OTCQX:MEAUF - Post by User
Post by
kbradleyon Jan 08, 2015 6:14pm
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Post# 23300131
Fenn Gib comparison/Lakeshore Gold Property
Fenn Gib comparison/Lakeshore Gold Property
the Lakeshore Gold Fenn Gib resource property is right beside Moneta if I am not mistaken. They bought the Fenn-Gib property from Barrick for $60 milllion back in 2011. As of today this is a low grade deposit which has 1.3 million oucnes at .99 grams/ton and 750,000 ounces at .95 grams/ton. They mention possible 200,000 ounces of production per year on their website. Moneta's property is not far from this, hard to tell but less than 10km? We have 4 million ounces with a better overall grade better than a gram/ton.. Is it possible to value Moneta's property with this comparable resource. Barrick has the option of buying back in for a 51% share if over 5 milliion ounces are proven up. Together this would be a huge deposit place the mine right in the middle of the two. So with our exciting new drill results and an open system...can we not get $.50 a share for ME?