Michael Smedley
East Asia Minerals Corporation
EAS-X
WAIT
Mar 08, 2011
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.
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.
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.
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.
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.