Thursday, February 09, 2017 5:18:06 PM
LMV-H.V Endeavour 2.0 Bermejal U/G for free
Leagold, ex-EDV.TO CEO Niel Woodyear's next project filed a 43-101 today showing that you get the underground reserves for free. Leagold bought Los Filos from goldcorp for USD 360M and the NPV10% post-tax on only the open-pit Bermejal and Open-pit + U/G Los Filos RESERVES of USD 360M @ $1300 gold.
http://www.leagold.com/news/2017/leagold-mining-files-ni-43-101-technical-report-on-los-filos-gold-min
We'll see what happens with the Bermegal U/G. The PEA is meaningless since the ore is INFERRED tonnage and they claim an AISC of $439/oz which is totally unrealistic. Who said 43-101's protect resource investors since Bre-X again?
Nothing worth buying here IMO but I will be watching Leagold over the next couple years since the CEO is coming off an amazing track record with EDV through the downturn, though if you bought EDV in 2009 you are still underwater! It's all about timing and picking up the turn-around/executing story at a bargain. Could have bought any gold stock but endeavour in 2009 and made buckets of money through 2011...
Leagold, ex-EDV.TO CEO Niel Woodyear's next project filed a 43-101 today showing that you get the underground reserves for free. Leagold bought Los Filos from goldcorp for USD 360M and the NPV10% post-tax on only the open-pit Bermejal and Open-pit + U/G Los Filos RESERVES of USD 360M @ $1300 gold.
http://www.leagold.com/news/2017/leagold-mining-files-ni-43-101-technical-report-on-los-filos-gold-min
We'll see what happens with the Bermegal U/G. The PEA is meaningless since the ore is INFERRED tonnage and they claim an AISC of $439/oz which is totally unrealistic. Who said 43-101's protect resource investors since Bre-X again?
Nothing worth buying here IMO but I will be watching Leagold over the next couple years since the CEO is coming off an amazing track record with EDV through the downturn, though if you bought EDV in 2009 you are still underwater! It's all about timing and picking up the turn-around/executing story at a bargain. Could have bought any gold stock but endeavour in 2009 and made buckets of money through 2011...
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