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Message: Borealis - SGX-GGN Timeline...

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red911

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Re: Borealis - SGX-GGN Timeline...

in response to Borealis - SGX-GGN Timeline... by red911

posted on Apr 01, 10 09:44AM

I notice dates removed from timeline in latest SGX presentation... good or bad? No idea.

red911

- Option Agreement signed
- SRK Consulting engaged –Due Diligence underway
- Private Placement
- Borealis Drilling Program
- Feasibility Study
- Joint Venture
- Start of Construction

Borealis - SGX-GGN Timeline...

posted on Mar 22, 10 08:53AM

There is a new GGN-t-SGX-v joint presentation posted on both companies websites here.

This new presentation contains a lot of info re: Borealis project. Of particular interest in the project timeline presented on Slice 7...

Sage – Gryphon Timetable

- Binding LOI complete; Option Agreement pending
- SRK Consulting – Due Diligence initiated
- Private Placement – April 16, 2010
- Drilling on Borealis – by April 15, 2010
- Feasibility Study
- Joint Venture
- Start of Construction

According to GGN CEO, SGX was brought in to obtain financing and expertise to bring project to production stage. IMO SGX is currently doing a consolidation (March 31 vote) to do just that and has already dislosed they antitipate a PP on April 16th. They do not seem to be wasting time moving this porject ahead. Great to see IMO. Cosntruction of plant in GGN pre-feasibility study estimated to take 20 weeks... mentioned in presentation 9 months to 50K oz/year Au equivalent (including silver) production... If everything goes as planned this could be a very profitable operation... What both companies needed.

Keep up great work.

red911

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