Lion One Metals Ltd (LOMLF)

[miningstock1]

Eric Coffin update

Lion One Metals (LIO-V; 0.72) came to life in the past couple of weeks. In part, the move stemmed from a release detailing historic results at Lion One’s Tuvatu project in Fiji. The release outlined some of the high grades from past drilling and from sampling in the exploration drifts. I think the point LIO was trying to make was that this is a project that went all the way to feasibility in the not too distant past. Lion One issued a PEA on the project last year but Emperor Mines subjected the project to much more detailed and advanced work 15 years ago and not that much has changed. We’ve been expecting LIO to pull a financing package together for Tuvatu ever since the PEA was released. I know management has been in discussions with numerous groups ever since and, frankly, I know management was frustrated by the lack of progress. The move in the gold price in the past couple of months has to be shifting the balance of power at the negotiating table. High grade is hot and LIO has it. While we’re all still in the dark about the form and specifics of a funding deal to move Tuvatu to production I think the odds of one showing up soon have increased dramatically in recent weeks. I expect management to get this across the fin-ish line if this strong resource market persists for much longer. Buy on weakness in anticipation of a deal to finance and construct the Tuvatu gold mine.

Read more at http://www.stockhouse.com/companies/bullboard/v.lio/lion-one-metals-limited#cwxRtSjLoJTHukEi.99