KSK: The Next Pebble

321gold (03/30/2010)
"If you are a long time reader of 321gold and can remember back to when I wrote about Pebble many years ago, when I went to Toronto, I came across the next Pebble. The company is called Kiska Metals. Kiska did a deal with Rio Tinto on a giant block of land 90 miles NW of Anchorage. They have 527 square km of Alaska State mining claims and a 50-person camp.

The deposit is a gold-rich, copper porphyry. Within the main Whistler zone, they have 5.75 million ounce AU equivalent resource in inferred and indicated combined. It's a district and they have new gold discoveries 23 km south and 17 km east south east of Whistler. With a $48 million dollar market cap, you are buying gold in the ground for less than $10/oz. and their discovery costs are less than $4/oz.

. . .I was the first guy to write up Northern Dynasty and this is another giant porphyry target. I was impressed with the management of Kiska, the company is funded for a major drill program and a lot of uncertainty will be removed once Rio announces their decision. The stock is very, very cheap right now and is a perpetual call on both gold and copper."

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