Buying Dollars for Pennies
Mundoro Capital announced commencing drilling on their 100% owned Borsko Jezero copper-gold property in Serbia in early July. MUN describes the drilling as scout drilling. This area is covered with overburden and there are no outcrops to sample. The company is targeting three main targets derived from geophysical data. The amount of drilling will depend on results.
Mundoro will not release results hole by hole but will gang them together once they understand the holes. The results should be released by September.
The company has $.36 in cash per share according to their latest financials and surrounds the Bor Mine where Freeport and Reservoir are drilling.
Reservoir Minerals has a JV with Freeport-McMoRan exploration and announced a 291-meter of 7.17% copper equivalent intercept in April. Mundoro’s ground is closer to the Bor Mine than that of Reservoir.
Mundoro is an advertiser. We are biased. Do your own due diligence.