14:31:33 EDT Fri 26 Apr 2024
Enter Symbol
or Name
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Montan Mining Corp
Symbol MNY
Shares Issued 19,653,259
Close 2015-06-29 C$ 0.19
Market Cap C$ 3,734,119
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Taylor says buy Montan Mining

2015-06-29 21:22 ET - In the News

Jay Taylor, in the June 17, 2015, edition of Gold, Energy & Tech Stocks, says buy Montan Mining Corp., recently 18 cents. This is the first time he has recommended the stock. Montan is hoping to become a gold ore processer in Peru. It recently signed a definitive deal to acquire Goldsmith Resources' Mollehuaca milling facility, and mining rights for the nearby Eladium gold mine and Saulito property, in the Chala region of Arequipa state. Mr. Taylor notes that Arequipa is the most active area in Peru for small-scale gold mining. The facility is currently operating at a start-up throughput of 30 tonnes per day, but Montan plans to apply for permits to increase the capacity to 350 tpd. The editor says management will focus on generating cash flow from ore processing first. After that, its longer-term goal is to expand Eladium and Saulito into large gold deposits. Mr. Taylor is picking Montan out of many other juniors trying to succeed on a similar model because its chairman, Luis Zapata, is a native Peruvian. Some of Mr. Zapata's family also runs the largest private ore purchasing business in Peru. The editor cautions investors that the deal has not yet closed, but he is confident enough to recommend the stock now.

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