Norsemont Mining is on sale

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#1 Wed, Nov 25, 2020 - 12:23pm
silverseeker
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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

A grain of sand in the gearbox of tyranny

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