from Kerry Lutz's Financial Survival Network
We spoke with sponsor Mistango River Resources’ Chairman Stephen Stewart. He was quite pleased with the company’s just released drill results, intersecting 86.2 g/t of gold over .5 meters and 5.11 g/t of gold over .97 meters. There was visible gold in this hole and in another, for which they’re still awaiting results.
This confirms Stephen’s thesis that the gold has traveled west from the ultra-productive adjacent Macassa mine. While the Phase 1 drill program didn’t yield any major results, Phase 2 is working out well and will help focus future targeting activities for the Kirkland West Project.
Stephen observes that the past year was a difficult one for the junior mining sector, but is optimistic about the year ahead. Mistango currently has a market cap of CAD $10 million and has $7 million in the bank, leaving an enterprise value of just $3 million. In addition, the prior $60 million Kirkland deal means there will be little if any future dilution. With 600,000 ounces at Omega and hopefully more on the way, its trading for less than $5 per ounce in the ground, an oversized discount. Herein lies the potential value of Mistango.
Stephen expects the news flow to greatly increase this year and is counting on more positive drill results ahead. More drilling is planned for Omega and he believes more good news will be forthcoming.
Ticker Symbol: CSE – MIS
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