t.geo (Geomaque -Palladium)
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CANADA NETNOTES:
From: Coolio
Subject: T.GEO, V.ORL, T.WRM
LeRoy,
These following 3 companies are all trading near 52 wk lows. All of them are profitable and have little or no debt. The old adage is to look at companies like this when no one else is. [T.GEO] $0.29
Geomaque is a gold miner, has no debt and reported $561,000 in earnings last quarter (-$596,000 same period last year) while reducing costs per oz. by 10% at the San Francisco mine in Sonora Mexico.
Another mine in Honduras, the Vueltas del Rio, has completed construction as s scheduled, and gold production is on target to begin in the fourth quarter. Gold production at Vueltas del Rio is projected at 60,000 ounces per year at a cash cost of $169 per ounce.
On Nov 7 GEO announced an option agreement with a subsidiary of PolyMet Mining Corp. on its advanced Marathon project, located 10 kilometres north of Marathon, Ont. The buzzword here is, of course, platinum and palladium.
The Marathon deposit was previously estimated to contain a resource of 37 million tonnes averaging 1.1 grams per tonne palladium, 0.27 g/t platinum, 0.21 g/t gold, 1.85 g/t silver, 0.38 per cent copper and 0.032 per cent nickel. The total contained metal in this resource is 1.3 million ounces of palladium, 320,000 ounces of platinum, 250,000 ounces of gold, 2.2 million ounces of silver, 310 million pounds of copper and 26 million pounds of nickel. The deposit also contains recoverable amounts of rhodium and cobalt.
https://www.geomaque.com