Alexandria Minerals' global resource now 2.12 million GEOs!
Following a 261% increase in inferred gold resources at its flagship Akasaba property in Quebec, Alexandria Minerals now commands a very substantial 2.12 million gold-equivalent ounces in global resources across its Cadillac Break property package.
Here's a little food for thought: Alexandria Minerals has a market cap of less than $15 million for 2.12 million GEOs M&I plus Inferred. Silver Wheaton just handed Vale $1.9 billion for a pair of gold streams that are projected to yield 2.2 million ounces of gold over the next 20 years.
While of course I'm not suggesting that Alexandria's shares deserve a large-cap valuation, it's in the degree of disconnect between the two that makes plain just how undervalued Alexandria's shares are.
Also very impressive is Alexandria's continued low cost of adding new resource ounces:
Eric Owens, President of Alexandria Minerals, said, "We are very pleased with the substantial increase in resources at Akasaba. A major factor influencing the increase was the new discovery of the West Gold‐Copper Zone this past year, a result of our decision to step out significantly and test targets farther afield. In addition to the growth potential this work indicates, it has been incredibly efficient, as the eleven shallow holes that have so‐far defined this zone cost just 47 cents per ounce of gold discovered."