Mary K Gold Mine of Bond Resources Produced 2000 tons of 0.65 Oz Au

Source: Bob Moriarty for Streetwise Reports


Bob Moriarty of 321gold discusses a company that is reopening an Idaho gold mine that closed during World War 2.

In 1942 with the US involved in a massive war with Japan and Germany the government made the decision to close all non-essential gold mines under the auspices of the War Production Board. It was called the Limitation Order #208. Hundreds of mines closed down. Many never reopened after the war ended. They all were in operation and making money when the government shut them down in the fall of 1942.

The Mary K Gold Mine in Idaho was one. A new barely listed company named Bond Resources Inc. (BJB:CSE) did a deal on the project calling for a total payment for the 450 square acre property of $10 million. The way they structured the deal was that Bond Resources pays the remaining owed $9.5 million out of profits depending on the grade of the material actually processed.

Bond took a 500-pound sample from the vein system at surface that showed a 0.79-ounce per ton gold grade. Another 23-kilo sample was taken also from surface that they ran a split through a fire assay. It came back with 44.32 g/t Au and 16.7 g/t Ag. It’s a high-grade gold mine with reported production of 2,000 tons of 0.65 oz. per ton from 1908 until 1942 when the owner had a heart attack. There has been no drilling or modern exploration work done at the mine.

Historic reports suggest there was a high-grade gold shoot located 23 feet beneath the #4 level of between 11.02 and 59.12 ounces per ton gold but the owner died before he could mine it.

While there is great opportunity, there are warts. Because the shares just came free trading, there is no US symbol yet. Since the stock is so tightly held, you have to make an appointment three months in advance to buy shares in the open market.

While $10 million sounds like a lot of money to pay for a mine, it comes out of free cash flow, not in advance. The money the company raised recently will go to pay the down payment on the land and begin a drill program of 14 holes for 1,667 meters of core drilling. Drilling commenced in June and results should be released by August or so. The company is testing the glory hole recorded in the history and the results could be barn burning.

Because the company comes with no baggage it is free to move forward at lightning speed. Management is especially strong. The goal for production a year from now is 150 TPD. Work has commenced on rehabilitation of the main level.

I liked the story enough when I was told about the project to invest in the PP. If the shares came down a bit I would be prepared to invest more. I see this as an interesting speculation. Bond is an advertiser. Do your own due diligence.

Bond Resources
BJB-C $0.37 (Jul 09, 2020)
78.6 million shares
Bond Resources website

Bob Moriarty
President: 321gold

Bob Moriarty founded, with his late wife, Barbara Moriarty, more than 16 years ago. They later added to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.

Sign up for our FREE newsletter at:

1) Bob Moriarty: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Bond Resources. Bond Resources is an advertiser on 321 Gold. I determined which companies would be included in this article based on my research and understanding of the sector.
2) The following companies mentioned are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

( Companies Mentioned: BJB:CSE,

About The Author

error: Content is protected !!