Continental Minerals Buy Recommendation
March 12, 2010 By Leave a Comment
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March 12, 2010 07:00 AM
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BI Research has been around for decades. KMK management has forwarded me this comment by BI Research on KMK.
Continental Minerals, which I believe is a juicy takeover target, is located in Tibetan China and has proven up 220 million tons of measured and indicated reserves in its high grade-porphyry copper-gold Xietongmen deposit grading 0.43% copper and 3.9 grams of gold per ton. This translates into 2 billion pounds of copper and 4.3 million ounces of gold. A final application for mining license approval has been submitted. In addition the Company’s Newtongmen deposit, a couple thousand feet away and drilled off more recently, sports another 2.8 billion tons of copper and 2.3 million ounces of *gold plus 11 million ounces of silver. I have repeatedly made the case for Continenta...