#1 Wed, Nov 25, 2020 - 12:23pm
Norsemont Mining is on sale
Just a bump for this project...
- 49.2 million shares fully diluted now trading @ 77 cents USD = $37 million market cap
- present resource 4.1 million ounces Au and 62.5 million ounces Ag (estimate- not yet 43-101 compliant)
Craig provided a podcast September 21st, hosting Mark Levy; CEO of Norsemont.
The stock was trading around $2.30 a share that day.
I added to this position with a 3-5 year view based on present market cap relative to potential prospects of this property:
A PAST PRODUCING GOLD MINE
- Purchased as a ‘turnkey’ operation, the site features:
- Year round road access
- A functioning ADR effluent treatment plant
- Power and permitted water on site
- A 3,000 tonne a day mill
- A fully equipped camp, offices and warehouse
- A ready to use lab for preparation
DRILL RESULTS; notice the depth of mineralization...
- 1700 holes and 130,000 meters of drilling;
There has been some amazing price dips over the last month in some of these juniors.
I just added a bunch more of this equity, with a 3-5 year view.
Super low share float, and they can drill at depth via cash flow from the mill... According to Mark Levy in the interview with Craig; the 1700 drill holes and infrastructure on site would cost approx $250 million.
Edited by: silverseeker on Nov 25, 2020 - 12:40pm
