Miranda Gold (MAD.V): Bordering Barrick (ABX) On Cortez Trend
It is known that Barrick Gold fired its CEO and old timer Peter Munk took over. The gist of his decision is based on his contention that the big miners are faced with depleting reserves and resource nationalism. This may explain their recent decision to invest $64 million into exploring the Cortez Trend right here in mining friendly Nevada.
Interestingly, one of our recommendations next door to Barrick is Miranda Gold. They may possess the most significant drill intercept outside of Barrick on the Cortez Trend at their Red Hill Project which is contiguous with Barrick’s major 2011 Red Hill discovery of over 5 million ounces of gold.
Munk is on record saying high grade deposits are becoming difficult to find. Miranda may fill the bill if one of their nine ongoing projects hits pay dirt. Watch a recent video with legendary precious metals investors Brent Cook, Adrian Day and Rick Rule describing why they like Miranda Gold’s prospect generator business model.