CORPORATE DATA September 24, 1998
ME TORONTO STOCK EXCHANGE
ME BERLIN STOCK EXCHANGE
MOP FRANKFURT STOCK EXCHANGE
Common Shares Issued 47,083,170
Warrants (unlisted) ex 20 cents 2,615,732
Share Price $0.12
Share Price Range (12 month) $0.39 - $0.35
Market Capitalization $5.6 million
Moneta Porcupine Mines Inc. (Moneta) is a long established Canadian junior mining
company and has been listed on the Toronto Stock Exchange since 1910. The
company has an experienced management team and a high quality exploration
portfolio, comprising almost 10% of the prolific Porcupine Gold Camp, which has
produced 63 million ounces of gold to date. Moneta's twelve Porcupine Camp gold
properties are located along the 120 km of the Destor Porcupine Fault Zone (DPFZ)
which hosts world class mines operated by Barrick, Kinross and Placer Dome.
Moneta's corporate strategy has been to minimize exploration risk and maximize
shareholder reward from it's large exploration portfolio by a combination of Joint
Venture and sole risk exploration. The principal JV is with Cameco which must pay
$100,000 cash and commit $1.5m in exploration over 3 years to earn 60% of
Moneta's Kayorum property. Moneta's greatest asset is the 454 claim Golden
Highway project, east of Timmins. This large, well advanced exploration property
is located on the DPFZ, has had over $10 million spent to date and has a 460,000
oz. gold resource (2.4mt @ 6.1 g/t) with multi million ounce potential. Innovatively,
Pentland Firth and Moneta have pooled 73 claim units to create the North Tisdale
JV and explore the prospective 14 km extension of the "New Mine Trends",
northeast of Timmins.
In 1997, Moneta undertook $510,000 of sole risk exploration and focused on the
Nighthawk Lake gold property with minor expenditure on the Kamiskota base metal
properties. Moneta's 106 claim Nighthawk Lake properties are located between the
Royal Oak and Echo Bay operations which have estimated gold resources in excess
of 3 million ounces. Moneta has successfully drilled exploration targets in a similar
geological setting with highly encouraging assay results. Moneta's wholly owned
US interests comprise a gold property and an integrated perlite producer with
significant reserves. Moneta also receives income in the form of option
payments and management fees.
Internet home page monetaporcupine.com
|
