910,000oz Gold Resource, page-6

First 6 Last

Share
Profile

Follow
vertigo

11,416 Posts.

350

16/08/15

19:50

Post #: 15815964
Share

Originally posted by Stocks78 ↑

Stocks78: MCO was trading at $0.46 when raising $15 Million for Wood Point. MNM now explores this project for 4-5 Million takeover at a current SP $.016 (WHAT??? way undervalued). Looks the goods and real deal folks as Management see value and all the hard work and outlay was done by MCO so game on. If this comes good and I say "If" then we should see a $.10-.30 future gold producer reinvesting Gold funds Into other promising Projects that lay dead or under-explored. I see a major awakening with MNM and only time will tell, i have hope......cheers. IMO, DYOR........

P.S I feel Norton will fund this project also, a joint venture or offtake will get this all going with a keen Gold buyer looking for supply. IMO

Morning Star Gold raises A$15m for Woods Point Gold Project

Morning Star Gold (ASX: MCO) has raised A$15 million through a share placement of 32.6 million new fully paid ordinary shares at $0.46, equivalent to an additional 11.5% stake in the company.

The funds are to be allocated to the Woods Point Gold Project based around the Morning Star Goldmine in Woods Point Victoria.

The area encompassing the Woods Point goldfield, and the multiple high-grade gold bearing dyke structures located north towards Jamieson & south towards Walhalla, formed one of the most significant mining fields in Australian history.

Historical gold production was at least 155 tonnes or around 6 million ounces of over a century of mining, with an average production grade exceeding 27 grams per tonne.

Nick Garling, chairman, said "The deal pricing at a premium to our current share price indicates a strong vote of confidence in our emerging company Morning Star Gold.

"The placement was set at a 20% premium to MCO's 200 day moving average price."

Morning Star shares are unchanged at $0.46 in intra-day trading.

Expand

I don't think undervalued quite covers it. Current market cap at $8m, based on these figures could easily see $80m in the ST.

http://www.asx.com.au/asxpdf/20101108/pdf/31trdq6t4h8lf8.pdf

MNM Price at posting: 1.6¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

Reply

Top Stories

LMS

Litchfield boosts its copper, base and precious metals footprint in the NT with acquisitions

DRO

Droneshield shares move up on $13.5M US govt contract

AKO

Madagascar mining minister expresses support for Akora's Bekisopa iron ore project

EXR

Elixir winds up QLD operations with five of six zones flowing gas – but shares plummet -50%

RCE

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

There are more pages in this discussion • 162 more messages in this thread...

First 6 Last

Add AUL (ASX) to my watchlist

910,000oz Gold Resource, page-6

Top Stories

Litchfield boosts its copper, base and precious metals footprint in the NT with acquisitions

Droneshield shares move up on $13.5M US govt contract

Madagascar mining minister expresses support for Akora's Bekisopa iron ore project

Elixir winds up QLD operations with five of six zones flowing gas – but shares plummet -50%

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Featured News