Kalamazoo Resources: A Lot of Bang For The Buck
Kalamazoo Resources (KZR.AX) is currently a ~6% position for me and I have owned shares for quite some time. It has been boring for a while due to drill permit delays at their Bendigo projects where the company is looking for a Fosterville look alike. Today the company has projects in three different areas. They got claims in the Egina area of Pilbara where they are looking for Hemi style gold. They got the Ashburton project in southern Pilbara which they bought from Norther Star. It has a 1.65 Moz gold resource. This is on top of the claims in the Bendigo zone, Victoria.
Anyway, the coming months might get interesting given that the plans are to:
- Drill at Castlemaine (Fosterville hunt)
- Drill at The Sisters project (Hemi hunt)
- Drill and hopefully expand the 1.65 Moz at their Asburton project
- Awaiting results of who gets the blocks around the Fosterville mine (Kalamazoo has applied for two large claims)
With a basic Enterprice Value of US$65 this remains one of my favorites from a risk/reward stand point.
Novo Resources has a substantial position in the company.
Note: This is not investing advice. Always do your own due diligence. I own shares of Kalamazoo Resources and am thus biased.
