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AQI |
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Here is a company with a $3 million market cap which recently signed a deal with Newmont to purchase a 500,000 ounce resource for 2 million. That is $4US per ounce.
I believe this junior is the best out there.
Here is something I copied from Stockhouse.
stockhouse.com
This is an excerpt from Steve Saville's recent write-up...
"We've got two mid-size gold producers in the TSI Stocks List (WHT and now NGX) and several junior gold/silver stocks. The junior stocks, in turn, fall into a few different categories. At one end of the spectrum are the advanced-stage exploration plays (or early-stage development plays) that have large resource bases and strong balance sheets, such as Western Silver, Cumberland Resources and Metallic Ventures. These stocks have the lowest risk. At the other end is Cardero Resource, a company that has a potentially great project on its hands but is yet to define any resources or even do any drilling. A stock such as Cardero is very risky, but it also offers the potential for spectacular gains. In terms of risk, the other stocks in the List fall somewhere in between. The market capitalisations of our junior stocks range from US$20M to US$120M.
We are now going to add a junior stock to the List that falls well outside the above market-cap range. In fact, this is not just the smallest company we've ever mentioned at TSI it is also the smallest that we are ever likely to mention. The name of the company is Aquiline Resources (TSXV: AQI), and based on Friday's closing price of C$0.26 its current market cap is only US$3M.
We think AQI is suitable for a small speculation as a result of its recent purchase, from Newmont Mining, of the Calcatreu gold project in Argentina. This project has an indicated gold resource of 510K ounces. AQI's goal is to increase the resource to around 1M ounces and be producing gold at the annual rate of 40,000 ounces by the 2nd quarter of next year. "
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