Re: Goldcorp looking for acquistions. Oh wait! I know one.
in response to
by
posted on
Sep 12, 2008 10:30AM
Red Lake and Geraldton are Canada's PREMIER addresses for gold
One item that must be on Goldcorp's menu is Premier gold PIRGF.PK PG.TO, ~c$2.11.
Look at the maps and read the June quarterly MD&A discussion of the Wilmar hole that hit the Red Lake Gold Mine horizon.
Also, you get to the extensions of red lake mine that the jv owns from tunnels owned by Goldcorp.
Plus Premier's their other prospects are coming up high grade too -- beardmore-geraldton, mexico.
http://www.premiergoldmines.com/s/Ho...
And yes, I added to my holdings this morning.
Premier has 69 mm shs priced at 2.12 right now, so the market cap is only $146 mm.
in my book, that is a steal, given that they are not running out of cash any time soon, already have a jv with goldcorp at red lake, etc.
and although PG received no credit in this s...t market, they reported in mid-august that they DISCOVERED a second very high grade gold discovery down on the santa teresa property in mexico, where they are earning 65 percent from sutter.
EXTRACT:
"Hole ST006 returned 82.91 g/t gold (2.42 oz/ton) from 173.80 metres to 175.30 metres. This interval is characterized by grey quartz veining, bands of pyrite, pyrrhotite and sphalerite mineralization as well as visible gold. Premier regards the results from this intercept as significant for the following reasons:
"It represents a vein occurrence not previously identified in the historic record on the property.
"It supports the belief that high grade mineralization occurs in multiple vein systems within a much wider structural corridor.
"It increases the strike length of the mineralized system at Santa Teresa to approximately 400 metres and occurs nearly 500 metres from the past-producing Princessa Mine."
http://www.premiergoldmines.com/s/Ne...
Also, i get a feeling of real competence from ewan downie, ceo of premier. a lot of what premier is working with is good prospects left over from wolfden, from when he sold off the company's base metal prospects
http://www.resourceinvestor.com/pebb...
http://www.resourceinvestor.com/pebb...