To give you a bit of an insight into the real potential here, La Colosa, a gold project located nearby to our Quinchia portfolio, had an estimated 29million ouches of gold in the ground. Now if you have a calculator that can do maths at say roughly $2000 aud/oz then that’s how you get multi-billion dollar market caps. Mine calculator says error, so that’s how big the number is.
Our first objective is to drill the F out of these projects to make a picture of how big these porphyry systems really are. Then we can getting an official estimation of how much gold is in the ground (JORC). After all that, then we talk about production, but my guess would be potential takeover and a healthy payout to us shareholders.
Now obviously 29 million oz if a mother-load and best case scenario, but the whole area of the mid-Cauca porphyry belt, is scattered with multi million oz mines, including 11 million oz Marmato mine, which is also next door to us.
So before you decide to take a couple pips profit, think of the potential. It may take a 100 or more drill holes to give us an idea of the exact size, but every result gets us closer. And think the more holes we drill, the bigger the system!!
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Mkt cap ! $7.719M |
Open | High | Low | Value | Volume |
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Price($) | Vol. | No. |
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12 | 3661821 | 0.007 |
6 | 3380008 | 0.006 |
5 | 5270000 | 0.005 |
5 | 3277843 | 0.004 |
Price($) | Vol. | No. |
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0.010 | 2524977 | 8 |
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