Gold X Mining Corp. GLDXF

Metals & Mining Industrial Metals & Minerals

Gold X Mining Corp. is a Canadian junior mining company developing the Toroparu Gold Project in Guyana, South America. Gold X has spent more than US$150 million on the Project to date to classify 7.35 million ounces of Measured and Indicated and 3.15 M-oz of Inferred Gold Resources, develop engineering studies for use in a feasibility study, and define a number of exploration targets around Toroparu on its 53,844 hectare (538 km2) 100% owned Upper Puruni Concession.

OTCQX:GLDXF - Post by User

Gold X Mining Corp.

Bullboard Posts

Comment by darter2on Aug 03, 2016 2:58pm

126 Views

Post# 25107356

RE:RE:So what are they doing now???

In actual fact, some or most of the financing back in May is for 2016 drilling:

From the May news release:

"The Company intends to use the proceeds to undertake an exploration program on its Toroparu Gold Project in Guyana, South America, and for general working capital."

“That the Sandspring private placement was oversubscribed underscores the leverage that Sandspring provides to a strengthening gold price,” said Rich Munson, Director and Chief Executive Officer of Sandspring. “Sandspring is now financed well into 2017, including a moderate exploration program in 2016 at the Toroparu Gold Project.”

From the company fact sheet:

"Sandspring’s 2015 exploration program confirmed the continuity of highergrade mineralization at the Sona Hill deposit, 5 km southeast of Toroparu. Sandspring plans to drill an additional 8,000 metres at Sona Hill in 2016 with the objective of establishing a highergrade resource that could improve project economics."

Good luck to all.

Bullboard Posts

These stocks are the top picks for Canadian ETFs