CASE STUDYFor everyone who is familiar with Integra gold (ICG) , you should know by now that Eldorado gold offered $1.21 per share for at least $577 million (476 million shares outstanding). ICG came out with a EPA for a well known mine in Val D'or and was very successful to get very attractive numbers, 3.5 million ounces at just a shy of 8 g/t for almost a 1 million oz mine
"Integra's principal asset is the Lamaque project near Val d'Or, Que. Lamaque hosts a National Instrument 43-101 indicated resource of 5.1 million tonnes at a grade of 9.13 grams per tonne gold and an inferred resource of 3.5 million tonnes at a grade of 7.94 g/t gold (5.0 g/t gold cut-off) (1). A preliminary economic assessment was completed in February, 2017, that envisions a high-grade underground operation producing 123,000 ounces of gold per year at all-in sustaining costs of $634 (U.S.) per ounce over 10 years (2). Integra is currently in the process of advancing underground ramp development to facilitate underground exploration and completion of a bulk sample."
Great for shareholders and the longs who carried this stock since it was in the 25 cent range, and thanks to the great management team who was very diligent to bring great numbers to shareholders.
Thousands of kms away, here goes Glen Eagle resources which is already in production, acquired the biggest 20th century operational mine in Honduras, with zero money and a plant which is already in production. Technical report is due at the beginning of June and the company is making a great progress with the soon to be upgraded plant. YES ZERO DEBT AND THE BIGGEST UNDERGROUND MINE FROM LAST CENTURY, you have seen what happened to ICG with 476 million shares outstanding, GER has less than 80 million and the news came out fresh last week regarding the new concession.
I will leave the rest to your brain to have a twist!
Read more at https://www.stockhouse.com/companies/bullboard?symbol=v.ger&postid=26271642#zvsSOjCXbcx5MS3L.99