Source: Clive Maund 05/08/2024
Technical Analyst Clive Maund shares why he believes Sanu Gold Corp. is an Immediate Strong Buy.
Even without the benefit of a sector bull market, Sanu Gold Corp. (OTC: SNGCF) is looking like a most attractive gold stock investment here, but as it happens, a major gold and gold stock bull market is just getting started that promises to be of unprecedented magnitude and will be of enormous benefit to a well-positioned company like Sanu Gold.
A big reason that Sanu Gold is looking so attractive at this point is that it is not some junior that is looking for gold in a forlorn windswept northern moose pasture — it is looking for gold in the number one gold mining district in the world where it is surrounded by significant discoveries, in addition to which it has made some significant discoveries of its own.
We will now proceed to overview the company, looking at a selection of slides from its latest investor deck, which is new out this month, and then continue on to an analysis of its latest stock charts to see what they say about its prospects, and as we will discover, they are very bright indeed.
First of all, where does Sanu Gold operate, and at what stage of development are its properties?
The company has three significant properties in the prolific Siguiri basin in northeastern Guinea, which is in West Africa, and the exact position of Guinea in Africa and within Guinea, the position of the Siguiri basin is shown on the first slide.
The second slide shows the position of the company's three properties within the Seguiri basin, and also the numerous significant discoveries in the area, with some big mining companies such as AngloGold and Endeavour active in the district and also on this slide, there is information about high-grade discoveries at Sanu's Bantabaye and Daina properties from the first drill program illustrating that work at these properties is well beyond the initial exploration phase.
This slide shows the high-grade discovery potential of the flagship Bantabaye project.
The following slide shows details of the company's already achieved high-grade discoveries at the Bantabaye property.
The next interesting slide shows the location and size of other key landholdings in the Seguiri basin, who owns what, and how they relate to Sanu's properties — as we can see — AngloGold Ashanti Ltd. (NYSE: AU) has a spread of big holdings very near Sanu's properties.
Now, we come to a very important slide for investors, which demonstrates that there is a lot of belief in and confidence in this company.
Of the 138.5 million shares in issue, insiders, founders, and close associates ...