MOA vs MAD
Following MOA's news release the share price has dropped from 0.67 to 0.62. MAD (Miranda) had a news release the next day with results of the JV with Newcrest in Nevada.
MAD
4723m drilled
longest intersection 64m @0.661 g AU/t
best intersection 3.05m @6.675
holes greater than 2g/t 3 of 21 holes
MOA (last year)
3048m drilled
longest intersection 49.2m @ 6.42g/t
best intersection 7.0m @ 31.66 g/t
holes greater than 2g/t 28 of 35 holes
The news release on Aug 31 was confirmatory drilling on the down dip and appears to improve the grade
e.g. 162.8m @4.12g/t; 15.0m @ 15.14 g/t
The depth of drilling is the same for both MOA and MAD. MAD like MOA is a project generator and joint ventures. MAD partners are high profile and is promoted by Paul Vaneden.
From MAD's news release to today the share price has moved to 1.17 from 0.95. My MAD money is now back in the bank.
It is easy to calculate the value of VL based on initial drilling and resource calculation, I expect we will see a new larger resouce calculation this fall.