daytrades march 28 morning, page-21

MGO got a big plug in the Eureka Report:

The real stand-out in my view, however, is Marengo Mining (MGO), which is not yet covered by the major brokers. While the $298 million-cap gold and copper play has already risen 156.5% in the past 12 months to three times its net tangible assets, Marengo warrants attention insofar as the company trades at a fraction of its resource base.

As Tim Treadgold mentioned in his Minefield column on Monday, Marengo has a 6.5 billion pound copper resource, which makes its Yandera deposit one of the biggest potential copper mines in the world.

But only by putting that figure into context do we see the company?s true potential. At $US4 a pound, Yandera?s copper resource base is hypothetically worth $US26 billion, or $26.16 per share ? almost 89 times current levels. Further, Marengo has a 204 million pound Molybdenum resource, which, based on a hypothetical value of $US15 a pound ? could be valued at $US3 billion.