RE:RE:Three shows in succession up comingI'm in for 120,000 shares at much higher prices.
I ask myself how much is 20 million Ag oz (should have near that amount after the 2024 DP ) and the entire eastern end of the Keno Hill district exploration upside worth to Hecla?
That's five years of ore in their 4 million oz production per annum mill.
Hecla would highly desire the drill defined resource and upside with total control of the Keno Hill District given their stated goal of going all in at Keno.Hl are investing $150 million USD's into Keno Hill upgrades and infrastructure in 2024,alone.Hecla are spending over $8m USD's in drilling at Keno in 2024-1/3rd of the company's budget for all their projects in fiscal 2024.
Hecla should purchase Keno East but it would be nice if another company pressed their hand with another offer. Keno is up for sale because La Plata is the flagship and needs to be drilled 12 months per year for years on end into the future.
So,what is it worth ? Anybody? The market is valuing Keno and La Plata at $38 m Canadian dollars @ 200m shares fully diluted.
That's a $27 m USD MCAP for:
La Plata: 1.2 Billion pounds of Copper + 17.6 m oz silver + 2023 drilling+gold/platinum/palladium updated resource that is now imminent. Then there's the 2024 DP resource tabulation that won't be done til next year to be added onto this coming update.
Keno Silver: 20 million oz resource once the 2024 DP is tabulated.
Formo is a 12.77 million oz Ag Eq underground resource -within five kms of Hecla's mill.
The 2024 DP focused on Formo with exploratory targets tested.
Formo has been drilled down 250 m from surface.
HL is drilling 1050m below Bermingham and finding high-grade resources at Bermingham Deep:
Bermingham Deep – Follow up on a high-grade, 2023 intercept 1,050 feet below
Bermingham resource testing 3,000 feet of strike length.
"Formo could be another Bermingham with the appropriate drilling." Scott Petsel
17:03
https://www.youtube.com/watch?v=x3l9QtrSsKo&t=184s
The market values both of these districts and resources at .19 Canadian.
With a sale of Keno or a split of the company's projects to address market undervaluation I sense the company will be revalued.
MMG need the cash to develop La Plata and Hecla will want to control the entire Keno district and MMG's defined resource.
My