PINL:GRPOF - Post by User
Post by
rockhounddogon Jun 17, 2011 2:20pm
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Post# 18730371
Lapaska Property-Undervalued !!
Lapaska Property-Undervalued !!Lapaska already has 154,000 ounces inferred to it right now, according to the company website !
Using in ground cash value of about $450/oz at break up value.
With 47 million shares out, thats equal to $1.88 a share, rough and dirty.
That would be undervalued a tad, yes ?InnovExplo also indicates that the gold mineralization intersected inthe West Zone (not included in the mineral resource estimates above)shows similarities to the gold mineralization observed generally infeldspar porphyry dykes ("G dykes") which represent a significantportion of the mineralization at the Sigma MinesThe Property is 100%-owned by Adventure GoldInc. and is favourably located between the past producing gold depositSigma II to the east (150,000 ounces at 2.5 g/t Au: Placer Dome, 1997)which was operated by open pit method and the Simkar gold deposit to thewest (NI 43-101 inferred resource of 105,000 oz at 5.3 g/t Au: Megastar– MDV: TSX-V, September 2008). The Property contains three significantgold-bearing zones: the Lapaska Central, West and Lourmet zones and isalso strategically located along the prolific Cadillac Larder Lake GoldBreak, a regionally extensive structure that is spatially related tonumerous gold mines.
| Lamaque Gold Project |
| Location: | Val-D'Or, Québec, Canada |
| Property size: | 21.5 sq. km |
| Mine type: | Underground |
| Reserves (2P): | 4.56 g/t Au | 1.14 M oz Au |
| Resources (M&I): | 4.81 g/t Au | 1.28 M oz Au |
| Resources (Inferred): | 4.95 g/t Au | 3.13 M oz Au |
| Estimate Mine Life: | 11+ Years |
| Average Gold Production LOM oz: | 100k |
| Average Cash Cost/oz LOM: | $450 - $500 |