Golden Hope Mines

I was shareholder of a company with a high-tonnage (very) low grade deposit in Mexico: Canplats Resources (CPQ.V).

They were bought by Goldcorp which is running their near-by Penasquito mine in Zacatecas.

The buy-out price for this early exploration play was C$ 238 M.

Canplats had:

3.44 M oz Au M&I @ 0.65 g/t Au

and 555.000 oz Au Inferred @ 0.56 g/t Au

(all with 0.2 g/t cut-off (!) and with some Ag, Zn, Pb credits).

If we´re lucky here, we will have half that resource @ Timmins zone already, just with TRIPLE the grade.

Half the tonnage would equate to C$ 120 M buy-out = C$ 0.93 per GNH share (fd).

Let alone all the other zones that GNH has identified that need drilling to prove more tonnage.

As I said, just another comparison that shows how undervalued we are !

FANTOMAS