Charles Oliver, HBSc CFA
East Asia Minerals Corporation
EAS-X
COMMENT
Mar 08, 2010
Property in Indonesia in an area that hasn't been explored for much in the past. Drill results have been spectacular. Estimates of 5 to 10 million ounces of good grade and intercepts. Potential to be a mine. Still early stage and will be a long process.
Very attractive gold exploration company with several million ounces in the bag. Still in a major drill program. Over time it should get past the high of $2.70.
His company is a huge shareholder. Potential is to continue to connect deposits together. Participates with the gold price. Took some profits recently. Has potential to be prolific.
Indonesia. Were in a 20 or3 0 year war. The got out of that and are developing this asset. They are a long way from production. Just announced they are spinning off Uranium in Mongolia and gold in another part of Indonesia. You will have to wait for next stages.
There are a few issues. Land is in Indonesia and they don't have the forest designated sol that they can build a mine. Also they have not addressed metallurgy to designate the rock.