, positive gravity anomaly projects south and to depth form known uranium and copper mineralization
- Anomaly and known mineralization to be tested this year
- drilling continues with 1900m complete of a 2400m program
There has never been a better time to buy CHX. They just merged with Signet and are now positioned as the number one explorer in the Wernacke region.They were very successful in last years exploration campaign and are now poised to follow up on some of that success and find the next super uranium deposit or and Olympic Dam style IOCG deposit. Its up there somewhere... The question is...
Is Cash onto it?
Time will tell for sure but this years follow up programs will give a good indication of what they have at least on Lumina and Igor. This could be Cash's make or break summer.