LOATH to crow, but those little Kings Minerals which we either foolishly or prophetically labelled the next Oxiana two months ago, have since leapt from 5c to 15c. Expect some broking research out soon. The Kings crew will be doing a roadshow and the word is that their San Anton gold prospect in Mexico is shaping up like an Alumbrera gold equivalent. That means big.
Perhaps 4.5 million ounces grading 1.5g/tonne, for a start, which is great for a large porphyry deposit. Such would be worth $800 million or so after costs against Kings' $40 million market cap.
Their Canadian joint venture partner Wheaton River is already talking on its website about a 2.7 million resource. Having done a placement last month, part of which went to Colonial First State, the lads are cashed up, and if they don't prove up a big resource in San Anton it won't be because they're mining the market, rather than the earth.
good luck, i hold pgl & qrs only
KMN Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
