Small Cap Gold Stocks. | ASXnewbie.com

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Weekly Ramblings of an Australian Stock Trader – incorporating ASXweekendtrader.com
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Small Cap Gold Stocks.

by strudy1

This exceptional educational Newsletter is contributed by Eric at TradingAustralianShares. Subscribe to receive his free Newsletter.

Small Cap Gold Stocks.

Let us have a look at some small cap gold stocks. I like them to be producers or close to production and if possible, debt free. Hard to find? They are there.

Gold is moving up nicely, however I believe that it is more profitable to invest in gold stocks, rather then gold itself. What does it all mean? Simply gold stocks are often rising faster than the gold price itself. You can probably profit from holding gold, but even more so from the right gold stocks. In the last newsletter, we discussed 2 gold stocks, MOY and MYG.

At that time, we could have bought MOY at 0.0265 after waiting for confirmation, today it stands at 0.033. MYG would have given us a buy signal at 0.125, this stock has actually remained flat and is now still at 0.11. Still worthwhile keeping in the watch list.

Today we are looking at Reed Resources (RDR). Reed Resources Ltd (RDR) is an emerging Western Australian gold producer focused on bringing its flagship Meekatharra Gold Project into production in the December quarter of 2012.

Reed Resources’ wholly owned Meekatharra Gold Project is located in the prolific Murchison region of Western Australia and currently has 3.59Moz of gold in JORC resources and existing infrastructure including the 3 Mtpa Bluebird processing plant.

RDR has ticked another box on its path to the first gold pour at its Meekatharra Project with the awarding of the Stage 1 Mining Contact to Minepower. Minepower will begin moving to the site from 1 October 2012 with mining of the Bluebird Open Pit. This Pit has a resource of 1.53 million tonnes at 1.9 grams per tonne gold. Mining will commence shortly thereafter.

Luke Tonkin, managing director, said the award of the mining contract is a significant milestone for Reed, as it clearly signals the commencement of production activity and associated benefits that flow from gold production.

“The construction and refurbishment works program at Meekatharra is nearing completion with all the major work packages being completed as scheduled and within estimated cost.

“Reed is successfully transitioning to a producer and will continue to execute Reed’s disciplined and staged exploitation of Meekatharra’s Mineral Resource and Reserve base targeting growth in gold production, longer life and lower costs.”

I think RDR could well be a good entry point at this stage. Trading at the moment at 0.25. there is no resistance going back to January 2012 where it topped at 0.38 Chart as at 2 October 2012 Looking at the chart, an entry point of 0.25 would assume setting a stop loss at 0.19, with a risk of 6 cents per share.

Happy Trading,
Eric
 Disclaimer: Any financial product information contained in this newsletter is general information
only and has been prepared without considering your objectives, financial situation or needs.
Before making any investment decision you need to consider whether the advice is appropriate for
you. We are not licensed financial advisors.