As has previously been posted on HC comparible companies listed overseas on AIM and TSX with similar size deposits have market caps of around USD $200 mill which equals $1.50 per share. The MD, Les Emery, in an article from High Grade resource magazine recently stated that
“there are 2-3 Canadian companies in the same league, in terms of resource size – they are all in that 0.5-1 billion-tonne deposit range. Generally when they are reaching that level (resource) they have a market cap around the $US200 million. So that’s where we see our upside with our next upgrade of the resource estimate, which we expect to have out in about a month’s time. We’re targeting 500Mt, but we do know the system was rated by BHP at one billion tones pre-JORC days.”
Hold on!!!
MGO Price at posting:
0.0¢ Sentiment: None Disclosure: Held