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AMYZF sitting on a 22 Billion dollar mountain trading at 58 cents!

|Includes: American Manganese Inc. (AMYZF)

   A look at the company’s profile on convinces us further that American Manganese has a winner in its hands. The current NI-43-101 compliant resource estimate of the Artillery Peak Manganese deposit includes an indicated resource of about 92.8 million tonnes grading 3.27% Mn (6.7 billion lbs contain Mn), and an Inferred resource of about 107.2 million tonnes grading 3.76% Mn (8.9 billion lbs contained Mn). Plugging these figures and today’s manganese prices of $1.80/lb into our resource calculators, we get mind-boggling results: the gross project value is about $22 billion, while the gross project value per share is about $255, given the shares outstanding of 87,192,639. Currently, AMY trades at about 58 cents per share.

Equity research firm Laurentian Bank Securities shares our optimism about AMY’s future. On May 6, it assigned American Manganese a price target of $2.90, up from its recent price of just 59 cents.

Currently, American Manganese is undertaking a drilling program of more than 10,000 meters on the property. As of June 7, assays from the first six holes were returned, showing incredible intersects of thick manganese mineralization, including 3.21 per cent Mn over 34.2 meters.