Re: I got some
in response to
by
posted on
Jan 20, 2010 04:17PM
A history of successful gold exploration
Paul I am trusting it's good for both of us and all of the shareholders. Activity on this property is heating up. The basic goal is to get recognition for the ounces in the Gil in connection with a follow-up Kinross offer. There is no doubt they would like to have it - Kinross knows exactly how they would use it. They would make very profitable use of the Gil - hundred of millions of dollars could be netted from it. Talked to key geos involved and in the area (big mining shows in Vancouver this week - Alaska booth especially good, friendly, knowledgeable) and it's just a matter of Teryl doing the necessary work. Also likely a 2010 drill program will be proposed, even if another offer comes in, and choosing the right holes to maximize discovery in the new zones is key, rather than just infill drilling that will help pit design but doesn't delineate all the newer zones. I have heard from a lot of investors in this and the general feeling is that Teryl will do best bringing some numerical gravitas to this as Kinross is no slouch in that department.
By the way, don't hesitate to call the President John Robertson at 604 278 5996, extension 2. He doesn't bite and is happy to keep investors well informed. Your useful input may be helpful in this critical year.
By the way, covered a lot of ground at the Cambridge Vancouver show as well as the Roundhouse & Core Shack (the latter continues til tomorrow). There is growing awareness of this property and the others in the area (Freegold, Intl Tower Hill). The Gil and Fort Knox is in the Tintina belt swinging all the way from BC through the Yukon and all across Alaska. The Yukon Tintina end is very underexplored but now red hot with a host of companies making very good finds. Another mid-tier company I had talked to is acquiring in Alaska and was aware of the Gil and had walked all the properties in the area; I will send them data soon.
Also talked to some of the key guys who negotiated the sale of the True North pit at Fort Knox to Kinross in 1999. That was the predecessor satellite pit (around the Fort Knox pit itself) to the Gil, with the development of the heap leach getting in the way in the meantime (now built and pouring gold). So the Gil is logically next. The key negotiators for the True North supported the impetus to solidify the technicals on the Gil so that we have as much moxie as Kinross at the negotiating table. That said, Kinross locally remains very friendly and we can likely bring this cooperatively off to a good finish.
Best of luck to all of us - thanks for your support Paul.