To VC and all,
Received a fax from Hunter-Dickinson concerning Misty Mountain, which today announced an independently calculated resource estimate of 2.88 million ounces for the Specogna Deposit -- in B.C., I believe. It caught my eye because of the similarity between their resource and ECM's resource. BTW, I hold 0 shares of MGL and numerous shares of ECM.
For MGL, Independent Mining Consultants estimates a total mill feed of 52.7 million tonnes of ore averaging 1.7 grams/tonne, or 2.88 million ounces. Now, MGL has less than 11,000,000 shares f. d. and closed today at $3.30 on the TSE. In other words, proven mgmt., a known resource, additional drill targets, good grades, and still it trades at $12.6/ounce.
Apparently, we shouldn't think ECM is the lone ranger when it comes to undervalued jr. gold stocks. Here's hoping there's way more than 2.88 million ozs. at Lo Increible. |
