TMBXF
shares look poised for a potential range breakout above the $3 level. The stock isn't all that liquid, but the company is a gold miner that just got full permits in place to mine at Bonanza, where tests suggest as many as 50k oz (or about $85M) there for the taking.
TMBXF (Tombstone Exploration Corp.) engages in the exploration, development, and production of mineral properties in the United States. The company explores for silver and gold, as well as base minerals, including copper, lead, and zinc.
It holds mineral rights in the Tombstone property, which covers an area of approximately 640 acres located in the Tombstone Mining district, Cochise County; and BLM lode claims comprising approximately 400 acres, including the Stardust Mine located in the Eagletail Mining district, Yuma County, Arizona.
Tombstone also partnered with Bahamas Aggregates, a California corporation with operations in Freeport, Grand Bahama Island for the Bahamas Lime Rock Project. Their operation currently produces 100-120k tons of materials per month for customers in the Bahamas and United States.
But the most significant interest driving value for the company’s shareholders at present is its Bonanza project. The company has partnered with Goldrock Resources Inc. to form a joint venture known as Bonanza Mining Company, with contractual rights to the Bonanza Mine property, which includes the Harquahala and Golden Eagle mines, located approximately eight miles south of Salome, Arizona, and could be worth as much as $87 million in coming gold sales given current market pricing for gold.
Key Points:
• TMBXF is about to start full production activity at the Harquahala Mine, which holds up to 50k oz of gold
• TMBXF all-in cost of developing Bonanza project around $3.5M, with potential to produce nearly $90M
• TMBXF has a small trading float of less than 1M shares, which suggests the stock could launch higher on any additional influx of interest
• TMBXF just received the final necessary permit at the Bonanza project
• TMBXF shares are coiled up under a potential major breakout level with no resistance in sight
• coming off an RSI trough under 40, pointing to a massively oversold stock now heading back the other way.
Nothing in life (or markets) is guaranteed. And you need to do your own due diligence. But, from what we can tell, as long as the test leaching was remotely representative, a market cap just over $20 million for TMBXF is extremely cheap given that most of the uncertainties have already been taken out of its Bonanza project.
The last step to get past was the APP permission from ADEQ. That is now out of the way.