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KLONDEX MINES LTD. T.KDX

Metals & Mining Industrial Metals & Minerals
"Klondex Mines Ltd is a gold and silver producer engaged in exploration, development, and production of its properties. The company has interests in three mineral properties: the Fire Creek Mine, and the Midas Mine and ore milling facility, both of which are located in the state of Nevada, USA, and the True North Gold Mine (formerly the Rice Lake Mine) and mill in Manitoba, Canada. The revenue of the company is generated from the sale of gold and silver."


TSX:KDX - Post by User

KLONDEX MINES LTD. > Spending on reserves
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Comment by JRafflesUKon Aug 07, 2017 2:15pm
88 Views
Post# 26554026

RE:RE:Spending on reserves

RE:RE:Spending on reservesPerhaps KDX's thinking was that:-
  1. TN was an opportunity to purchase a mine with proven reserves and high value plant from a liquidator.  This was a low cash outlay opportunity which could not be deferred.
  2. Hollister / Graben was purchased with a $5 share issue and therefore the purchase did not add cash pressure. Again, this was a opportunity to take or allow it to be lost forever.
  3. It would take a large cash outflow to drill FC to increase narrow vein reserves to one million ounces.  Also, it may be relevant to bear in mind that Rice Lake had to total NI 43-101 resources exceeding one million ounces when it could not sustain the corporate debt. These resouces are "in the bank" when the POG increases.
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