Have had my eye on this NEAR-TERM GOLD PRODUCER for a while and have started to buy on this weakness brought on by the 2.5M warrants that expired on March 28 at $0.80. Recent volume/trading has me believing that the cheap stuff has been churned through and that the pps should be moving back up from it's oversold position that just touched it's 200DMA. In the past five months alone this one has been covered by: L. Roulston, P. Grandich, B. Moriarty and also written up in the Northern Miner (you can read the write-ups on ATW's website). Buying in the low-to-mid $0.80's is an excellent entry IMHO.
2 Primary Properties:
2 Primary Properties:
|BURNAKURA GOLD MINE
Located in the West Yilgarn goldfields of Western Australia, the Burnakura Gold Mine consists of 58.8 square km of mining leases and prospecting licenses, a fully permitted 160,000 tonne per annum (450 tpd) CIL gold plant, rolling stock, underground equipment, workshops, office space and a 90 man camp. The project covers 12km of prospective strike length along a major auriferous shear zone and mesothermal gold system. Historic production on the project focused on lower grade surface oxides, which had been historically mined from 15 open pits stretching along the entire 12 km of strike length.
Management believes significant potential exists to expand the low grade surface and high grade underground resources on the property. ATW's current focus is to streamline production facilities at Burnakura, with a goal of pouring the company’s first gold in mid 2008.
GULLEWA GOLD MINE
The Gullewa Gold Mine is located 450 km north of Perth, 160 km east of Geraldton and 300km south west of ATW’s 100% owned Burnakura Gold Mine in the Yilgarn goldfields of Western Australia.
The Gullewa Project includes a total of 756 km2 of mineral tenements that cover the prospective central and southern portions of the Gullewa Greenstone Belt and include the Gullewa Mining Centre, the Deflector Deposit, the Prince George Mine, the Michaelangelo and Monarch Prospects.
Mining infrastructure assets of the Gullewa Project include a turn-key gold operation with a Carbon-In-Leach plant capable of up to 300,000 tpa (tonne per annum) gold production, a licensed tailings disposal facility, a 50-person camp, offices, workshops, bore fields and haulage roads.