Mountain Lake Resources Ltd ( MOA) VSE Message Board

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Gold/Mining/Energy : Mountain Lake Resources Ltd ( MOA) VSE

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From: Salt'n'Peppa	2/18/2005 1:04:42 AM
	of 598

New Sprott report & target for Etruscan Resources: buyside.com A couple of things jump out at me: 1) Target price of $3.35 2) Share price breakdown on page 4 gives $2.90 credit for EET gold properties, including $0.96/share for Samira Hill alone. This leaves $0.45/share credit for all the South Africa diamond properties. 3) This comment at the end of the report is the "clincher": "The potential returns from these relatively simple open pit diamond operations may quickly overshadow those of the existing gold assets within the company." Just imagine what that same statement implies to the value of Mountain Lake Resources (MOA:TSX-V). With 1/4 the shares of EET & half the stake in the diamond play, MOA diamond exposure is effectively double that of EET on a per share basis. If Mr. Stein thinks the diamonds can "overshadow" $2.90/share for EET, that means he thinks they will exceed $5.80/share for MOA. (EET currently trades at $1.77, MOA at $0.66) Cheers, S&P

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