I bought MKO before I knew the infromation below. Red did a better Due Diligence job than I did and here is what he came up with: So on the surface it sure looks good to me from a fundamental view??
LAUNCHING PRE-FEASIBILITY STUDIES ON CABER-CABER NORTH AND ORPHEE ZN-CU DEPOSITS
Ressources Metco Inc. has simultaneously launched two prefeasibility studies on Caber-Caber North and on Orphee zinc-copper (Zn-Cu) deposits. Metco holds 100 per cent of Caber-Caber North while Metco holds its Orphee interest 50:50 with Breakwater Resources Ltd. Milling in both cases is to be at Breakwater's Langlois mill where there is current milling capacity available. Caber and Caber North deposits, about 1.2 kilometres (km) apart, are located about 40 km from the railhead in Matagami and a further approximate 100 km by rail to the Langlois mill in Lebel-sur-Quevillon. Orphee is located about six km from the Langlois mill.
Both studies will be of National Instrument (NI) 43-101 quality, and prepared for June, 2007, by the engineering firm Genivar from Quebec City with the resource estimates by Scott Wilson Roscoe Postle Associates Inc. (RPA) of Toronto, a firm well known in this field. Breakwater will be providing its co-operation and input throughout the studies. The resources at Caber-Caber North are as follows:
Caber
515,000 tonnes indicated (1) at 11.0 per cent Zn, 0.56 per cent Cu, 11.1 g/t silver (Ag) and 0.14 g/t gold (Au); and
285,000 tonnes inferred (1) at 8.5 per cent Zn, 0.80 per cent Cu, 11.6 g/t Ag and 0.14 g/t Au
Caber North
2.61 million tonnes inferred (2) at 4.26 per cent Zn, 1.59 per cent Cu, 21.06 g/t Ag
(1) estimated by Roscoe Postle in 1999, confirmed by D. Theberge, Eng, and Y. Bussieres, Eng, in 2005
(2) categorized by A. Tremblay, Eng, 2003.
The Orphee deposit contains inferred resources of 1.8 million tonnes at 4.25 per cent Zn, 0.54 per cent Cu and 11.75 g/t Ag. These historical resources, estimated by Cambior Inc. in 1998, were classified as inferred as per the Canadian norm NI 43-101, following a review of the description of the method and drill holes spacing used, by Yvan Bussieres, Eng, and Donald Theberge, Eng, MBA (technical qualification report NI 43-101 on Les proprietes du secteur Lebel-sur-Quevillon, Quebec, dated Nov. 15, 2005, and filed on SEDAR). In 2006, the increase in metal prices brought the partners to drill 9,000-plus metres in the central part of Orphee deposit in an attempt to upgrade the resources to the indicated level causing a decrease in tonnage, but resulting in a higher grade. The resources are being re-evaluated by RPA.
Metco also announces that approval from the regulation authorities were sought for the issuance of 82,042 common shares at the price of 11 cents per share as payment for interests totalling $9,024,66 payable to the Fonds de solidarite FTQ for the period from April 29, 2006, to Oct. 29, 2006.
We seek Safe Harbor.
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