Re: Spoke with EAG Investor Relations today
in response to
by
posted on
May 14, 2014 11:09PM
Windfall Lake Property, located near Val d'Or, Quebec: Indicated 538,000 oz. (10.05 gpt) / Inferred 822,000 oz. (8.76 gpt) (July 2012)
Last week I spoke briefly to Rhylin Bailie, Eagle Hills Investor Relations person, to find out a bit more about the company, their recent drilling program, and when she thought the company might begin production. First off, she was a very pleasant person to speak to, and quite eager to answer all of my questions. Second, I spoke to her between patients, so I wasn’t able to converse with her much.Now, with that being said I won't give everyone on the forum a long and drawn out essay on what we spoke about, but I will give you the highlights; listed below in point form.
·Estimated time to production is between 2-5 years. Somewhat vague, but needless to say a long term investment.
·EAG does have an agreement in place with the local FN; no specifics obtained, nor given.
·Nearest city/town is 100km away, I should have asked which city/town this was but our conversation was so brief I did not get a chance.I suspect she is referring to Lebel-sur-Quevillon
·Roads to Windfall Lake are not paved, but are made of sufficient gravel and other aggregates, and have served the mining industry in the area for years according to Rhylin.
·Presently there are no expected concerns in regard to EA issues, and all water from the site will be treated before release, to avoid contamination to the nearby lakes, land and wildlife.
·Permits for mining will be obtained as needed once the EA concerns are out of the way, and economic feasibility is no longer of issue.
·Extensive drilling of the property is currently underway to further ensure economic feasibility, as well as determine the cost effectiveness of on-site milling versus the simple extraction and trucking of raw ore to milling facilities approx. 100+ km away
·The drilling program is not only being done to further the companies knowledge of existing and undiscovered gold lenses / bodies on the Windfall Lake property, but to also determine the best cost effective approach to mapping the property for an underground system of mines once the extensive drilling data has been analyzed.
·The Windfall Lake property has numerous shallow lakes, so I felt it necessary to ask about any flooding concerns to an established mining network, to which Rhylin replied that this was only of concern if mine shafts did not maintain a regulated distance of 50’ from water sources.
·My comments about the current share price ( 5 cents / share ) appearing to be at a stable low for the company was not met with an initial positive response by Rhylin, who suggested that this would hopefully change once the property is fully explored.I told her that the price was just right for me, since as an early stage investor I should be rewarded for both taking the risk and being patient as the company takes its time de-risking and developing the property.
·Our conversation ended when Rhylin reiterated the fact that EAG has a lot of faith in their find at Windfall Lake, to which I replied that this seems to be quite obvious in view of the recent purchase of claims from Murgor and Cliffs, as well as the private placements being sought after, and the smelting rights being bought back. I left by saying that I will be watching EAG closely, and look forward to investing at the present value with the anticipation of very positive drilling results to come in the near future, and a corresponding rise in their share price.
TM