Quebec Precious Metals Corporation V.QPM

Alternate Symbol(s): CJCFF

Metals & Mining Gold

Quebec Precious Metals Corporation is a Canada-based gold explorer with a land position in the prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Eleonore gold mine. The Company focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Company holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec. The Sakami project consists of one large contiguous block of 281 mineral claims and includes the contiguous claims, which are located 90 km northwest of the Eleonore mine, 570 km north of Val-d'Or and 900 km northwest of Montreal. The Cheechoo-Eleonore Trend project lies about 24 km northwest of the Eleonore mine. The Elmer East project consists of 929 claims, which is located along a trend from the recent Patwon Prospect gold discovery made by Azimut Exploration Inc. It also holds interest in the Matheson Joint Venture project.

TSXV:QPM - Post by User

Quebec Precious Metals Corporation

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Post by miner49er2on Feb 23, 2011 9:18pm

433 Views

Post# 18184403

GMA/CJC valuation post-financing

Trying to compare apples to apples to show CJC's upside potential...

CJC
Shares outstanding prior to today's announcement re: financing > 14,004,660
Today's financing annoucement
Max common shares: 3,500,000
Max full warrants: 1,750,000
Fully diluted share count post-financing: 19,254,660 shares
February 23, 2011 closing share price: 65 cents
Market Cap (fully diluted): $12,515,529
The road accessible Goéland Property is located approximately 200 km northeast of Val-D'Or in the Abitibi area of Quebec and consists of 47 mining claims within and adjacent to the Montviel Carbonatite complex. Historic exploration at Montviel has revealed strong potential for rare earth element ("REE"), niobium and phosphate mineralization. The Property consists of two claim groups; one on the west side of the complex and one on the east side. The western group consists of 23 claims (1,265 hectares) and covers one of the two main areas within the complex underlain by unit Pmtv 5. Geomega Resources Inc. (TSXv: GMA) is currently drilling a 10,000 metre drill program to test mineralization associated with Pmtv 5 within the central part of the complex along with other satellite targets. The eastern claim group consists of 22 claims (1,210 hectares) and is covered with thick overburden.
- Historical holes reported on February 18, 2011
- 2011 exploration activities pending (funding expected from financing announced on February 23, 2011)

GMA
According to the latest records at Sedar, here is GMA's share count for the period ending November 30, 2010:
Shares issued and outstanding: 14,257,856
Options: 1,400,000
Warrants: 4,402,145
Broker's Options: 415,000
Adding the additional shares (1,111,110 common shares & 555,555 whole warrants) from the financing announced on February 3, 2011 and January 28, 2011 we arrive at a fully diluted share count of: 22,141,666 shares.
February 23, 2011 closing share price: $3.42
Market Cap (fully diluted): $75,724,497

Phase 1 drill program in progress
- 2,800m+ of 10,000m drilled (6 of ~20 planned holes drilled)
- Assay from 2 holes reported

GMA's market cap (fully diluted) is currently ~6.05 times greater than CJC's. Hmmm...

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