M&I should double at VL I spent some time on the weekend crunching numbers. The good thing about MOA and MOZ is they don't hide or obscure their results. I devised a formula to multimply average grade/ton by 2.66 specific gravity, by the average cross section area by the length of the strike. I get a total resource of about 650,000 (+/-), including inferred. At least 500,000 of those onces should be in the M&I category. I was hoping for at least 700,000 but the numbers just don't add up. At a depth of 250 m there is an average of just over 800 oz per m strike length. The important result is the increase in M&I which is critical for a positive PEA.
Glover Island looks very promising, but keep in mind the current strike length is only about 200 m. If the pending resource estimate is above 200,000 oz it will be very positive.
Between VL and GI, MOA should have about 500,000 oz to their name, which would put the fair value of MOA stock at about $1.00.
The unknown right now is whether there is another "heart of gold" to be discovered at VL. The last NR stated they had drilled 25 holes in 2012, but only 15 have been reported. A set of good drill results outside of Leprechaun could be the catalyst we need to get this stock moving up.
WW