Avrupa Gold Results in Kosovo
Avrupa Minerals (AVU-V) operates as a project generating company in Portugal, Germany and Kosovo with nine exploration projects and two pending. The company has joint ventures with four funding partners including Lowell Copper and Antofagasta Minerals.
A joint venture with Australian contract miner Byrnecut International out of Perth announced more outstanding drill results from their Slivovo gold prospect in Kosovo. These results included 24 meters of 11.59 g/t gold in hole 25, 31 meters of 3.92 g/t gold in hole 26 and 97 meters of 7.94 g/t gold in hole 27.
Byrnecut is funding an additional 1 million Euros for this phase of drilling that included 46 holes with results released for 27 holes so far. There will be more results released over the next month to six weeks with an initial 43-101 resource projected for Mid-Q4 2015.
Byrnecut has completed an earn-in for 51% of the project with spending their initial one million Euros. They will earn another 24% with the 2nd one million Euros and an additional 10% if they can complete a pre-feasibility study by April 10th of 2017.
Based on the initial drill results released in mid-December of 2014, the shares of AVU ran from $.20 to $.40 before returning back to the bargain bin in early August of 2015 at a tiny $.07. With just over 55 million shares outstanding at present, Avrupa has a current market cap of only $6 million.
The Slivovo gold project has the most interesting assay results but both Antofagasta Minerals and Lowell Copper are first-rate companies, not Vancouver exploration scams. You would think the market would value Avrupa at a higher price.
In any case, the general stock market seems to be tanking and gold is starting to wake up from a four year sleep. I suspect that in the future prospect generators with excellent projects and outstanding drill results will be valued much higher than AVU is at present.
I am an investor in Avrupa and I am biased. They are advertisers. Please read their press releases and do your own due diligence.