Moneta Porcupine Mines

A very large, low grade deposit. It has a little over 1 million ounces M&I, and probably 3 in inferred resources. A real, sketchy sort of deposit in that the mineralization is spotty. If you were to try to mine this as an open pit, your waste to ore ratio would be extremely high, especially given that it is such a low-grade deposit.

Excellent property in the Timmins area. Deposit is growing. Just raised about $30 million. Feels it is primed to be a mine in 2-3 years time. Has outperformed some of the Junior gold shares out there. Could see it going to $.40 easily.