Marengo (MGO) have current JORC resource of 371 Mil tons (world class) for 4 billion lbs in ground with likely increase to more than 500 mil tons at approx .5% cu eq within a month as per MGO’s quarterly release. However MGO’s market cap is only 25 mil which includes the 12 mil recently raised in cash effectively valuing project at 13 Mil. Market has not caught onto this one – BHP previously proved up over 1 billion tons (pre JORC). World class deposits such as this usually have market caps of US $200 mil equating to $1.50 per share. Currently trading at 21 c. Company looking at TSX or AIM listing mid year for greater recognition. Two rigs on site and in pre feasability. This will bolt soon.
Check out recent article on website http://www.marengomining.com/reports/HIGHGRADE_Yandera_Feb807.pdf
DYOR
Marengo (MGO) have current JORC resource of 371 Mil tons (world...
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