elef vrs. nuagfinaly ELEF has got a super marketing tool on their hand. I hope this incapable management can use it efficiently.
NUAG has recently provided official resources: M&I -155,8M oz Ag and Inferred - 35,5M oz at 137 gr/t cut-off (
total: 191M oz)
https://web.tmxmoney.com/article.php?newsid=8113934556933112&qm_symbol=NUAG
ELEF has got currently 43-101 confirmed recources:
Paca - 20,9M oz @256g/t cut-off, inferred
Pulacayo East - 37M oz.@455g/t cut-off, indicated & inferred
After remodeling at lower cut-off a new resource calculation (expected in Q2, 20) might look like this:
Pulacayo East 60 to 70Moz @150g/t M&I
Total: 85M to 100M oz.
Pulacayo West ( drilling in January 20) could add another 15 to 20M oz. inferred resources, making global resource target of 100M to 120M oz Ag
Last year BMO valuated NUAG with $500M based on estimated 250Moz silver in the ground, it means with $2/ oz. The todays NUAG valuation is $700M ( incl. $30M cash)
my order for next catalysts 2020 is following: financing close - resource update- analyst coverage-spin off vanadium & financing-amex-next phase drilling
... but a puzzle remains open: why and to whom J.Lee sold his 8.5M shares last weeks ( >50% of his holdings)