Columbus Gold Corp CGTFF

In fill drilling at FG??

[123buyholdhope]

According to the most recent news from CBGDF and FG: 

"The project’s Environmental and Social Impact Study will be delivered in Q1 2018, following the completion of a supplementary in-fill geotechnical drilling program currently underway."

I am no miner and may be totally off the mark here but I connect "...in-fill...drilling program" with trying to increase ozs re P&P or resource. If this is correct then this is news that as far as I am aware was not shared with us and NG as the major miner/holder after the BFS must have been given the go ahead for this drilling.

If they want to buy out CBGDF why would they potentially give us more reserve or resource numbers? I think the banks already had enough ozs to make loans probable. Or, is NG looking to sell out jointly with CBGDF without taking CBGDF out themselves first? Either this intriguing or I am totally misunderstnading the news language.

[BullStockington]

Unless infill drilling in the context of an envirionmental study means something totally different, its definitely interesting.  Another possibility is that NG plans on making an offer to take us out after the spin-off prior to the completion of the drilling program, when our SP is at the lowest before any other permitting catalysts are achieved, and they went ahead with the drilling program

[123buyholdhope]

You could well be right but I hope not from the perspective of a long term holder. Again, what interests me is that CBGDF shareholders were not informed of this infill drilling in FG. This suggests to me that it was 1) clearly initiated by NG as the majority owner of the potential mine and 2) as a private company (I believe at least 98% held) NG were not required to inform publicly shareholders

[BullStockington]

Absolutely agree from the perspective of us long-term shareholders, the scenarios you outlined would come with a much bigger payoff. My fear is a hostile takeover offer like you described, given I suspect us long term outlook shareholders are outnumbered. I agree with your point that a hostile takeover would be  a very risky move by the Russians given the reputational risk and timing with

[ukermann]

I think this phantom JV knows for their own individual reasons that together they will never build out this mine as partners. If so, they both stand to gain by adding more ounces as time ticks by as it goes through the various hoops that it must travel. A senior with time and a macro view of the pit, the unexplored concession, and now neighboring properties with potential, has emerged in the area

[golfpokerpool]

imagine owning 45 % of a 225,000 ounce production a year, for a 10 year period. this is worth a lot of money.... I do not know enough about the Russian co. that is our co owner. but, if they are encouraging beefing up the resource, then their plan is most probably to spin off the property. aimho.