Channel Resources Ltd V.CHU

~$5 / oz discovery cost

[Aton]

1,1 million ounces with a discovery cost of $5 / oz so far and a m-cap of $11 million, do you think this is normal? It´s looks like a bargin to me anyway.

Indicated Mineral Resources:

14.1 Million Tonnes at 0.94 g/t Au:

425,000 Gold Ounces

Inferred Mineral Resources:

29.1 Million Tonnes at 0.78 g/t Au:

729,000 Gold Ounces

https://www.channelresources.ca/i/pdf/chu-presentation.pdf

[jpbb]

I agree that it's a bargain although I should point out that the discovery cost has little to do with what we should be valued at. It is simply an indication of money that was spent in the past and the fact that we can expect continued efficiency in future drilling efforts.

[Aton]

Yes, and Mankanga-5 is still open along-strike and depth so here it´s sure to be more resources in the future. The cost for finding this first million ounces sure must draw interest from other big players like Semafo who only got little more that 4 million ounces in reservs and a m-cap of $1 billion, if they would buy Channel they could have a new low cost finding area to add

[teevee]

43-101 resources now sell for an average of $20/ounce. A take over wouldn't likely exceed $.20/share. A financing will have to come at no more than $.10/share to factor in dilution and  a little upside for angel investors. 

[Curvature]

This post has been removed in accordance with Community Policy