Publicly traded Gold Mining Company looking for expansion capital
The property is showing proven/probable surface and underground gold reserves of 224,775 tons with an average tenor of .45 oz/ton (Worth approximately $95 million at today’s prices).
Significant opportunities have come to the surface as a result of gold selling at a 25 year high. Today, we introduce you to one such opportunity that has come about as a result of the acquisition of a sizable piece of property with an extensive history of producing gold. This publicly traded company secured the leases to several gold properties which were shut down over 30 years ago as a result of gold trading at its lows. The properties past workings and outcrop exposures confirms that the current workings consist of surface pits and two caved adits. In addition, recent trenching and drilling has partially delineated and confirmed the presence of significant ore reserves. Significant profits have been calculated with an $800 per ounce pricing of gold.
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The most prominent hedge fund in the gold market is Paulson & Co, which is renowned for correctly calling the collapse of the US subprime housing market.
Gold is their largest single position. In fact, to get an idea of how big there $3.4bn stake in the SPDR Gold Trust is (This is a listed US instrument backed by physical gold), the investment equates to a greater tonnage of the metal than Australia holds.
Why is gold continuing to go up, despite the economy hurting so badly:
Gold prices continue to climb during the worst of times, which makes no sense until you look at what is happening around the world. Demand for gold currently runs at a 50% higher rate than what is being mined and this really has nothing to do with jewelry sales. As the concern about the United States health and the continued decline of the dollar, large institutions and countries have been loading up as a hedge against much worse times ahead. Gold is considered a safe haven and in economic uncertainty, gold is considered a safe haven.
Facts on the featured Company:
- Data confirms between 2 -3 million tons of low grade gold bearing ore suitable for surface mining
- 5 Unpatented Mining Claims
- 11 hole drilling program done by Kennecott Exploration
- Proven/Probable surface and underground gold reserves of 224,775 tons with an average tenor of .49 oz/ton
- Property is accessible 12 months a year.
- Company has reduced its overall debt in the past year from $2.800,000+ to less than $1,600,000.
Phase One: Currently underway and will cost approximately $500,000 and is expected to last 3-6 months. The objective of phase one is as follows: complete all sampling, field and laboratory testing of underground (where possible without permit) and surface, begin high-grade operation in order to initiate limited gold extraction which will start the revenue stream; apply for and obtain limited disturbance permit; complete National Instrument 43-101; establish mining plan; apply for and obtain final commercial mining permit and reclamation bond.
Phase Two: Cost is expected to cost approximately $1,500,000 (i.e.: grizzles, trommels, sleuths, generators, excavators, security, ect…); and should take between 3-6 months from commercial permit. Phase Two’s objective is to establish full commercial mining operation.
The completion of a 43-101 engineering report on the Company controlled leases, including some additional geology and a mining feasibility study is expected shortly.
Future Projects: At this time, several additional projects are being evaluated and considered.
Management: All upper management personnel have significant backgrounds either in the mining sector or with growing business. Management reads like a who’s who and biographies are available upon request.
Opportunity: The company is seeking $500,000 in bridge financing and an additional $1,500,000 in long term financing to establish the company as a full commercial mining operation. We have quite a bit of material we can send to you, so please email or call me for additional information or any questions that you have and we will have the company respond to you immediately.
