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RESERVOIR MINERALS INC V.RMC

"Reservoir Minerals Inc is engaged in the acquisition, exploration and development of mineral properties in Serbia, Cameroon, Gabon, Macedonia and Romania."


TSXV:RMC - Post by User

Comment by rob926on Jun 18, 2014 11:01am
186 Views
Post# 22670800

RE:First Quantum/Lumina Deal: Implications for RMC

RE:First Quantum/Lumina Deal: Implications for RMCI would agree RMC is undervalued since we have analyst estimates at $9.00, and that is without any valuation of the potential porphyry or the 100% owned targets. There is a chance that our Cukaru Peki discovery might have more high grade deposits like the clusters found at Bor. Hole 1332 they drilled to the north that was 2,160 meters (drilled at an angle towards 1335) intersected  high grade at 920 meters for 8.9 meters and was 1.52% Cu Eq. Then picked up porphyry at 1140 to 1420 meters, and more porphyry at 1840 to 2160 (mineralization at the end of the hole) . There was a gap of 420 meters. I asked the company a while back about it and they said it might be 2 different porphyrys. We did intersect that 8.9 meters of high grade could it be the edge of another pocket of high grade. Hole 1335 hit porphyry at 1200 to 1680 meters. The last update on drilling had 5 holes that hit large intersections of porphyry. After this announcement they stopped drilling and went into negotiations with RMC and the Serbian goverment. My guess is Freeport knows enough to be fairly confident this is a high grade deposit with a large porphyry and decided they need to get their contracts done before they prove through the bit just how valuable this discovery is. I personally want RMC to hang on until we know more of what our 45% is worth (25% if we hang in there until the BFS a few years from now).  We are in a world class area of very large copper mines with a great discovery that we do not even know how big it is. Why sell when this could possibly be the best discovery in the last 30 years. I know I'm speculating but RMC has a chance of being a $20 to $30 dollar stock down the road if not more. I hope Freeport wants to get their deal with the Serbian goverment before RMC drills. The stock should jump when Freeport is back to drilling especially if they put 5 rigs back on. 
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