Heads up on Erin Ventures Inc. (TSX-V: EV) (US Listing: ERVFF) where there is a remarkable situation shaping up with Boron and a very serious gold project that will be a company maker in itself, however the flagship now is Boron and we peg their project as the 3rd largest deposit in the world. Something you should know about Boron is the global supply comes from a handful of sources and the project that Erin Ventures has will make it a serious target. Rio Tinto is the only real competition and the Turkish Government (but they are not as favorable as they are plagued with arsenic), the margins are very large - this should play out well for investors involved now as the management is straight up and steady.
Erin Ventures Inc. (TSX-V: EV) (US Listing: ERVFF) 100% owned Piskanja Boron deposit in Serbia is the 3rd largest boron deposit in the world and it was only very recently (August 31, 2010) returned to them as the rightful owners by the Serbian government after a 5 year hiatus. BEFORE the hiatus EV.V had a market cap of ~CDN$88M and then they only owned half the project, NOW EV.V has a market cap under CDN$15M and has 100% ownership plus they have potential near term cash flow scenarios on several fronts; needless to say with only ~123M shares outstanding and trading under CDN$0.15, shares of EV.V appear poised for significant upside revaluation.
The Piskanja boron deposit has a historical (non NI 43-101 compliant) estimate of ~7.5M tonnes grading 39% B203 (boron) and it appears to Mining MarketWatch Journal from its own (non 43-101) interpretation that the probable numbers are 10 - 12M tonnes and possible 20M+. Now that Erin Ventures has regained the property, the historic tonnage is expected to be surpassed and brought compliant to NI 43-101 standards; the data from past drilling and exploration conducted by Erin Ventures and Rio Tinto was conducted to a high standard. The high grade boron deposit is currently defined in three near surface lenses (beds of boron rich mineralization - similar to how potash is found) ranging in thicknesses from 1 to 9 metres and has the advantage of (so far) being arsenic free. Erin's license covers ~3 square kilometers containing an ancient lakebed whereby the boron was deposited through volcanic activity and it is believed there should be boron throughout -- so far EV.V has explored only ~4% of that basin yet has already established the 3rd largest deposit in the world. EV.V is in active discussions with potential strategic partners of size that will be able to facilitate an end market for the boron and advance the project to fruition.
Controlling interest in Santa Rosa open pit gold mine, Panama, a past producer with 60,000 oz/annum capacity facility shutdown a decade ago with then (now consider historical non 43-101) ~900,000oz proven and ~1.5M oz resource of gold at a grade averaging 1.3g/t using gold price of $350.
Near term cash flow potential from 100% owned Volujski Kljuc alluvial gold project, Serbia. Systematically drilled revealing (historic non 43-101 compliant) 29 million cubic metres of auriferous gravel grading 0.29 g Au/cubic metre from surface to bedrock. Low cost to bring operational.
Recommended Reading: miningmarketwatch.net
Company Website: erinventures.com |
