If gold keeps going on its current path, don't be surprised to see some of the spec gold sector stocks start to steal some of the iron ore sectors thunder.
With drilling results due from the Redcliffe Gold Project in Western Australia, where they have a strike length of 65km and are currently in the middle of a 30,000m drilling campaign, PRE is perfectly positioned to move significantly higher on positive news.
Its amazing how sentiment plays such an important part in the individual commoditity sectors, first we had uranium then nickel,oil,iron ore, and if the gold price is a leading indicator gold will certainly be the next hot sector.
With so much news upcoming and such positive recent exploration results, PRE is certainly one to be holding over the next couple of months.
Don't forget the company has already received the latest set of results from Redcliffe they are just plotting and processing them before they announce them to the market, leaving traders a perfect oppertunity to get aboard before the results.
Below is a company outline of recent exploration activities:
Redcliffe Gold Project
� A round of deeper RC drilling has been completed at the Nambi Pit, for which results are being processed and plotted.
� Drilling of several pre-collars was carried out in December in preparation for diamond core drilling at Nambi Pit scheduled for January 2008 designed to test
the lode at even greater depth.
� Additional RC holes were drilled at West lode and Redcliffe Pit Prospects.
� Detailed geological mapping has continued over the Nambi/Redcliffe prospect areas.
� Channel sampling of accessible pit wall exposures has been carried out at Nambi Pit, Nambi South Pit, and Mesa Pit.