STTCOMP FRC, FA LONG
MC $4.5m SP 2.5c cash $1m
Aside from the fact that it does not need cash in the very near future and there is not much HC chatter about it
- holds neighbouring tenements to Evolution (EVN) - capped at just under $4 billion, these were actually owned by EVN and relinquished by QLD government (Red is FRC and Blue is EVN)
- A couple of the Board and management team are ex Conquest Mining guys, which was half of the merger into Evolution , so they would know and understand the grounds quite well. Also quite confident that their grounds are similar to neighbouring Evolution in terms of what is underneath
-Rock chip sampling has brought back high grades
- according to their 5b, FRC has committed $300k to exploration this quarter, last quarter was only $4k, so they are getting serious now that gold is in favour.
not every day you find a $4m market cap company in possession of neighbouring tenements that once belonged to a $4 billion dollar behemoth, with ex management on the board, similar mineralisation with $300k committed to exploration this quarter.
