MMGG selling may be done! Jason giving a boost by email:
Zinc
Zinc inventories continue to decline, while zinc prices look ready to break out again above $1.60/lb. There has been a feeding frenzy of mergers and acquisitions of major billion dollar nickel & zinc miners lately, Inco & Falconbridge (familiar names!).
My zinc/silver stock:
Metalline Mining, (MMGG.OB)
metalin.com
Shares fully diluted: 50 million
At $2.70/share
Market cap: $135 million.
MMGG has about 5 billion pounds of high-grade zinc (10-15%) that has a very low cost of extraction, about $.25/lb., but they are working on feasibility study.
MMGG needs to raise about $250 million or so to construct a mine that can produce about 400 million pounds of zinc per year.
At current zinc prices (which will probably go up), MMGG could make about $500 million per year.
Metalline was recently profiled at:
greatinvestments.blogspot.com
My recent report on Metalline from June 2nd is at:
silverstockreport.com
The rumor on why MMGG's stock price is so low is that a major seller, BRITANNIA HOLDINGS, who had
2,510,000 shares worth about $6,701,7001, had to sell to cover real estate losses, and has now finished selling.
I honestly believe that MMGG has the highest grade, largest, well-defined, zinc deposit in the world, and is extremely undervalued. |
