GREY:MPRXF - Post by User
Post by
benandemmibooon Jan 08, 2015 8:11pm
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Post# 23300453
analysis from 12/18/2014
analysis from 12/18/2014 Link to info found here: https://www.goldsilverdata.com/company/300-Mega-Precious-Metals-Inc.html
Summary (from last analysis - 12/18/2014)
Mega Precious Minerals is highly undervalued. They have a low market cap of $7 million fully diluted, yet they have two late stage projects in Canada with good infrastructure. Total resources of both projects are 4 million oz and rising. The Monument Bay project has 3 million oz at 1.2 gpt. Plus, their North Madsen project at Red Lake is a 1 million oz resource at 1.2 gpt that is growing. And they have three other properties in Red Lake for future exploration.
They recently received financing to advance the Monument Bay project to the feasibility stage (PEA due in 2015). It is very likely this mine will get built. My only problem with this stock is management will not commit to building the mine. They are leaving open the possibility of selling the project. From my experience, this usually means they are open to offers and will take the first good one they receive.
Currently gold in the ground doesn’t have much value. If they sell Monument Bay for $10 per oz, that would be about $40 million. Even with that much cash in the bank, I doubt that would make this much more than a 3 bagger. However, if they build the mine themselves, this has 50 bagger potential.