Vatic Ventures Corp. is a junior exploration company that has two developing gold and silver projects: (1) the BM property in British Columbia; and (2) the La Silla and La Silla West properties, in Mexico.
The Company has entered into an option agreement with Minera Meridian Minerales SRL de C.V. for the La Silla claims in Sinaloa, Mexico. The agreement looks promising for Vatic.
According to Seafield Resources’ 2006 resource estimate and our calculations, La Silla has around 327,000 oz of Au equivalent. By our estimates, the cash equivalent of the price of the transaction is $10.65 million or $33 per ounce which we consider a moderate price. Moreover, La Silla’s resource is probably significantly higher than 327,000 oz of Au equivalent. The drilling, on which the 2006 resource estimate is based, covered only 14 of the 31 structures identified on the property.
Read more in the Perspective report here: VaticVentures
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