Chibougamau Independent Mines Inc V.CBG

Speaking of Undervalued...

[SuneeDaze]

Even with the recent rise in sp, CBG is still greatly undervalued relative to its peers. DCMC with a $35 million mc; BTU (current Red Lake darling) @ $25 million after one hole...Just for CBG to get to a $10 million market cap, CBG would need a sp of $0.21...and still be undervalued to its peers, particularly given CBG's fundamentals (see  below one last time)...
 
** CBG holds 17 properties in the Chibougamau area, including 8 past producing mines, most of which remain open at depth
 
** Bateman deposit hosts a resource to 183 m of 678,750 tons grading 1.76% copper, 4.13 g/t gold, 16.71 g/t silver
 
** Berrigan North hosts a resource of 1.4 MT grading 1.77 g/t gold and 3.17% zinc
 
** Holes released from their previous drill program include:
BJ-19-21 which assayed 10.6 m of 3.06% copper, 2.96 g/t gold, 13.04 g/t silver and within that there was 4.38 m grading 4.01% copper, 4.90 g/t gold and 16.17 g/t silver

BJ-19-22 which assayed 15.6 m of 3.02% copper, 0.48 g/t gold and 20.2 g/t silver and within that there was 5.9 m of 5.64% copper, 0.82 g/t gold and 61.12 g/t silver
 
Those are impressive intersections. And when you include the closest hole to 22 which was BJ-19-18 graded 9.2 m of 7.7% copper, 3.58 g/t gold and 33.25 g silver/t, you can see why the company remains optimistic when the deposit remains open in several directions and at depth where the grades trend higher
 
Other noteworthy points include…
 
** share count of approximately 47 million; market cap under $7 million
 
** considerable insider ownership of about 20% meaning that management, as well as we benefit from their success; as well there have been lots of recent insider buys on the open market
 
** the company in the past has received considerable interest from other parties to sell/option some of their properties. Always a positive sign when others want you or your ground!
 
** infrastructure is all in place meaning exploration costs are greatly reduced
 
Given the above fundamentals and CBG’s undervaluation of $7 million, 2020 should be rewarding as they two (fundamentals/valuation) become more equitable and in line with their peers.
 
Have a good afternoon!

[permagrin]

Thanks is for compiling this info.  I’m just reposting it to hopefully get it above all that spammed content.  Stockhouse, do something!

[trawel87]

This post has been removed in accordance with Community Policy

[permagrin]

Just because it bugs me me that people are spamming here. This is what’s important on this board! VVVVVVVVVVVVVVVVVVVVVVVVVV