I had forgotten about this jr explorer. It was on my radar a year ago but had slid by the wayside due to Aurcana and Silvermex.
Interesting that without production it has a higher SP vs. Aurcana. They came out with drill results that are similar to Aurcana. Located in Arizona (stable mining district) with a mgmt. team of somewhat proven history:
TORONTO , Aug. 9, 2012 /CNW/ - Wildcat Silver Corporation (WS.TO) ("Wildcat" or "the Company") is pleased to announce a further increase to the total mineral resource for its Hermosa project located in Santa Cruz , Arizona. The Company has also upgraded a significant portion of its indicated resource into the measured category. The updated mineral resource estimate includes:
•Measured and Indicated resource of 194 million tonnes of 37.7 g/t silver for 236 million oz of silver
•Inferred resource of 80 million tonnes of 30.9 g/t silver for 79 million ounces of silver
"The drill program completed earlier this year has resulted in the global Hermosa mineral resource increasing once again and is now approximately 2.5 times larger than the previous 2010 resource used in the prior preliminary economic assessment," commented Don Taylor , Wildcat's President and Chief Operating Officer. "We are also pleased that we were able to upgrade a significant portion of the resource into the measured category, which comprises more than 40% of the total resource. We are currently focused on incorporating this resource into a revised preliminary economic assessment which we plan to complete by the end of this quarter."
This mineral resource estimate is effective as of August 9, 2012 and includes drill and assay data up to March 2012 which contains all 212 holes (55,700 metres) completed in the most recent 2011/2012 drill program. A summary of the total resource is provided below and is reported on a 100% basis.
PEA notes about $380M in 2010 dolloars to bring to production. I think in this eco climate that amount will be greater. With these reserves and Coeur on the hunt for new reserves it could be a takeout of fast food.
Not advocating a position....just noting the historical similarities in SP and the fact that while Aurcana is a producer with considerable future cash flow, Wildcat has a higher share price, somewhat larger reserves and of course, a much lower float.
As an aside I caught one the Fast Money CNBC fellows saying that the market is looking for stocks with cash flow!!??!!.. Ok....the Fed has just created an open bond purchase program with no set limit, time or fiscal.
Rogoff and Reinhart with a John Taylor kicker anyone.