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« Crosshair Exploration and Mining Corporation Quadrupled since July 2010 | Main | Neal Dingmann: The Play’s the Thing »
Tuesday
Nov232010

Mawson Resources Limited: Up 100% in a week

MAW Chart 24 Nov 2010.JPG


As various uranium stocks begin to 'pop' Mawson Resources Limited (MAW) joined in the move as its stock price increased 100% in a week. Taking a quick look at the chart we can see that a sudden increase in the volume accompanied the stock price hitting the roof, doubling in a week. The technical indicators suggest that this stock is extremely overbought so go gently if and when you do decide to acquire it. For disclosure purposes we do not own it, however, on a day like this we wish we did own it.

The Company is exploring at Rompas in Finland, a new discovery with BONANZA GOLD where samples up to 12,800 g/t (373 oz/ton) gold and 43.6% uranium have been identified. In addition, the Company is exploring for gold and copper in the highly prospective Cordillera of Peru, with a focus on a new high grade gold discovery at Alto Quemado.

Mawson is a leading Scandinavian uranium exploration company, with advanced projects in Sweden and Finland. As the European Union moves to reduce its reliance on carbon-based energy sources and continues to debate energy security, Mawson is well positioned to provide Europe with the option to fuel its future. Areva NC of France holds 11% of the Company and provides Mawson with an active technical partner.

With a strong cash position and a multi-jurisdiction European and South American portfolio, Mawson is ideally positioned to enhance its status as a leader in the uranium and gold industries.


In its latest news release the company announced the first channel sample results from the Company's 100% owned Rompas gold-uranium project in northern Finland.

Highlights from 39 surface channel samples include 0.3m @ 1,866 g/t Au and 8.0 % U, and 0.26m @ 1,510 g/t Au and 3.95 % U (Table 1, Figures 1 and 2). The diamond saw-cut channel samples are considered the first representative samples collected at Rompas.

Included in this batch were 10 mineralized grab samples that averaged 672 g/t Au and 2.06 % U and ranged from 0.2 g/t to 3,230 g/t Au and 14.6 ppm to >15% U. Grab samples are selective by nature and are unlikely to represent average grades on the property.

All samples reported come from Rompas South. The channels were taken over a strike distance of 75 metres and grab samples over an area of 65m by 125m (Figure 1). To date, hundreds of gold and uranium showings have been discovered at Rompas over a surface area exceeding 6.5km in strike and 200m average width. A total of 984 rock chip samples (including 111 highly radioactive samples) remain to be reported by the laboratory from the field program conducted this summer at Rompas.

These are excellent results so far and as a two pronged attack on both gold and uranium this stock is shaping up very well indeed.

Its also a favourite of Micky Fulp who discussed it on BNN earlier today, he also give Strathmore Minerals (STM) a mention too, which was up 6.6% today.




Mawson Resources Limited can be found on the Toronto Stock Exchange under the symbol of MAW, Frankfurt as MRY, and on pink sheets as MESNF


The company has a market capitalization of $97.07 million, shares outstanding: 49,747,253, Cash position is around C$14 million.



Over in the options trading pit the team have updated the progress chart to include closed trades, now 51 winners and out of 53 trades.

sk chart 19 Nov 2010.JPG



The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.

So, the question is: Are you going to make the decision to join us today?


Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.



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BNN Uranium spot price 24 Nov 2010.JPG

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Reader Comments (4)

Great, I own it.
Do you have any informaton on Pitchblack Resources, formerly Cash Minerals. I am finding research hard on this company as they do not appear to have a website in the new name and the old one is not active > ?

November 24, 2010 | Unregistered Commenteruranium bug

Cash Minerals was a dog. I would avoid it.

November 25, 2010 | Unregistered Commenterbee1000

So Santoy “warms the heart,” and is “on the ball?”

Here is a comment posted under the Santoy story. I cannot confirm it and I do not have any interest in the company, but maybe you can look into yourself. Robert

Did you know this corrupt company changed it’s name to “Pitchblack Resources” for no other reason than to make it’s 95% market cap evaporation disappear on all stock charts? And it no longer has a website or even a telephone number? ( Another great Dines’ recommendation!)

I do applaud you for having the guts to keep this snippet up here, though.

Comment by JoeBronx — November 24, 2010 @ 2:00 pm

November 25, 2010 | Unregistered CommenterRobert

JoeBronx,

I think that its now time to draw a line in the sand on this one, so we would ask you kindly not to metion other writers in future on this site. Have a 'pop' at us all you want but please leave the others out of it.

Many thanks,

Bob

November 25, 2010 | Unregistered CommenterUranium Stocks

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