Lundin refreshes buy of Lion One Metals Lundin refreshes buy of Lion One Metals
2014-10-22 14:49 ET - In the News
Brien Lundin, in the October, 2014, edition of the Gold Newsletter, refreshes his buy of Lion One Metals Ltd., recently 31 cents. Mr. Lundin said buy four times between December, 2010, and February, 2013, at prices ranging from 76 cents to $1.35. He then said sell in March, 2014, at 34 cents. Assuming a $1,000 investment for each of the four buys, selling the $4,000 position at 34 cents yielded a loss of $2,634. Mr. Lundin said buy again in August, 2014, at 41 cents. Assuming a $1,000 investment for the new buy, the position is now worth $756. Lion One has hired AMC Mining Consultants to complete an engineering and geotechnical study on its Tuvatu gold project in Fiji. The study will outline Tuvatu's underground and surface mine design, development and production schedules, manpower and equipment requirements, and capital cost estimates. Mr. Lundin is pleased with this update, and reminds his readers that the project currently hosts 1.1 million tonnes of 8.46 grams per tonne gold indicated and 1.5 million tonnes of 9.7 g/t gold inferred. Lion One remains a buy.