Loading ...RMK
Stumbled up this :
The deposit is MASSIVE and HIGH GRADE—it has a valid 43-101 resource estimate that’s more than 900 million tons of 95% NaCl. At $50/ton, it’s an incredible cash cow that will attract not just retail and institutional investors, but strategic industry players.
What major mineral producer would not want a 50+ year cash flow–and from a Canadian asset, no less—right on tidewater and with a local port that is already shipping gypsum from Red Moon.
In fact, Red Moon’s gypsum production has made it cash flow positive for the last three quarters.
I honestly could not make this up if I tried! It’s one of the best set-ups I have ever seen.
There is a $350 million market opportunity for salt in North America—the US imports 7 million tons of salt a year, and it’s worth $50/ton.
It comes from SO FAR AWAY—mostly Egypt and Chile.
Great find Highroller. It looks like they are a subsidiary of Vulcan Materials. Not sure how much is publically floated and what percent Vulcan owns?
Labrador gold keeps knocking on the resistance door. Lots of action on the east coast.
From Vulcan Press Release — “The Company also reports that its subsidiary Red Moon Resources Inc. has
announced that it is carrying out a private placement to raise up to $3.5 million
dollars. The funds will be used to complete a feasibility study on its salt deposit in
western Newfoundland and for working capital. The Company owns approximately
50% of the outstanding shares of Red Moon, a company focussed on the
development of industrial minerals in Newfoundland and Labrador.
https://vulcanminerals.ca/vulcan-minerals-inc-commences-airborne-vtem-geophysical-survey-on-its-newfoundland-nickel-copper-and-gold-project/
Also Vulcan appears to have ~85M shares outstanding and trades @ $.16
Newfy Salt ?
Could be marketed as Rock Salt or Salt on the Rocks
🙂