MI3 Tech Note on Cornerstone Capital Resources Inc. (TSXV: CGP)
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 Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile.
- Only 32M shares outstanding
- CGP own 15% Interest in the Alpala Deposit & almost 9% of SolGold shares own own the other 85% of what is consider to be the biggest Copper-Gold discovery on the planet
- Alpala deposit updated Mineral Resource Estimate # 3 (MRE#3) reports 2,663 Mt @ 0.53% copper equivalent (CuEq) (containing 9.9 Mt Cu, 21.7 Moz Au, and 92.2 Moz Ag) in the Measured plus Indicated categories, at a 0.21 CuEq cut-off grade.
- GCP trending higher … RSI at 75 … moving in tandem with Copper price $2.41lbs
- Support: S2; $3.00 S1; $3.50 Resistance: R1; $3.75 R2; $4.05
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Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including a 22.2% interest in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador, composed of a 15% direct equity interest in Exploraciones Novomining S.A. (“ENSA), the Ecuadorian company that holds title to the Cascabel concession, financed by joint venture partner and project operator SolGold Plc through to completion of a feasibility study and repayable at Libor plus 2% out of 90% of Cornerstone’s 15% share of earnings or dividends from an operation at Cascabel, plus 8.5% of the shares of SolGold.
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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 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>