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A friend introduce this stock to me a month ago. A junior mining stock listed in Toronto Stock Exchange. This company is cash strip but have a productive mine in Maxico. 1999 annual production is 65,084 oz. at a cash cost of $256 oz. Actual lost per share is $0.03 per share. The company had a project in Honduras and is in advance stage. Production will start in the 4th qtr. 2000. Annual production is estimated to be 60,000 oz. at a cash cost of $169/oz. Total annual production for the company will increased to 120,000 oz at a average cash cost of around $210. The company had a debt of about $7 million and a bridging loan (for Honduras project) of $3.5 million. With share price at Cad$0.20 at the moment, this company could be a target for acquisation by mid-size gold company or seniors as consolidation in gold industry at time of low gold price are common. Any opinion and feedback are welcome. Company web site is geomaque.com |
