resources growing quickly, page-6

Continued from first 2 posts:

MOE.ASX (Moto) holds 98% of MGL.TSX (Moto Goldmines Ltd). The latter has'nt got a website.

MGL has about 44.3 mill shares and 10.2 mill unlisted warrants/options.

Currently, the MGL share price is CAN$3.75 and the corresponding MOE.ASX price should be Can$3.75/5*1.165 or AUS 87.4 cents (At present, MOE holds about 5 times the number of MGL shares, warrants and options)

The MOE shares sell 4 cents cheaper at 83 cents.

So, what about the future?
Sofar, there is no end to drilling and accruing more gold asssets at a rapid pace. However, the BFS is due at the end of 2006 or before that.

The Gold grade of 2.6 grammes/tonne will suit the Majors as the resource could be close to say 13-15 mill ounces of Gold by then.

I can see a better price as we get closer to the BFS. MOE is not well known for their marketing and some improvement is recommended.

The next Resource update is this month.

Subject to audit,

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.