Topic: How To Invest

Hi Pat: Would you please give me your opinion on the present situation and future of Moneta Porcupine Mines? Thank you.

Article Excerpt

Moneta Porcupine Mines, $0.07, symbol ME on Toronto (Shares outstanding: 193.6 million; Market cap: $13.6 million; www.monetaporcupine.com), owns 100% of five projects along the Destor Porcupine Fault Zone in northern Ontario’s Timmins Camp. The properties have road access and are near mills and power and water sources. A preliminary economic assessment on the Golden Highway project included a gold deposit that could hold as much as 3.8 million ounces in three zones: Windjammer, Southwest and 55. The assessment projects a mine producing an average of 288,000 ounces of gold annually for 12 years. The company’s properties are still in the very early stages, but it does holds cash of $4.7 million. That should let it continue its exploration and development. Moneta shares are down, along with gold prices and most junior gold stocks, but its large gold resource gives it some speculative appeal. Moneta Porcupine is okay to hold, but only for highly aggressive investors. ..