I urge all BOC investors to check out Morumbi Resources, which trades on the TSX Venture Exchange in Toronto under the symbol MOC. The company has quietly signed not less than six MoU's recently with landowner groups on Bougainville (of which two yesterday, see link below).
What makes these MoU's so extremely interesting is that they are located in the direct surrounding area of Panguna, better known as "The Seven Sisters". The Seven Sisters are widely considered by mining experts to be among the largest gold/copper porphyry systems remaining in the world. Each and every one of them has the potential of Panguna so we are talking tens of billions pounds copper and tens of millions ounces gold.
This is a truly amazing achievement by tiny little Morumbi, which has a market cap of less than $20M (compared to $400M for BOC). Once the ABG has implemented the new mining policy (parliament already passed the motion unanimously on June 7) to start full scale exoploration, all the majors will be jumping over Morumbi to sign a JV or take them over. There is mammoth upside potential in the shares and I know for a fact that Newmont Mining already made a field trip to Bougainville in April to inspect the lands where MoU's have been signed for. Their top geologists were very impressed with what they saw so we can expect some serious firework any time soon.
I think we are about to witness a transformational period for both Morumbi and Bougainville. This will be the hottest place on earth soon so take position before it is too late. In my humble view MOC is far more interesting than BOC with less risk involved. After all, it still remains to be seen if the Panguna landowners will ever allowe BOC to become the operator again.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)