RE:From what I saw and heard at PDAC... Thanks,Jim.
Re: " La Plata is emerging as the money-maker. If the most recent drill results can confirm the lateral expansion of the monster hole hit last year LAP 22-04 then it becomes highly likely that Newmont will up the investment in MMG. " Jim
Jim,the company have already stated that all four drill holes were entirely mineralised:
- All four drill holes intersected porphyry style mineralization over their entire lengths with varying levels of visible copper sulphides and vein density.
- Drilling in 2023 has extended mineralization to more than 1.5 kilometers vertically starting at surface and is anticipated to allow for inclusion of both gold and platinum group elements in future mineral resource estimates along with copper and silver.
If Newmont commits and strikes their warrants that should strengthen the SP as Newmont pays 55 cents CAD per warrant to reach their 15.5% of MMG:
Each full warrant shall entitle Newcrest to purchase one common share at an exercise price of $0.55, providing $6.5 million in additional funding, if exercised.
Following closing of the investment, Newcrest will hold 9.5% of the issued and outstanding common shares of Metallic Minerals on a non-diluted basis and, including the warrants, 15.5% of the issued and outstanding common shares on a partially diluted basis.
No going to the banks to drill LP and that allows MMG's cash position to drill at Keno to facilitate / create another agreement (or hopefully two).
Johnson has repeatedly stated they would consider splitting and spinning the assets out between Keno and Colorado if that helps the company.
I see MMG has risen up along with all miners in the last week but it is down 33% from recent highs and is at the same price as a year ago.
MMG's SP doubled on the news of 816m .41% Cu Eq last year at this time.
Let's see what the market reaction is when 1350m of continuous mineralisation on hole LP 23-06 is announced.
Then there's the LP revised resource count.
Then there's the alleged agreement(s) alluded to on the alluvials.
Then there's Newmont striking and becoming an even more integral strategic partner,thereby funding the 2024 DP @ LP.
Hopefully,news is coming on an agreement at Keno.
Personally,I want to own shares in MMG LP and MMG Keno so let's hope the company is considering that,as well.
Thanks again,Jim.