Barrydeep
3 years ago
From the company.
Apologies for the delay in responding. We are expecting permit progression with the Leahy property and will update the market when this is in place. However, our main focus is seeking to identify other properties that will deliver value for our shareholders. There is tremendous competition for mining properties -green fields through to operating mines- especially where gold projects are the target! So patience is required – the economics MUST work and a challenge is going to be managing the minimal newsflow which we are aware is frustrating for shareholders.
Our team though has been very successful finding projects in the past – acquiring the Macassa mine for $5m in 2002 and building Kirkland Lake Gold as well as the Pahtavaara project for Rupert Resources in 2016 and we are confident we will find an appropriate property. Brownsfield mines that could be available inexpensively are projects that are thought to be mined out but aren’t or mines with 2-3 operational challenges not just one that we have experience of overcoming, or projects that have been forgotten about -– after all at the start up of Kirkland Lake Gold in 2000-2002 the team looked at more than 100 projects and a few people felt that Macassa was a “mined out” mine.
With regards to the technology we are continuing to identify potential partners for developing the technology, and are awaiting full IP confirmation on some of the patents, at which point this will make them more “saleable”.