MONGER GOLD LTD
Shares on issue 28 Mil
IPO Price 20c
Mcap 5.6 Mil
Cash 5 mil
EV $ 600k
The Company’s Projects are:
➔ Mt Monger North
➔ Mt Monger South
➔ Gibraltar
Mt Monger North Project
- Located approximately 45km southeast of Kalgoorlie
- 15 prospects- Highly prospective for gold, nickel, and base metals
- Historical data from Silverlake Resources’ RC Drill program in 2012 demonstrates significant intersections
- Monger Gold will be actively investigating Mt Monger North for high-grade mineralisation using a systematic approach.
- Strong news flow expected from this project soon after
Also, Mt Monger North project is in close proximity to Lefroy Exploration LEX, NST, SLR, and BC8
Gibraltar Gold Project
● 4 prospects with favourable geochemistry
● Excellent proximity to historical gold workings
● The Gibraltar East prospect’s historical results include:
○ 1m @ 27.2g/t Au (from 28m)
○ 1m @ 12.2g/t Au (from 43m)
○ 2m @ 3.27 g/t Au (from 58m)
○ 3m @9.27g/t Au (from 27m)
Mt Monger South Project
● Significant prospectivity for gold and base metals
● 4 prospects to be the focus of future investigations with a substantial area of unexplored ground
● Mineralisation along the extensions of the Goddard Shear
Conclusion
Monger Gold is the cheapest IPO I have ever come across in terms of Enterprise value. At 20c EV is $ 600 k and at 40c EV will be $ 6.2 Mil Only.
Also, there was NO SEED / PRE IPO done.. which is very unique .. Meaning no shares were issues under the IPO price of 20c.
Monger Gold has 3 Brownfield Projects and such a low valuation.
Great top 20 .. Solid Management .. Impressive Historicals .... Drill Ready Projects .. Cheap Valuations
IMHO It got all the ingredients of becoming a short-term and Medium-term winner. Long Term performance will depend on drilling results
IMHO It should open around 30c to 33c and once IPO flippers are out and with any positive newsflow, It will start trading above 50c
Monger Gold got an extremely tight capital structure and very low SOI .. So with any positive news flow, the share price can move higher aggressively.
GLTAH
ALL IMHO
PLEASE DYOR
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Open | High | Low | Value | Volume |
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Price($) | Vol. | No. |
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