EDITOR: | November 26th, 2019

MI3 Market Alert: Largest Copper-Gold discovery in the World

| November 26, 2019 | No Comments
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Mario Drolet President of MI3 Communications Financières Inc. (MI3) released a technical note at market open today on Cornerstone Capital Resources Inc. (TSXV: CGP) for exclusive distribution on InvestorIntel. In this note, MI3 highlighted the following points on Cornerstone Capital Resources Inc.

  • Cornerstone has a diversified portfolio of gold, silver and copper projects in Ecuador and Chile, including a 15% interest in the exciting Cascabel copper-gold discovery in Ecuador financed through to a bankable feasibility study, and a joint venture with Ecuadorian state mining company ENAMI EP where we are exploring 9 highly prospective concessions in the vicinity of Cascabel.
  • Strategic positioning of Cornerstone’s direct and indirect stake of ~23% is extremely valuable and larger than both BHP and Newcrest’s stakes in Cascabel
  • BHP agrees to invest a further US$22M in SolGold (Cornerstone joint venture partner and project operator) to increase its position to approximately 14.7% of SolGold’s diluted share capital.
  • Support: S2; $1.96   S1; $2.16       Resistance:   R1; $ 2.35  R2; $2.70

About Cornerstone Capital Resources Inc.:

Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Cornerstone has a 22.8% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel, plus (ii) an indirect interest comprised of 9.2% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA.

PLEASE DO YOUR DUE DILIGENCE

Disclaimer: This MI3 Technical Note produced by MI³ Communications Financières is neither an offer to sell, nor the solicitation of an offer to buy any of the securities discussed therein. The information contained is prepared by MI3, emanating from sources deemed to be reliable. MI3 Communications Financières makes no representations or warranties with respect to the accuracy, correctness or completeness of such information. MI³ Communications Financières accepts no liability whatsoever for any loss arising from the use of the information contained therein. Please take note that for compliance purposes, all directors, consultants or employees of MI3 Communications Financières are prohibited from trading the securities of the company and MI3 Communications Financières is a shareholder and do not intend to sell any shares during the distribution of this note.

 


Mario Drolet

Editor:

Mario has over 25 years in financial market and he is passionate about Finance. He worked on the floor of the Montreal Exchange on his ... <Read more about Mario Drolet>


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