Opinions
Brent Cook
Eastmain Resources Inc
ER-T
COMMENT
Mar 08, 2016
$0.390
Stock price when the opinion was issued
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COMMENT
Have spent over $30 million delineating a high grade quartz vein in central Québec. This is the year when we finally find out what the economics are of open pitting the upper part of this system and then going underground. They have about 1 million ounces of 4 g per ton and another million more ounces which they actually had to kick out of the resource when they finally understood the controls of the mineralization. If you don’t understand the controls, very bad things happen. The stock does hold promise. Hopes they get more ounces out of the drilling they have done that they can put into the mining plan.
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The big catalyst going forward is if they found, identified and drilled out an economic deposit. Have been drilling this project for 10 years plus. They continue to hit mineralization, and there is good mineralization on it, but his concern has always been it’s a shattered up vein system, so it is difficult to put in a high grade mining scenario because the veins are jumping around. Not convinced it is a significantly economic deposit.