21:35:54 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



TriMetals Mining Inc
Symbol TMI
Shares Issued 135,738,714
Close 2015-09-30 C$ 0.065
Market Cap C$ 8,823,016
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Lundin says hold TriMetals

2015-10-02 21:38 ET - In the News

Brien Lundin, in the September, 2015, edition of the Gold Newsletter, says hold TriMetals Mining Inc., recently seven cents. Mr. Lundin said buy three times between March, 2011, and May, 2012, at prices ranging from $1.59 to $2.20. He then said sell in November, 2012, at 25 cents. Assuming a $1,000 investment for each of the three buys, selling the $3,000 position at 25 cents yielded a loss of $2,624. Mr. Lundin said buy two more times -- in March, 2014, at 31 cents and in September, 2014, at 18 cents. Assuming a $1,000 investment for each of the two new buys, the $2,000 position is now worth $614. The company recently updated its preliminary economic assessment on its Gold Springs gold-silver project, located along the Nevada-Utah border. Mr. Lundin says that based on a low strip ratio and a scalable, heap leach/open-pit operating model, the assessment gives Gold Springs a pretax internal rate of return of 49.9 per cent and a pretax net present value, discounted at 5 per cent, of $137.4-million. The property's payback period would be 3.1 years and a life-of-mine production would be 428,000 ounces of gold plus 4.9 million ounces of silver. The editor says Gold Springs is unlikely to receive approval in the current market, but his belief that gold will go higher justifies a hold.

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