Welcome to the SearchGold Hub on AGORACOM
Searchgold is dedicated to creating wealth by discovering and mining the earth's resources in an efficient and environmentally responsible manner
Message: A Rough Update
This is some info taken from Searchgold's Interim Filing MD and A from August 30, 2010 on Sedar.
These are excerpts....you should read it all for the whole picture.....I'm just trying to get a handle on the status of various projects, particularly the one's that made RSG famous years ago.
BAKOUDOU-MAGNIMA PROJECT, GABON (GOLD)
SearchGold announced in August 2008, the results of a Feasibility Study on Zone A of the Bakoudou Project which reported an open pit gold reserve of 150,000 ounces of gold included in a new resource estimate of 230,000 ounces of gold.
........These reported figures represent total reserves and resources contained in Zone A owned by Ressources Golden Gram Gabon SARL (“REG”).
.....As of today, SearchGold owns 27% of REG as part of the Managem-SearchGold Joint Venture Agreement.
Latest Developments The Company continues to evaluate various scenarios to maximize its interest in the Bakoudou-Magnima project.
ARAE-GASSEL PROJECT, BURKINA FASO (GOLD) In October 2008, SearchGold entered into an option agreement with Somika SARL (“Somika”) to acquire 100% interest in the 400 km² Arae-Gassel Gold Property (“Arae- Gassel”) located in northern Burkina Faso, West Africa. ........
SearchGold has acquired a 100% interest in Arae-Gassel by meeting the following conditions:...see Sedar ........
Following the first gold pour in December 2009, the project is currently ramping-up production towards a rate of 120,000 ounces per annum by mid-2010.
Latest developments SearchGold announced in Q3 2010 a transaction with Swala Resources plc whereby, Swala will purchase the remaining 60% interest in Arae-Gassel for 4,572,806 common shares of Swala, or 10% of its issued and outstanding capital at the time of the transaction. These shares are being issued at a deemed price of $0.31 each. Under the purchase and sale agreement between the parties, an additional 111,111 common shares of Swala at $0.31 each will be issued in 2010 if Swala completes certain transactions involving the issuance of 1,000,000 of its common shares to third parties. MANDIANA PROJECT, GUINEA (GOLD) SearchGold signed an option agreement in January 2006 with Bouré Gold Fields SARL to acquire a 100% interest in the 475 km² Mandiana Gold Property located in Guinea, West Africa.
Latest developments A ground follow-up campaign was executed in Q3 2010 to verify a few sites on the property.
STELLAR DIAMONDS PLC see news releases....
SearchGold holds 2.7 million shares of Stellar Diamonds plc. Please see: www.stellardiamonds. com for additional information.
SearchGold holds 2.1 million shares of Golden Share Mining Corporation. Please see :
FINANCIAL INFORMATION Net loss for the three- month period ended June 30, 2010 amounts to $73,331 ($0.000 per share) compared to $129,531 ($0.001 per share) for the three- month period ended June 30,2009. Lots more info if you read the whole report on Sedar.
1 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply