Talk about cheap.
SOI 105m
Cash at 26 July $6,1m
at 7c that gives an EV of just $1,25m!
Most shells are more expensive than that....
And they don't offer a Michael O'Keefe deal, fully funded through all drilling phases on a prospective gold project.
O'Keefe developed Riversdale till bought out by RIO for $3,4 Billion USD ($4B AUD). Then he created CIA - Champion Iron, current Market Cap of $375m. He was also MD of Glencore Australia for many years. Can't get better mining and management pedigree than that. And this is his next project...
The project is a 25% share in ELO:TSX tenement along the Puca fault. Rock chip samples with gold up to 33g/t, and a new target zone with multiple veins just recently confirmed. In June they already had permits for 8000m of drill and targets mapped.
Here is an article of interest from late June:
Financial Post article La Victoria project
With an EV of $1.25m this should go pretty hard especially with the pedigree of the man behind it and the prospectivity of the project. And if you are still in any doubt, just look how much he's holding on the T20 through various entities.
