Eastmain Resources Inc. (fka EANRF)

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gsfl

10/18/10 7:14 PM

Post #1

This is a buy and hold. They will be taken over by a major.

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Eastmain Resources Inc. (fka EANRF)

Followers	3	Posters	14
Posts (Today)	0	Posts (Total)	51
Created	10/04/10	Type	Free
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Eastmain Resources // EANRF // OTC, also ER.TO // TSX
Canadian company with 3 projects in James Bay Quebec region. 8 other significant land packages. Very good region for mining, already has significant infrastructure built in this area.
Eau Claire (Clearwater project): M&I: 951,000 oz Au @ 4.09 g/t Inferred: 633,000 oz Au @ 3.88 g/t 99,000m drilled 2011-2013, started drilling here in late 2015 (13K m) and 63K m planned for 2016 ($8.8 mil budget). Has open pit potential.
Eastmain Mine: $40 mil invested by previous owners on exploration and development. 40K oz Au minined in 1995 @ 10.5g/t, have resources of 255,000 oz Au @ 10 g/t. 2016 exploration program of $1.5 mil.
Eleonore South JV property (Eastmain 36.7%, Goldcorp 36.7%, Azimut 26.6%) High grade grab samples (11.6-142 g/t Au). Near Goldcorp's Elenore mine (8 mil oz Au) 2,500 m drilling planned for end of 2016 and 2,500 m in early 2017.
Good experienced mgmt.
Top major shareholders: Polygon 9.7%, Integra Gold (ICG.V / ICGQF) 9.1%, Goldcorp 6%, RBC Asset Mgmt 2.3%, 10 others with 0-2%. Insiders own 3%, Retail is 51%
175 mil shares outstanding, 191 mil fully diluted 18.1 mil cash on hand. http://www.eastmain.com/