Murchison Targets the Green Energy Metals in 2022: Cobalt, Copper, Nickel, Zinc and Silver.

It seems of late that every time I get excited about the technicals of the gold chart and then go on to make a comment about it I quickly get taught a lesson in humility. Well, enough of that, there are plenty of other commodities out there and many of them are far more important to the future build-out of the green economy. I’m talking about key electric vehicle and clean energy production and storage metals like nickel, copper, cobalt, and silver to name a few. Perhaps these commodities and their underlying prices will be a little kinder to me and not crash a day or two after I extol their virtues. Although nickel is trading at 5-year highs and copper isn’t far off of its recent highs. At least cobalt is only near 3-year highs and well off the peak it reached in early 2018. So fingers crossed I’m not some sort of a short-term price jinx and fundamentals will rule the day.

A Canadian company developing numerous projects that provide exposure to cobalt, copper, nickel, zinc and silver is Murchison Minerals Ltd. (TSXV: MUR). Murchison is focused on the exploration and development of the 100% owned Brabant Lake zinc‐copper‐silver project in north‐central Saskatchewan. The Company also owns 100% of the Haut Plateau de la Manicouagan (HPM) nickel‐copper‐cobalt project in Quebec and holds an option to earn 100% interest in the Barraute VMS exploration project also located in Quebec, north of Val d’Or. Saskatchewan and Quebec are two of the best mining jurisdictions in Canada and, arguably, in the world. Additionally, these projects are surrounded by excellent, established infrastructure.

The last time I had a look at Murchison I focused on the Betty Zone at Brabant Lake given that was where I saw the bulk of the news being generated at that time. So today we’ll focus on the HPM project because that’s been the source of most of the excitement for the Company over the last couple of months. The HPM property is located between Baie-Comeau and Fermont, Québec, about 20 km from an all-season road connecting the two communities, 8 km to railroad, and about 225 km to the Port of Sept Iles. The property is associated with the Manicouagan Metamorphic Complex and hosts several nickel-copper cobalt occurrences.

Most activity at the HPM project has been focused on the highly prospective PYC target area where the Company identified significant sulphide mineralization on the surface over a strike length in excess of 1.7 km. Assay results from its June prospecting program, from grab samples and short backpack drill core samples, feature assays as high as 1.27% nickel equivalent or 2.59% copper equivalent (0.79% Ni, 0.14% Cu, 0.15% Co) from 0.83 metres of backpack drill core. Assay results also confirm mineralization south-east of the PYC target at the newly discovered Dix showing, which assayed as high as 0.90% Nickel Equivalent or 1.83% Copper Equivalent (0.44% Ni, 0.39% Cu, 0.10% Co) from 0.45 metre of backpack drill core.

Source: Murchison Minerals Aug 16, 2021 Press Release

Following a successful capital raise of $4 million that closed in October, the Company is in an excellent financial position to unlock the potential of HPM. To that end, on November 2nd Murchison announced it had commenced a 3,550 m drilling program focusing on the PYC target while concurrently prospecting a number of significant geophysical anomalies that were identified on the HPM project during a 655 line-kilometre airborne electromagnetic survey completed earlier this year. To date, the Company has successfully completed seven drill holes totaling 1,599 m testing approximately 550 m of the airborne electromagnetic anomaly with significant pyrrhotite and minor chalcopyrite mineralization observed in all seven holes. A handheld portable Niton XRF (X-Ray Fluorescence analyzer that enables real-time, quantitative sample analysis in the field) confirms the presence of nickel, copper and cobalt within the sulphide intervals. Now we await the assays to learn just how much of those valuable commodities are present in these rocks.

One need look no further than the bidding war that broke out over Noront Resources and its nickel-copper-PGE project in neighbouring Ontario, where it looks like BHP Group Ltd will be the successful suitor, to understand the value of these types of resources. Granted Murchison has a bit of work ahead of them to define a comparable asset but that’s why they only have a market cap of $22 million today. A successful winter drilling program at HPM could put Murchison Minerals on the radar of companies like BHP.




The more gold the merrier, introducing the LSE listed project generator Panther Metals

With the debate about inflation raging on as to whether it’s transitory, or what the definition of transitory even is, we are starting to see gold catch a bit of a bid of late. In early September I wrote an article about whether it was time to invest in gold or gold producers. In the article, I looked at the technicals for the commodity and wasn’t convinced it was a buy (or a sell) at the time, but I did suggest that it would be a whole different story if the price spent a few days above US$1,850. Guess what? As of yesterday’s close, gold has closed above this significant threshold for 5 consecutive days. I’m now changing my tune and would suggest the gold trade looks a lot more interesting at the moment.

Correspondingly, one would anticipate that if the underlying commodity starts to look like an appealing trade then so should those companies involved in gold exploration and production as well. After all, the rising tide for uranium has certainly lifted all boats from what I can see, and quite significantly in many cases. With that in mind today we are going to look at a company that is incorporated in the Isle of Man but has gold projects in Canada and Australia. Listed on the Main Market of the London Stock Exchange, Panther Metals PLC (LSE: PALM) invests in or acquires companies or projects within the natural resources sector which have the potential for growth and value generation over the medium to long term. The Company does have a couple of interesting nickel-cobalt prospects in Western Australia and a few other resource targets in Canada but, given my introduction, I will stick to the gold prospects for now.

We’ll start with the Canadian assets because there is a little more explaining required for the structure of the Australian properties. Panther has three assets all located in Ontario, Canada, in and around the north shore of Lake Superior. In late September the Company announced it had begun drilling a 400m hole at its Dotted Lake Property located approximately 20 km from Barrick Gold Corporation’s renowned Hemlo Gold Mine. Gold prospects on the property include 23.3 g/t Au over 0.3m and 9.0 g/t Au over 0.4m from channel sampling with reconnaissance rock-chip grades of up to 16.95 g/t Au along a 2km shear-zone. At the Obonga Project the Company announced in early October that it would drill up to three diamond core holes seeking to test the Wishbone volcanogenic massive sulphide prospect. There is also the Big Bear Project which consists of mineral claims covering an area of 42km2 over highly prospective and under-explored greenstone stratigraphy.

Source: Panther Metals PLC corporate website

Skipping across to the other side of the world, Panther has numerous assets in both the Northern Territory and in Western Australia. The catch is that Panther Metals PLC is currently spinning out these assets into Panther Metals Limited (PML) which should begin trading on the Australian Securities Exchange on December 10, 2021. Upon completion of this transaction Panther Metals PLC will hold 36.6% of PML. Given that Panther is a project generator this transaction made sense to provide the working capital to develop the Australian portfolio. Part of the PML IPO was the issuing of new shares resulting in A$5 million being raised to fund the advancement of these assets.

Now that we have the housekeeping details out of the way let’s start with the key Western Australia assets. The Merolia Project comprises a series of largely contiguous exploration licenses located 35 km to the southeast of the town of Laverton in the Eastern Goldfields Province of Western Australia. The area around Laverton includes several major gold mines, including Granny Smith (3 Moz), Sunrise Dam (8 Moz) and Wallaby (8 Moz), and many other significant gold deposits. It is one of the most prolific gold producing areas in Western Australia and is consequently well-serviced by infrastructure and has a skilled local workforce. Previous drilling across this prospect area includes 8m at 6.7 g/t Au at Burtville East and 9m at 46.5 g/t Au at Ironstone. Approximately 15km to the west of Laverton lies the Red Flag Project with its best near surface drill intercept of 2m at 9.2 g/t Au.

The Northern Territory assets include the Annaburroo and Marrakai gold projects, which comprise two granted licenses covering a total area of 160km2, located 70km to the southeast of Darwin. Both license areas are close to good infrastructure and the Toms Gully and Rustlers Roost deposits, which are owned by China Hanking Holdings Limited. Previous drilling in the area provided intercepts including 2m @ 9.32 g/t Au and 2m @ 5.74 g/t Au.

This interesting Company provides you a couple of options for participation. If you are more of a fan of the Australian assets, you can simply wait a few weeks and trade PML directly. If you are like me and think the more prospects the merrier then you can go with the parent company Panther Metals PLC and gain exposure to the Canadian assets as well.




Westward Gold’s survey results focus on its Nevada Properties

The gold price has been creeping higher lately without getting much attention and is currently at US$1,857/oz. Perhaps the passing and signing today of the US$1 trillion infrastructure deal will help gold rise even higher as US government spending continues, and the US Federal Reserve prints countless more US dollars to fund it. Certainly, it appears that US interest rates may be on hold until after the Fed taper ends around July 2022. All of this remains very positive for gold.

Westward Gold Inc. (CSE: WG) (formerly IM Exploration Inc.) is a junior gold exploration venture with two Nevada gold exploration properties, as well as an Ontario graphite-gold exploration property. The Nevada properties are located along the Battle MountainEureka Gold Trend, one of the most prospective gold mining districts in the world. The two adjacent properties sit a short distance away from some of Barrick Gold’s and Nevada Gold Mines’ largest mines and deposits.

Westward Gold’s two adjacent properties in Nevada are near large gold mines and deposits including Cortez, Cortez Hills, Pipeline, Goldrush, and Four Mile

Source: Westward Gold company presentation

Westward Gold’s two Nevada gold projects are:

  • Toiyabe Gold Project (earning into a 100% ownership position) – An advanced stage exploration project covering 1,340 hectares with past drilling, active permits in place, and a historic Resource of 173koz of gold at 1.2g/t (not yet to be relied upon). The historic Courtney Zone resource is largely hosted in mineralized structures between 15-75m from the surface.
  • Turquoise Canyon Project (earning into a 100% ownership position) – A greenfield property of 1,530 hectares with geological characteristics trending from the adjacent Toiyabe Project. There has been no drilling to date but there has been anomalous gold found in soil samples. Surface expression of the Roberts Mountain Thrust and surface geochemical anomalies coincide with gravity anomalies indicating mineralization at depth.

Westward Gold also has a 90% earn-in interest on the Mulloy Project, a graphite and gold exploration property of 1,328 hectares in Ontario, Canada. Past drilling at the Project has intercepted 16.9m of 0.67g/t Au, 0.7m of 1.54 g/t Au, 1.5m of 1.22 g/t Au, and 1.2m of 3.33 g/t.

Latest news and results at the Toiyabe and Turquoise Canyon gold projects in Nevada

In news just released last week, Westward Gold announced results of their hyperspectral core imaging and airborne hyperspectral survey campaigns at the Toiyabe and Turquoise Canyon Projects. Westward Gold stated:

“The initial results of the two surveys confirm a large hydrothermal footprint at Toiyabe, resulting in alteration of favorable host rocks, predominantly the Wenban and Roberts Mountains Formations. These formations are also important hosts at many nearby large-scale gold mines and deposits, including Pipeline, South Pipeline, Crossroads, Cortez Pits, and Cortez Hills. The recent hyperspectral data builds upon the legacy data….The newly-identified and quantified alteration will aid as a pathfinder to mineralization, allowing Westward to optimize future drill targets and potentially expand upon previous significant intercepts. The Company is in the process of planning its inaugural drill campaign for the first half of 2022.”

Note: The legacy data includes the historical Resource of 173koz of gold at 1.2g/t at Toiyabe.

Regarding the airborne hyperspectral survey, a total area of ~35 square kilometers was processed, including both Toiyabe and Turquoise Canyon, and surrounding land. Westward Gold stated:

“The airborne survey has identified alteration minerals along the surface expression of structures, indicating these structures likely acted as fluid conduits similar in nature to those observed in the Toiyabe drill core……The distribution of alteration minerals seen on the surface at Turquoise Canyon confirms previously-inferred structures, and is spatially associated with anomalous gold, silver, arsenic, lead, and zinc in soil.”

Next steps

Westward Gold only acquired (via earn in options) their two new Nevada properties in April and June of this year. The results reported last week from hyperspectral surveys (both core samples and airborne survey) are now being assembled together to build a 3D model of the Toiyabe and Turquoise Canyon properties. When completed, the model will provide the first 3D visualization of surface and subsurface data at the projects. Results so far look reasonably positive especially the large hydrothermal footprint. This is all leading up to determine the best drill targets for a H1 2022 drill campaign.

Westward Gold investment highlights

Source: Westward Gold company presentation

Closing remarks

Nevada is well known globally as a top-tier gold location, and in 2018 Nevada produced 5.58 million troy ounces of gold, representing 78% of US gold and 5.0% of the world’s gold production.

Westward Gold trades on a market cap of only C$7.6 million, which means if they make a good size gold discovery in 2022 the stock can potentially move many times higher. Risk for early-stage miners is high,so investors need to invest cautiously. All indicators and the past results are looking good, so stay tuned over the next year to see what Westward Gold can discover in Nevada, and perhaps also in Ontario.




Robert Vallis of Signature Resources speaks with Chris Thompson about High-Grade Gold Value Results

In a recent InvestorIntel interview, Chris Thompson spoke with Robert Vallis, President, CEO, and Director of Signature Resources Ltd. (TSXV: SGU | OTCQB: SGGTF) about Signature’s recent drill results, which displayed  significant high-grade gold values at its Lingman Lake Gold Project in the prolific Red Lake District in Ontario, Canada.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Robert Vallis said that the drill results indicate the potential for a much larger mineralized footprint at the Lingman Lake Gold Project, and he explained how Signature has derisked the project and is well-positioned with its own drill rigs, crew, and supplies. He also said  that the Lingman Lake Gold Project has a historical resource of over 234,000 oz of gold averaging 6.87 g/t and is a favorable location for finding additional large-scale high-grade gold deposition.

To watch the full interview, click here.

About Signature Resources Ltd.

The Lingman Lake Gold Property consists of 1,434 staked claims, four freehold, fully-patented claims, and 14 mineral rights patented claims, totaling approximately 27,113 hectares. The property hosts an historical estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g/t with 2.73 gpt cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at 46-metres, 84-metres and 122-metres depths.

To learn more about Signature Resources Ltd., click here

Disclaimer: Signature Resources Ltd. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp. (IIC) does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken,  as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please email info@investorintel.com.




Joel Freudman discusses TRU Precious Metals’ drill program located between two major gold deposits in Newfoundland

In a recent InvestorIntel interview, Tracy Weslosky spoke with Joel Freudman, Co-Founder, President, and CEO of TRU Precious Metals Corp. (TSXV: TRU | OTCQB: TRUIF) about the company’s commencement of a 5,000 metre drill program at TRU’s Golden Rose Project located between two major gold deposits in the Central Newfoundland Gold Belt.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Joel Freudman said that his company’s Golden Rose Project lies along the same gold-bearing corridor as its neighbors. He went on to say that TRU is in a strong cash position to continue exploration and is led by an experienced team with a track record of success. In the interview, Joel also highlighted TRU’s competitive advantages, which have attracted high-profile investors like Eric Sprott, Palisades Goldcorp, and Altius Minerals along with several institutional investors.

To watch the full interview, click here.

About TRU Precious Metals Corp.

TRU is drilling for gold in the highly prospective Central Newfoundland Gold Belt and has an option with a subsidiary of TSX-listed Altius Minerals Corporation to purchase 100% of the Golden Rose Project, located along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. TRU also owns 100% of the Twilite Gold Project, located along the same Shear Zone, and earlier-stage properties in the region. TRU’s common shares trade on the TSX Venture Exchange under the symbol “TRU”, on the OTCQB Venture Market under the symbol “TRUIF”, and on the Frankfurt exchange under the symbol “706”.

To know more about TRU Precious Metals Corp., click here.

Disclaimer: TRU Precious Metals Corp. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp. (IIC) does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended as objectives and are not intended, and should not be taken,  as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition, or results of operations, may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please email info@investorintel.com.




West Red Lake Gold’s Tom Meredith on its High-Grade Drill Results and on the impact of Inflation upon the Gold Markets

In a recent InvestorIntel interview, Tracy Weslosky spoke with Tom Meredith, Executive Chairman of West Red Lake Gold Mines, Inc. (CSE: RLG | OTCQB: RLGMF), about its recent high-grade drill result of 77.87 grams per tonne of gold at its Rowan Mine and discussed the gold market’s reaction to inflation in the economy.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Meredith pointed out that West Red Lake Gold’s Rowan Mine already has a NI 43-101 resource of over a million ounces of gold. He continued by saying that having high-grade gold near to the surface in one of the most prolific mining districts in Ontario, and  with four operating mills in the area, places West Red Lake Gold is in a very competitive position. Providing an update on demand drivers in the current gold market, Tom said that since all the conditions are in place for inflation to continue,  capital flows will be driven into the gold sector, which will, in turn, drive capital flows into gold exploration companies, such as West Red Lake Gold Mines, Inc.

To watch the full interview, click here

About West Red Lake Gold Mines

West Red Lake Gold Mines is a Toronto-based minerals exploration company focused on  development in the prolific Red Lake Gold District of Northwestern Ontario, Canada. The Red Lake Gold District is host to some of the richest gold deposits in the world and has produced 30 million ounces of gold from its high grade zones. The Company has assembled a significant property position with a combined total of 3,100 hectares in the west Red Lake (the “West Red Lake Project”) district, which contains three former gold mines located 15 km west of the Red Lake mine complex. The Mount Jamie Mine and Red Summit Mine properties are 100% owned by the Company and the Rowan Mine property is held in a 69% – 31% joint venture with Evolution Mining Limited. The West Red Lake Project property covers a 12 km strike length along the Pipestone Bay St Paul Deformation Zone and the Company is continuing to explore the property both along the strike and to depth during 2021.

To learn more about West Red Lake Gold Mines Inc., click here

Disclaimer: West Red Lake Gold Mines Inc. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp. (IIC) does not contain, nor does it purport to contain, a summary of all the material information concerning the Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete. 

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken,  as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please email info@investorintel.com.




TRU Precious Metals, (Gold), is leveraged for drilling success

Anyone who has read my previous articles knows that when it comes to junior mining companies I’m a big fan of the catalyst provided by the drill bit. Another thing I like is closeology, so I get even more interested when a company is drilling holes on a trend between two existing deposits. Not that there is anything scientific about this, nor does it guarantee there will be any success. Nevertheless, you have to start somewhere, so these are some of the screening tools I use to narrow down the field of mining companies I want to have a look at.

Based on that, it should come as no surprise that today we are going to look at a company that is about to do exactly what I’ve described above. TRU Precious Metals Corp. (TSXV: TRU |OTCQB: TRUIF) has assembled a portfolio of gold exploration properties in the Central Newfoundland Gold Belt, in Newfoundland and Labrador, Canada. InvestorIntel readers may be scratching their heads thinking that I just wrote about a Newfoundland gold play, and you’d be correct. This is one of the most exciting gold exploration districts in the world right now, so why not double down on the fun. I look particularly at smaller cap names that have a lot more leverage from good news, both theirs and anyone’s else in the neighborhood.

TRU spent the first half of 2021 focused on drilling its Twilite Gold Project, completing 12 holes for a total of 2,577 meters at the Fort Knox Gold Zone. All assays have been completed and highlights include 11.5 metres (m) with 1.03 grams per tonne (g/t) of gold (Au) in hole TL-21-17, 10.5 m with 1.07 g/t Au in hole TL-21-16, 6.0 m grading 1.06 g/t Au in drill hole TL-21-18, 3.0 m grading 0.85 g/t Au in drill hole TL-21-20, and the intersection of 1.00 g/t au over 2 m in borehole TL-21-27. The drill program successfully extended the known Fort Knox gold zone along strike and down dip and provided valuable geological information to help vector future drill programs in extending the zone. The gold zone remains open to the northwest beyond hole TL-21-17, where the zone is widening, and the gold grades are improving both at depth and along trend in the northwest direction.

The reason TRU drilled Twilite first was because the option agreement to purchase the flagship Golden Rose project closed on May 11th of this year. The Company has done three subsequent transactions to further consolidate the area, adding 62 km2 of contiguous mineral claims in June, another 45 claim covering 1,125 hectares located along trend from the 550m long South Wood Lake Gold Zone in early July, and another deal for 51 contiguous claims adding 12.75 km2 in mid July. Not surprisingly they needed a little time to figure out where to prioritize the 5,000m drill program announced on Tuesday.

Source: TRU Precious Metals Corp. website

As you can partially see from the illustration above Golden Rose is a regional-scale land package covering 215 km2, including approximately 45 km of strike length along the deposit-bearing Cape Ray -Valentine Lake structural corridor between Marathon Gold Corp.’s Valentine Gold Project to the northeast, and Matador Mining Ltd.’s Cape Ray Gold Project to the southwest. Historical drill intercepts on TRU’s property include 1.37 g/t Au over 26.3 m, 2.15 g/t Au over 12.6 m, and 19.8 g/t Au over 1.5 m, with visible gold observed. New drilling will focus primarily on target delineation and expansion of known gold mineralization at the Woods Lake Gold Zone and will include a mix of confirmatory/twin holes, infill/delineation holes, and scout holes. The program will also see drilling carried out at the King George IV claims, on which the Company has panned visible gold at the surface, and which has never been previously drilled.

But perhaps the most compelling thing about TRU Precious Metals, right now, is the valuation. At the end of June (their Q2 results), the Company had $6.5 million in cash and no debt. All the properties that were added at Golden Rose cost them approximately $25,000 in cash with the rest of the transactions consisting of shares or future expenditures and the Twilite drilling program was basically complete, so most of that cash should still be available. There are currently 67 million shares outstanding making the market cap $10 million based on yesterday’s closing price of $0.15. That means the market is currently valuing TRU’s 34,000+ hectares (84,000 acres) of land at roughly $3.5 million (after you deduct the value of the cash). Seems to me there is some pretty good leverage here, if there is a good drill result or two.