Emerita Resources wins Paymogo mining rights to now go full blast developing a best-in-class zinc project in Spain
In late June, Emerita Resources Corp. announced to be the winning bidder of a public tender for the Paymogo mining rights in the Huelva Province of south-western Spain. That was the starting shot for its share price to rise sharply from less than 10 cents to now 34 cents in Canada. With a current market capitalization of $29 million, investors are betting that the Paymogo Project offers potential to become a company-maker.
Most of the time, acquiring a high-grade and large-scale mine development project in a logistically favorable and mining-friendly jurisdiction is a highly expensive venture in terms of cash and/or equity payments to the vendors.
Emerita “acquired“ the Paymogo Project through a public tender process from the provincial government with no cash or equity payments, and no underlying royalties. Winning a tender for such a compelling development project is a rare event in the mining space, especially for juniors.
Emerita Resources is a capital pool company engaged in identifying and evaluating of assets or a business.
Rockstone is a research house specialized in the analysis and valuation of capital markets and publicly listed companies. The focus is set on exploration, development and production of resource deposits as well as marcoeconomic analysis of commodity and currency markets. Our international team of five analysts bring our German and English speaking readership a wealth of experience from the commodity markets: Stephan Bogner (mining analyst), John P. Barry (professional geologist), Chris Berry (macroeconomist), Prof. Dr. Hans Bocker (award-winning book author), and Boris Gerjovic (fundamental analyst).
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