Significant gold resource - Excellent infrastructure

Camino Rojo Mexico : In-situ - 4.0 million ounces gold; 68.32 million ounces of silver.

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Message: didn't expect this

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didn't expect this

posted on Nov 17, 09 09:48PM

I didn't even know an offer had been made. I had put it on snooze and figured we would eventually get around to more drilling as gold went up so I was a little shocked to find we were in play as I was focusing on the ROF plays.

To me $238 million seems pretty thin for the nature and location of the deposit. Easy and cheap to mine and the area is well understood by Goldcorp. I would have thought they could do a lot better to start then this. That said it signals the other gold companies to get moving if they are interested.

The termination fee is a no issue. 7 million is about 3% of the acquistion fee and if someone isn't stepping up with way more then that Goldcorp will get it. If we vote it down the termination fee is a non issue so ignore it for now.

At least I'll stay awake for the next little while.

... Been There

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