This is topic Journey Resources, a 6 cent stock, will be a gold producer in 2010 in forum Asia, China and Canadian Stocks at's Bulletin Board.

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Posted by STAR GAZER on :
Journey Resources, Canadian V.JNY 0.06 or pink sheet JNYRF 0.057, will be a large gold producer in 2010 and so its stock price is certain to end up a lot higher than its' present six cent range. They are in the process of receiving blasting permits on their Charay property and in 2010 will be producing +24,000 oz of gold at a cost of US $100/ton, a very low cost that includes shipping the ore to the two nearby mills. With gold at $1112/oz that is a net profit of over $24,000,0000. This will pay for the drilling and expansion of the property, plus the further work up of their other properties.
Journey Resources' Charay property is a high grade vein-hosted gold-silver project with a technical report that states that the operation is ready for immediate production. With blasting permits received, the company will be shifting key personal to the Charay property to take the first 35,000 tonnes of material that is essentially at surface. With an average grade of 18.75g/t. Mining Market Watch believes an initial 24,000+ oz of gold will be mined at a cost of ~US$100/ton. The property is open at strike and at depth; the deposit has only been drilled to 50m with every hole intersecting substantial mineralization and the highest grades being the deepest holes.
The on going cash flow will enable advancement of all their projects without further dilution to the share structure and most importantly prove up their flagship Musgrove Creek Idaho gold project. The previous resource calculation showed 313,822oz of gold, worth around $300,000,000 after costs at todays gold price, but that was calculated when the price of gold was lower. With the higher prevailing gold prices, the cut off point for grams/gold per ton can be lowered and this by itself will increase the known gold resource. The company beleives that the 2009 drilling, which is being evaluated, will more than double the previous resource results and that further drilling will show that the property has over a million ounces of minable gold, or around a Billion dollars worth of gold.
The Company is currently exploring four advanced exploration-stage projects; the Vianey Mine Silver Project, the Musgrove Gold Project, the Silver Mountain Project and the Charay Gold Project. The Vianey Mine Project consists of concessions totaling 5,022 hectares in Guerrero State west of Mexico City, Mexico. The Musgrove Project is a prospect for a disseminated gold bulk-tonnage surface project similar to the Beartrack Mine, a nearby former gold producer. In addition, the Company recently purchased a 100% right, title and interest in and to certain mining claims comprising the Silver Mountain Property in Lima, Peru. The Silver Mountain Property is an advanced stage exploration property covering approximately 1,684 hectares, located approximately 75 kilometers east of Lima City and 50 kilometers south of Peru Copper's Toromocho property and Pan American Silver's Morococha Mine. The Company also recently announced the acquisition of the Charay high-grade gold project in Sinaloa, Mexico.

Journey Resources is getting ready to take off. There is an excellent possibility that by this time next year the stock will be up 1,000% or quite likely well over 1,000%. In 2010 they will be a major gold producer with silver credits and there will be multiple press releases on both their major properties. Plus with their cash flow they will be able to advance all four of their properties. Now is the time to buy it, before its price takes off.
It should be noted that they issued 8 million shares earlier this year to pay off debt that was due. They are now in the process of selling 20 million units of stock + warrants to raise $1,000,000. They have 42 million shares so this will be a big dilution. One of the reasons that the stock is so low priced. But next year they will be a gold/silver producer and they state that they feel that because of that, they will no longer have to issue more shares for operating money. It looks like they may make +$20,000,000 profit next year and that seems to have gotten the company some interest. The volume has been in the millions and the price has climbed from the 4 cent range to now the 6 cent range. The graph looks great. Of course, they still have to prove to people that they can produce gold. I think that they will, but it's still an If? And if they do, the price will take off and any one in at these prices will make a killing. It's not often that you find a stock with this excellent potential. $300 will buy 5,000 at .06, and at this time you can probably get it for less than that. And if the company becomes a large gold producer, 5,000 shares will be worth real money. I bought $2,500 worth of stock just so you know that I put my money where my mouth is. A Christmas present for myself that I think will look really nice by Christmas next year and for years to come.
Posted by STAR GAZER on :
On the last day of the trading year, JNY's volume went to over two and a quarter million shares and finished at a new six month high. In fact the bid/ask reached .060/.065 for the first time for that time period. Things are looking up literally. JNY is going to be one of the story book stocks of 2010 and beyond. With that volume, it could be that somebody in the know is buying ahead of an announcement, or maybe it's just that Mr and Mrs Q public are starting to discover the stock. But either way, there are going to be a lot of major press releases any time now, such as the blasting permit so that they can start mining their property, and announcement of drilling of their other properties, and that is going to start propelling the stock upward. In fact it will blast it to the moon. This is the stock to be in. If you have any stocks that you have been thinking of using as fertilizer for your garden, instead of that, turn them into gold by selling them and using the proceeds to buy more shares of JNY.

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