early research..jorc 740k oz 2006

Morning all. Getting a bit enamoured with this one so thought I'd do a few "background checks" for us...

Excerpt from a forum in 2006 (interesting comparison to AVO):

"Spotted a new gold float listing today, managed to get under my radar, but then not such a bad thing as market may ignore it giving opportunity to pick up stock @ or less than 20c IPO price,

Has 60m Shares fully dilluted,
$6m or 10c per share cash
and a JORC Gold Deposit of 12.6Mt @ 1.8g/t for 740,000 oz's Gold

@ an EV value of say $25/oz = $18.5m + $6m cash = A good asset value of around $24m = 40c per share,


Thoughts?

I know gold has falllen a bit from favour, but its so hard to find good JORC holding companies, AVO has a similar sized deposit and commands a mkt cap of $50m- $75m"

PLUS

Here's a link to a 2004 Aquila Resources pdf re Yamarna Greenstone Belt with a great high grade gold intercept from North Khan (seperate from CB)...33m @ 7.4g/t gold from 40m to end of hole YARC 303:

www.aquilaresources.com.au/files/270804_yamarna.pdf


Obviously AQA opted out with their JV partner Yamarna Goldfields (now MPJ Mining Projects Group) for whatever reasons and the tenements were taken over by EKM IN 2006.

Given that there is/are:

1. A large JORC (will try to get details) already in existence,

2. Continuing stellar assays from CB and Justinian etc,

3. Not too shabby assays from Nth Khan with mineralisation to EOH,

4. Almost 4,000 sq km of elephant country (100% EKM)left to be explored and drilled,

5. Tight register....only 226M shares out,

and

6. Gold is on the ascendancy,

YAM and AQA may rue the day they decided to move on to other projects and most importantly, EKM could have a lot more upside in it's sp than what's already been shown.

IMO anyway.

It also begs the obvious question, just how many ozs of gold are we sitting on?

Hope this gives yus a little bit more understanding of EKM's potential.

Cheers and GL,
chick