@$stockwatch, do you this the below NR by Mason Graphite (LLG) was a good result?
Investors were snapping up shares of
Mason Graphite Inc. (
TSX: V.LLG,
Stock Forum) again Friday after the company announced significant resource growth in an updated mineral resource estimate for its 100%-owned Lac Gueret graphite project in northwestern Quebec.
In early afternoon trading, the stock was up 6.5% to 49 cents, leaving a market cap of $33 million, based on 66.7 million shares outstanding. The 52-week range is 95 cents and 25.5 cents.
Friday’s action means the stock has jumped 25% in two trading sessions.
Highlights from the updated mineral resource estimate included:
Measured and indicated mineral resources increased 658% from 7.6 million tonnes to 50 million tonnes.
Inferred mineral resources increased from 2.8 million tonnes to 11.9 million tonnes.
Overall measured and indicated grade of 15.6% Graphitic Carbon (Cg); the main parameters of the PEA for the Lac Gueret project are still valid; 22 years of production at 27.4% with a low stripping ratio at 0.76:1 and low operating costs at $390 per tonne; and…
Enlarged mineral resource could led to optimized pit design and improved economics.
Commenting on the results, LLG’s President and CEO Benoit Gascon, stated, “We expect the scale of growth of our project to positively impact what is already expected to be an economical project. Results from the Lac Gueret Project continue to reinforce our belief in the world-class p