Million ounce opportunityNewmont operates the giant Pheonix mine at Battle Mountain, Nevada which is one of the largest if not the largest gold mine in the US and yesterday a two by twice penny, General Metals Corp. announced a plus million ounce gold resource on a property that is apparently internal to Pheonix. Take a look at General Metals (GNMT)
www.gnmtlive.com. Trading 5 - 8 cents and just announced 1 million ounce gold resource on property that is internal to Newmonts Pheonix Project!
Do the numbers here, trades at 8 cents a share you are buying gold for around $16 per ounce in the ground. Recent in ground resources have sold for between $50 and 400 per ounce in the ground! This indicates a value of $.25 to $2.00. Sounds like a good buy and an obvious take over, especially for their neighbor, Newmont.