Q: early days but would like your comments on oct 1 presser re massive sulphide
mineralization 9 km
thank you
mineralization 9 km
thank you
5i Research Answer:
This was a 2-cent stock recently, and thus we do not know it well. Market cap is still only $22M even with a 533% YTD gain. Insiders own 51% so the float is tiny and easily manipulated. The 9 KM 'discovery' is only chip samples and not diamond drilling. It may have something, but it is going to take a lot more drilling and capital even to get close to reserve status. The company seems a bit promotional to us, and we would be very cautious here in the short term.