In continuing with the focus on smaller gold companies that offer strong earnings potential, we revisit Aguia Resources (AGR) again this week. The key news flow has been the first gold pour from the Santa Barbara gold project in Colombia.

The Company is still constrained by what it can release to the market, because it hasn’t yet released JORC resources, but that doesn’t stop you from joining the dots and looking over the horizon. We know the gold bearing veins are very high grade. This has been reported to the ASX. We know that there is a treatment plant on site and we now know that it works. Hence the gold pour.

You can look at this Company as a potentially strong earnings stock but that is only half the story. The real leverage lies in the exploration upside from the drilling program that will start in February/March. The proving of resources and reserves will appease those who like to tick boxes, but the more astute investors can see beyond compliance and see the speculative appeal.