TSXV:ELVT.H - Post by User
Post by
arh0070on Nov 16, 2021 8:55am
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Post# 34130867
Elevation
ElevationI bailed out of Northern Vertex in disgust over the Eclipse buy out ,that was for 40 million .All engineered by MMX.I went looking and discovered an article in The Reno newspaper about a year ago related to local resident concerns about Eclipse and its possible development .Allen was quoted as saying realistically any mine at Eclipse would be 10 years away .I also saw that the 10 year option on Eclipse was acquired just 2 years before it was acquired by Vertex.Did a little digging and couldn't discover how much the 10 yr option on the Old Eclipse mine had been acquired for .
I suspect it was a great deal less than the 40 million Vertyex paid in what was a total ripoff in my opinion .
I also owned PGOL for a time and they sold 1/3 of a future mine in the same general area called the Bruner for about 1 million .That all went bust(Canamex) and now the Bruner is to be developed by a bigger well financed company .This is not to recommend PGOL but just to illustrate how cheap these future prospects in Nevada have exchanged hands for .The Moss will keep chugging along for a few years but I somehow doubt that it has the revenue to develope the Eclipse mine even if it is viable.Pretty apparent there will be local opposition to a mine there if the newspaper article is to be believed .