Currie Rose Resources (CUI, TSX-V) came out with news yesterday and the stock plunged 31% to close at 23.5 cents. Combined volume on the CDNX and ALPHA markets was a whopping 23 million shares, so there were obviously some eager buyers to soak up the selling. The stock has stabilized this morning and as of 12:30 pm Eastern time it’s down 2.5 cents at 21 cents, just very slightly below its rising 100-day moving average (SMA).
Speculators hoping for a “glory hole” from the company’s Sisu River Gold Property in northwest Tanzania were disappointed and fled the scene yesterday. However, the results were still quite encouraging for a first-pass drill program at this property and a major follow-up campaign will take place beginning in the spring.
Sisu River forms just part of Currie Rose’s 260-square kilometre Mabale Hills Project which holds considerable upside exploration potential (a significant discovery less than 10 kilometres southwest of Sisu River is being followed up on this spring as well). In addition, Currie Rose is making preparations for a major drill program this spring at its Sekenke Gold Project which is approximately 200 kilometres southeast of Mabale Hills. Sekenke is an even larger land package and what excites us is that it surrounds and runs in between two former producing high-grade mines including the Sekenke Mine, one of Tanzania’s original Gold mines. Currie Rose has already identified a very promising structure (12 km by 800 metres) within a shear zone on the margins of a large granite intrusion that hosts numerous quartz reefs of the same type and even larger than those that developed at the nearby historic mines.
Currie Rose has another Gold property as well near Sudbury, Ontario (the “Scadding Property”), where an 8,000 metre drill program is just starting. Trueclaim Exploration (TRM, TSX-V) is the operator and has an option to earn a 51% interest in Scadding.
There is strong technical support for the stock in the low 20’s which we view as a potentially extremely favorable entry point – the long-term bullish uptrend with Currie Rose remains intact on the charts.
This morning we had a very interesting discussion with Currie Rose President and CEO Harold Smith (simply click on the link below to listen to the 12-minute interview).
Note: The writer and interviewer holds a position in CUI.
Are you still very positive about the CUI, it feels like you are hesitant to them today? I have uploaded over 1milöjon shares and would like to read some more positive comments from you if you are still positive.
Sincerely, M
Comment by Rose — January 11, 2011 @ 9:46 am
Nice interview, thanks!
Comment by Pat — January 11, 2011 @ 9:56 am
If you listened to the interview, or read anything written on CUI this morning, I’m puzzled that you would say I am “hesitant” with CUI. I believe fervently in this situation. We all know it’s not going to a dollar next week but I fully expect this is going to be a breakthrough year for Currie Rose – I’m really excited in particular about Sekenke which I have been stating repeatedly for several months. That’s a first-rate project with huge potential given the proximity of the old Sekenke high grade mine. Plus of course Mabale Hills and other land packages, existing and potential.
Comment by Jon - BMR — January 11, 2011 @ 9:57 am
You’re welcome. Harold is very upbeat. I’m also thinking, and this is pure speculation, but I’m also thinking after reading the NR yesterday (you heard me ask the question to Harold who said “no comment” basically) that Currie Rose may be looking at acquiring the former Sekenke Mine. This would be a very interesting development if it came about.
Comment by Jon - BMR — January 11, 2011 @ 10:05 am
Very nice interview, thank you for the insights!
Everyone was waiting on 1 hole like SFF had a few weeks ago. There was nothing like that. But results were not bad for first drilling! A litle patience is required I guess.
Now the SP is back at my original buy in. Sad
How real is it this type of sp-movement will happen with GBB’s next NR?!
SP has gone up, but no news. Everyone here knows it is a realy good low-grade mine in the making. but all the investors on the outside will only see the low grades in the assys. And will most likely(like 3 times before,) sell.
Comment by Geert from Holland — January 11, 2011 @ 10:23 am
Wondering if any further info on CQX PETER
Comment by peter — January 11, 2011 @ 6:44 pm
We’re learning lots here on the Cadillac Trend, Peter. Right now we’re in information-gathering mode and we’ll be reporting more as soon as possible. Please be patient. We strive to be 100% accurate – we don’t just put out material for the sake of putting our material. We are working on some exciting stuff.
Comment by Jon - BMR — January 11, 2011 @ 7:00 pm
Hi Jon,
first I want to thank you guys for all the good effort.
What are your thoughts about Integra Gold Corp. (former Kalahari Resources)? What are there chances to succeed?
Comment by Peter from Sweden — January 12, 2011 @ 12:09 am
Thanks, Peter. ICG definitely has good potential. Just completed the name change and share roll back prior to Christmas for people who may not be aware. One of the drawbacks at the moment, however, is liquidity. We’ll see if that improves. Volume and liquidity are always important considerations for me when I look at any situation. Looks like management for ICG are proceeding with focus and a game plan and that’s a good sign.
Comment by Jon - BMR — January 12, 2011 @ 4:58 am
I just came across your website for the first time this morning…You have very informative information here and I appreciate all your efforts…I will start following your site closely…After hearing your interviews and reading your commentary I’m fairly excited about the prospects for CUI…sounds like a good situation and the price point is great right now…just looking at the charts I’m sure it will rebound at least some what fairly quickly, IMO…thanks again and I’ll keep watching…
Comment by Rob — January 12, 2011 @ 5:18 am
Wonderful interview ? I can’t think of a single question posed that may have a had a negative answer …way to much pom pom waving you answered most of your own questions before asking …..please balanced material next time not just a rah rah session. A good interviewer asks questions and lets the person speak I heard you talking for a majority of the interview and it was hard to tell who the company spokesman was.
I think we expect solid technical recommendations and to benifit from your research but when BMR starts to cross the line on producing flag waving hype your objectivity is brought into question and value reduced.
jmo
Comment by Mike — January 12, 2011 @ 7:43 am
Thanks, Mike, for your feedback…..we welcome and value all opinions.
Comment by Jon - BMR — January 12, 2011 @ 8:20 am