According to the companies website 80% Comval was acquired in 2012 for $3 million cash and 2.6 million shares. I know a lot has been spent on the project over the past few years and a number of promising drill intercepts (12.2m @ 2.2 GPT Au) and channel sampling at Tagpura North 36m @ 4.84 g/t Au including 8m at 11.56 g/t Au.
However do we really need this project? Does it add any value to MNE in this current market? Comval needs to be explored to create any value and we simply do not have the money to explore both El Roble and Comval simultaneously.
IMO we need to focus purely on El Roble, Explore, pay off Slomberg, sell Comval ($1,000,000+) and then maybe consider sinking a few holes back home into the EM conductor at Teutonic Project.
Whats it worth in today's market? Is it worth holding?
Cheers
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