The Gold Report
Notable Quotes
"ICG has closed a CA$2.5M flow-through placement." (12/24/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report More >
"The exploration upside at MAG's Juanicipio project is substantial." (12/23/15) MAG Silver Corp. - Gwen Preston, Resource Maven More >
"AKG's management continues to deliver on its development milestones." (12/22/15) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities More >
"We are initiating coverage on KDX with a Buy rating." (12/21/15) Klondex Mines Ltd. - Don Blyth, Paradigm Capital More >
"VIT's Eagle is a shovel-ready, fully permitted, prefinanced gold project." (12/17/15) Victoria Gold Corp. - Tom Hayes, Edison Investment Research More >
MCO Mines Profits
|
TRENT ALLEN, Resource Capital Research
(09/27/2010)
"MCO's onsite gravity plant is being commissioned, ready for initial production of 15–25 Koz/yr. Au at 12–15 g/t, from Oct 2010. Assays are pending from regional drilling at All Nations prospect, while development at Rose of Denmark has signs of gold mineralization. MCO is managing a JV with Hong Kong's Ample Rise Investments, which is investing AUD$4.5M over two years to earn 51% of regional mining licenses MIN5299 and MIN5241. Drilling has commenced and will focus on the historic All Nations, Rose of Denmark and Hunts mines. All Nations, which is 4 km. SW of Morning Star, produced ~132 Koz. Au @ ~1 oz./ton from reefs and dykes at shallow depths (60m–90m); assays are expected in early October from initial five drill holes. Development along the Rose of Denmark adit has found strong signs of mineralization in development. Valuation: The underground resource at Morning Star is 2 Mt. @ 11.2 g/t, within MCO's target head grade of 10–15 g/t Au. . . .Investment Comment: Currently, project NPV at gold LT US$900/oz. is 93% above market capitalization (i.e., MCO's share price should increase if confidence grows in the Woods Point Project, with plant commissioning and into the first years of production. Regional holdings have potential to provide a 3–4 Moz. Au resource base. The share price is highly leveraged to the gold price, as shown by the recent 15% 1-month share price gain in an improving USD gold market." |
PRINT THIS PAGE
EMAIL THIS PAGE
Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.
More Experts
"We expect PGLC's Relief Canyon site to be meaningfully advanced in 2016." (12/16/15) Pershing Gold Corp. - Heiko Ihle, Rodman & Renshaw More >
"ICG continues to stand out as one of the most active junior exploration companies globally." (12/9/15) Integra Gold Corp. - Michael Gray, Macquarie Equity Research More >
"We are initiating coverage on NMI with a Buy rating." (12/9/15) Newmarket Gold Inc. - Heiko Ihle, Rodman & Renshaw More >
"TV's mill throughput was up 19% MOM; zinc recovery improved by 9%." (12/9/15) Trevali Mining Corp. - Joseph Gallucci, More >
"THO pays a good dividend and produces at the lowest quartile costs." (12/9/15) Tahoe Resources Inc. - Gwen Preston, Resource Maven More >