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GOLDEN HOPE MINES (TSXV:GNH) Confirms High Grade Intersection of 64.1 g/t Au (Gold) over 1m Read More

The screen metallic analysis returned 82 g/t Au for an average grade of 93.5 g/t Au.
Two additional fire assays on the original pulp done prior to the screen metallic analyses returned 0.22 g/t Au and 0.12 g/t Au for an average fire assay grade of 0.41 g/t Au. The weighted average of all the fire assays and screen metallic assays from this 1-metre section in hole BD2011-184 is 64.1 g/t Au.

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Message: Reno Creek

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TheSlowLane

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Reno Creek

posted on Oct 21, 09 08:31AM

According the the announcement on 8/24, Bayswater had 60 days to execute a purchase agreement with Strathmore on Reno Creek, which is this Friday. Yesterday Bayswater announced a positive pre-feasibility on Reno Creek and distribution of the circular on the transaction:

"Copies of the agreements entered into with Strathmore and American are available on SEDAR at www.sedar.com. A formal purchase agreement between Strathmore, American and the Company is expected to be executed shortly and will be filed on SEDAR.

Financing of up to CDN$50 million is required to complete the acquisition of the Reno Creek Project and for related working capital in order to advance the Project pursuant to the production time-line. To raise the needed capital, Bayswater plans to undergo a restructuring, including a consolidation of the Company’s share capital, as disclosed in the information circular. Any consolidation of Bayswater’s share capital will be subject to regulatory and shareholder approval."

I believe that there is a good chance that this deal will get done which will put a new floor under the share price.

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