Interview incl. LEXAM
interview Forbes
Question: Can you give us an update on Lexam VG Gold Corp where you own a sizeable stake?
Answer: Lexam is an exploration company with properties in Timmins, Canada and in Southwest Colorado. Historically, Timmins has been the largest source of gold production in the country. Lexam’s properties host and adjoin some of the larger past and current gold producing mines. To date, Lexam has outlined gold resources in excess of two million ounces. An economic assessment of the viability of mining these resources by open pit methods is under-way. The results will be available later this year.
The property in Colorado, is large and has several former gold mines. During our exploration for gold Lexam struck oil, 27 of our 42 drill holes hit gold. It is a shale oil and gas target awaiting to be drilled. State permits to drill have been granted over the years but always blocked by legal actions by environmental groups. Lexam has a good cash position, no debt and looking for opportunities in this market.