Fire River Gold today released more positive assays from the re-assay program. In my opinion this results were timed to take a bit of heat off the stock for the immediate short term. When compared to previous released results that drove the price up to do a .50 PP, they pale in comparison and are probably designed to put a lid on the hype. I could be wrong but it has received a minor sell-ff today to its initial up-tick trend line that if breaks may bounce around between .50 and .60 for the next week or so.
There is a lot of excitement about FAU and think that any weakness at .60 and below should be bought up for major gains later this summer and fall. Fire River Gold is putting 28,000 meters into the ground working towards a resource estimate this fall, which being positive will set the wheels in motion for FAU to turn the key at Fort Nixon and start production. Which is essentially all they have to do with close to $100M worth of existing infrastructure in the project.
FAU is truly one of the last high grade gold projects in the world at over an oz a ton. I have full confidence that Fire River Gold has what it takes to fast track Fort Nixon and put it into production in short order to take advantage of the continued rising prices in gold. The long term trend for gold is still a long way from being exhausted and Fire River Gold is positioning themselves to take advantage of this superbull in gold.
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