Ironwood Gold Corp. - Trading Symbol: IROG
OK, you can probably guess that IROG is a Gold company but before we get into the details of exactly what IROG does as a company, let's point out a few of the technicals we are watching very carefully. They suggest Higher Prices may be on the way!
**** Note: If you are using Ameritrade.com as your online broker you will need to call in an order if you want to trade this one. This stock has only been trading a few weeks, and it seems the good folks at Ameritrade have been slow to enter it into their system. There is no extra charge to call them @ 800-669-3900 if you want to place a phone order.
1) After a meteoric 150% move higher in just a few days, the stock has spent the last several days consolidating... and possibly building momentum for another leg higher.
2) Upside volume has been very heavy, while downside volume very light. This suggests accumulation and very light profit-taking.
3) The absence of any meaningful pullback suggests that the current pause in the advance may be only a "time-based" correction (as opposed to a "price-based" one.)
The price chart certainly looks compelling to us... but what makes IROG special?
Ironwood Gold Corp (IROG) is a gold and mineral exploration and development company building a portfolio of prospective properties containing known depositsof strategic precious metals in politically stable, mining-friendly North American districts with recognized production histories.
Ironwood Gold Corp (IROG) -- believes its management team is second-to-none in geological, engineering and financing expertise.
Ironwood Gold Corp (IROG) -- is building a portfolio that provides the purest possible exposure to gold.
Ironwood Gold Corp (IROG) is extremely disciplined in its criteria for prospective mining projects.
Ironwood Gold Corp (IROG)- will only work with properties that are adjacent to, or with the confines of, a district with an established history of economic mineral production;
Ironwood Gold Corp (IROG)-will only work with projects that are located in a stable, mining-friendly political jurisdiction.
Ironwood Gold Corp (IROG)-- will only work with projects that have previously established a very high probability of developing, and advancing to pre-feasibility stage, a minimum 1-million gold-ounce equivalent resource. source: IROG Website
And on October 30th...
IROG announced it has signed an acquisition agreement with Ironwood Mining Corp., and related parties for 100% rights, title and interest in and certain mineral claims known as the Cobalt Canyon Gold Project in Nevada.
The agreement includes consideration of both share and cash payments in exchange for said title.
IROG plans to undertake an exploration program consisting of (but not limited to) additional claims, mapping and prospecting, geochemical sampling, analysis of ore specimens and selective induced potential surveys of geologically identified targets, identification of drill targets, and an initial program of 5,000 feet of core drilling in order to further the development of the project into a production phase. To read the complete article Click Here
The Preacher thinks this is very exciting news when you stop to realize that theCobalt Canyon gold mine is located in the chief mining district of Southeastern Nevada... which has a long and productive history dating back to around 1868.
IROG appears to be well positioned to take some potential big leaps... and with the price of gold continuing to make new highs, The Preacher thinks members should research this company and get it added to their radars right away.
Remember to always use the appropriate stop losses, trailing stop losses and anything else you can think of in order to protect your investment should you decide to trade in this stock!
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