OTCQX:MEAUF - Post by User
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railwazeon Feb 26, 2014 2:18pm
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Lean and Mean Juniors Will Survive - Apr. 24/03
Lean and Mean Juniors Will Survive - Apr. 24/03https://juniorminingnews.com/?p=1994
KC: I’m a fan of Moneta Porcupine Mines Inc. (ME:TSX.V). The company’s asset is about 100 kilometers east of the town of Timmins, Ontario. We’re going to see some projects that are in a more agreeable location come in favor. Moneta Porcupine has, by and large, that potential. The project is right along the highway. It has power. There are mines nearby, including Brigus Gold Corp.’s (BRD:NYSE.MKT; BRD:TSX).
Moneta has a sizeable resource of about 4 million ounces (4 Moz) of Indicated and Inferred. It put out a very positive preliminary economic assessment (PEA) late last year.
The company’s story is changing. It used to be a simple open-pit and now it wants to look into an underground component. There’s a lot of work being done. Moneta recently hired some personnel fromDetour Gold Corp. (DGC:TSX). It will be interesting to see if Moneta is able to leverage its experience to expand the bulk target tonnage and develop the asset.