We have written about several junior resource companies that have made stellar gains in a very short time frame:
MX Gold (TSX,V: MXL) which went from $.15 to $.38, now at $.27
Silver One Resources (TSX, V: SVE) which opened a few weeks ago at $.75 and reached a high of $1.25 and currently trades at $1.05
Arizona Mining (TSX:AZ) which we wrote about on September 1st when it was trading around $2.05 and currently is trading around $2.55.
We believe Coronet Metals Inc. (TSX,V: CRF) which is trading around $.40 this morning provides good upside potential and could see similar gains in its stock price.
Coronet Metals Inc. is engaged in the business of acquiring, exploring and developing natural resource properties, with a focus on precious mineral properties/projects which have the potential for both near-term cash flow and significant exploration upside potential.
Coronet’s White Caps Gold Project is near the town of Manhattan in Northern Nye County, Nevada, only 13 miles south of Kinross’ multi-million ounce Round Mountain Gold Mine. White Caps is well in line with its strategy of acquiring precious metals mining projects which have the potential for both near-term cash flow and significant exploration upside potential.
The near term excitement comes from the White Caps Gold Property
250,000 tonnes of historic mine dumps/tailings @ average grade of 3.15 g/t.**
These grades were from September 2012 assays that were conducted by a metallurgical testing company out of Colorado on representative samples and the average fire assay results for the tailings and dumps were 3.15 g/t. That is about 25,000 oz of gold in “situ”, based on these grades. The Company is continuing to make progress, using modern techniques for maximizing recovery. Older assays show higher values.
25,000 ounces of gold ready to be processed for cash flow. These are tailings which means that milling is not needed. From what I understand, management is investigating companies that can process the tailings efficiently and effectively.
Jeff Herman VP of Operations at the Tailings site
They also own the White Caps Gold Project located in the heart of the prolific Manhattan Mining district with over 2800 acres of patented and unpatented rich mining and mill site claims. The project is situated along the same geological trend as the Round Mountain Mine operated by Kinross Gold and located 13 miles to the north.
The company has less than 15,000,000 shares fully diluted, with insiders and former insiders owning about 2/3rds of the shares. With a stellar management team and near term clash flow, Coronet Metals presents current and future shareholders with good upside potential.
An excellent short video on the company can be found on the website:http://www.coronetmetals.com
We encourage you to view it.
Kal Kotecha PhD
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