Hi,
My highlighted company for November, Lovitt Resources (LRC.V), can be accessed at the top left of the site. They are unique in that they have a substantial historical, high-grade resource (non-43 101) of 400,000 ounces of gold in the state of Washington and only 5.1 million shares outstanding with a market cap of under $2 million. A summary of the report in bullet points includes:
• Only 5.1 million shares outstanding with no options or warrants issued
• Non 43-101 compliant resource of approximately 400,000 ounces of gold (historical) at ~ 7 g/t
• No deep drilling on the Lovitt property but plans to deep drill it over the next few months
• Cannon Mine less than a mile away on trend produced 1.25 million ounces high grade gold
• Prior production at Lovitt Mine of 400,000 high grade gold ounces in the 1950's and 1960's
• In 1982, Breakwater went from $.18 to over $40 over the next few years on the Cannon discovery
• Current replacement cost of Lovitt Mine infrastructure and data would exceed $40 million
• Real estate and high tech processing equipment worth Lovitt's current market cap – gold for free
• Near-term production from high grade areas by hauling out material for milling
• Minimal capital cost of $1-$2 million....Kinross Buckhorn plant in Washington has excess capacity
• No prior promotion or marketing means this is a truly undiscovered story
• Current market cap of $1.8 million....private sales of this type have gone for over $10 million
• Safe jurisdiction with water, power, labor and other requirements available locally
• Patented claims 100% owned by Lovitt Resources with no exploration permitting required
• With gold at the $1,000 level and the junior market heating up, investors will be looking for high
grade gold exploration companies with a ultra-tight share structure for the most leverage
• Recent exhibiting at the Toronto Resource Show was the “coming out party” - building awareness
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