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Morien Resources Corp V.MOX

Alternate Symbol(s):  APMCF

Morien Resources Corp. is a Canada-based mining development company. The Company’s principal business is the identification and purchase of mineral interests and projects. The Corporation holds two royalty interests on the sale of coal from the Donkin Mine in Cape Breton, Nova Scotia, and a royalty on the sale of crushed stone from the permitted Black Point Quarry Project, in Guysborough County, Nova Scotia. The Company owns a gross production royalty on coal sales from the Donkin Mine in Cape Breton, Nova Scotia, owned by Kameron Collieries ULC, a subsidiary of The Cline Group LLC. The Black Point Aggregate Project is a granite deposit with a mine life of around 75-years located along the southern shore of Chedabucto Bay in Guysborough County, Nova Scotia. The Project possesses suitable characteristics for the development of a crushed stone marine export operation for supplying markets in the eastern United States.


TSXV:MOX - Post by User

Bullboard Posts
Post by cupricityon Jan 22, 2014 12:19pm
277 Views
Post# 22120783

The bottom is in. The wolves are out.

The bottom is in. The wolves are out.   Between the Russians, the Chinese, and now Mick Davis, there is 45 billion dollars in Coal under the sea, with tunnels, port, railway bed, and environmental approval at Donkin.  
  https://www.bloomberg.com/news/2014-01-22/ex-xstrata-ceo-davis-said-to-seek-3-billion-to-buy-mines.html
   Currenty our market cap sits a 5 million.  Times 4 to account for Xstrata-Glencore and we have a market cap of 20 million.
    There are several ways to look at this.
    NPV is about a billion dollars.  So 2% of NPV.
    Total Resoruce of 400 million tonnes at 20 million is 5 cents a tonne.
    Total Value is 45 billion so we are .05% of total value.
    Total Money spent on this project in 2014 dollars= 260 million. So 7% of money invested.
    (I valued the tunnels at 230 million with a 120 million 1990 dollar plus inflation)
    Peak of Market valuation in 2011(seems like a million years ago) 180 million.
    Dilution (-50%).
    In other words  ERD traded at 1.80 based mostly on Donkin. We halved the shares.  So at the 
    peak of the market, before we had EA approval, our shares would be worth at least 3 dollars.
    A 30 bagger for the taking.
    
    Other factors-ready work force that is tired of commuting to western Canada.  No replacement for met coal on the horizon  (unlike thermal).  Ready and willing government.  World Economy ramping up.    American manufacturing taking a shot in the arm from low gas prices.  

  Still long, still crazy about Donkin, been right, been wrong, this story aint over and nothing matters until you sell, except when you buy

   

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