GREY:RDEMF - Post by User
Comment by
wiseyoungmanon Nov 24, 2016 5:29pm
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Post# 25510891
RE:RE:RE:???
RE:RE:RE:???Dear Ike,
I agree with you that for Minesa to get a environmental permit is likely to be a lengthy process. They are planning a major mine and using SNC Lavalin just supports that. In today's mining world, it takes an average of 19 years from initial discovery to the completion of a mine [assuming it is economical to build one and most deposits are not. A few decades ago this period was an average of 7 years but today getting a social license is as valuable as the actual resource. For Minesa it has been almost 8 since Ventana first published their 43-101. I agree, I think things will move slow considering the sensitivity in the region of Colombia. But it will eventually be permitted.
EOM is also someday to have its deposit mined to some extent but that is way on the back burner and is effectively a satellite deposit which won't be mined for perhaps a decade. Long after the legal arbritration with the government is over. No one is going to touch this Company since it has a terrible [not deserved in recent years] reputation in Colombia going back to the Greystar days. That is why its market cap is only about $30M.
Continental Gold is another example in which an environmental permit takes a lot lot longer.. They seem to be moving on the right track. I think it will be permitted in early 2017. I have no stake in that company but it is a big super high grade deposit.
If I was a betting man, and I am, I would not be surprised to see a mid tier producer take a run at Red Eagle for its San Ramon mine and adjacent targets. Once management drills out more reserves and is into commercial production. My bet. Is that current management takes CB Gold as a spin out to do it all over again. A spin out for us R shareholders.
One thing to mention, is that CB Golds Vetas property is also adjacent to Minesa's Vetas proprerty [Minesa also has a property in Vetas]. Vetas ore to supply Minesa mine. Yes anything is possible in a few years down the road.
Happy Thanksgiving to my American friends. I remember what a huge holiday season this is going back to my days of living in the US and that nasty airport traffic.
GLTA