Int'l Speculator says buy American Pacific Mining

2020-07-06 21:10 ET - In the News

The International Speculator, in its June 24, 2020, issue, says buy gold-copper play American Pacific Mining Corp. at 32 cents. This is the newsletter's first buy of the stock. The writer says that American Pacific is run by a group of mining and finance professionals. Warwick Smith, the chief executive officer, has a long history in mining and helped pioneer the successful prospect-generator model. Unlike most prospect generators that work on early stage greenfield projects, American Pacific is on to more advanced assets, focusing on past-producing U.S. mines.

The Madison gold project in Montana is the principal asset. The project came with a financing partner already attached -- Rio Tinto PLC -- through a deal with the previous owners. Rio has an option to get up to 70 per cent of Madison by spending $30-million over 11 years. In the past year, Rio spent $2-million on the project. The results of this program will be released soon. That should include results from drilling as well as surface sampling. This will provide a better understanding of the project and its potential, and could help American Pacific's stock move higher. The writer calls American Pacific a "cheap bet with strong upside potential." © 2020 Canjex Publishing Ltd. All rights reserved.

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