RE: cdn mining journalThe news this week confirms in my mind that this is easily one of the most undervalued stocks out there. Backing out the $160 million in cash that they have leaves about $3.65 per share to value the entire Malartic gold property . Simply unbelievable. Looking at a map of the surrounding area and the gold extracted to date in that area the only annomaly so far is Malartic . Noranda at 19 million ounces, Bousquet 21 million, Val d'or at 20 million, Kirkland Lake at 24 million. Difficult to imagine that Malartic doesn't contain roughly the same number of ounces as these other camps. Recent drilling seems to confirm this. The financing this week from Cat reinforces the viability of this project. Another component of the final capital cost firmly nailed down.
Looks to me that the share price was marched down below the $5.00 mark as certain investors continue to build up their position. The pre feasibility study shows some robut economics for the main deposit let alone the other deposits that are being drilled. The South Barnat zone by itself should extend mine life by 6 years and increase the overall grade and economics of the project.
Enjoy the journey and go with the flow. This is simply an opportunity to add to one's current position. This price won't in my opinion be at this low level for too long. Excellent management team and as my grandfather who was a prospector said mining is all about location, location, location and this is by far the best location.
Sharpie