Major Potential pt 1 There are so many upsides and massive potential to these mines.
I’m really surprised the market cap isn’t US$25 million, just for starters. (6 x present). Compared to many dozens of other companies that I know about , PHD has so much more to offer and it’s at a small fraction of the other’s market caps.
Here’s another major facet of this gem of a company, but yet a small part of the whole..
The adjoining Mexican, Mcarthy, and Consuelo Mines. Yes, two Hispanic run mines with a Mick mine in between.
The Mexican and McCarthy were
only developed down to 100 feet (30 metres) and so have significant depth potential to the veins. The mines were worked for many years, essentially by hand and by mule work, using a mule trail for transport.
Historical reports said that the two mines averaged five ounces gold per ton!. If you
click here and scroll to the bottom it shows the 1931 longitudinal survey by Providence Consolidated. On the top left it shows the mines at the bottom of the gully, and the shaded area where they mined their high grade. It certainly looks like the depth of that ancient wash allowed them to find the gold at surface. See how the shafts stop at only 100 ft? Pretty exciting and enticing prospect to explore below the mines.
Consolidated certainly thought so. In 1931 they wanted to extend all of those drifts north from the Providence to explore and haul out the gold ore, and even named the areas the Mexican Ore Shoot and the Mcarthy Ore shoot.
Much easier than exploring by tunneling, (imagine that!) we have modern day drills. PHD has built a road near to those old mines that was stopped at a wash to the south (right on the map) of the main gulley. Its close enough to run splayed drill holes into a good sized area of extremely high potential under the mines. This will be in addition to doing underground drilling of these areas from the 600 ft level tunnels,--- sideways, upwards and downwards.
click here for a map to see it all in perspective.
And there is so much more potential for wouldbe investors/owners to grasp.