RE:RE:RE:RE:Whats the deal herebrutus2005 wrote: shawshank2 wrote: Getting a mine approved takes a lonnnng time and lots of money. And the biggest barrier is first nation cooperation
Perhaps, but the fact the Yukon was willing to put up $240K of funding for exploration and pre-development work, tells me they support this project and have the company's back at this stage.
Although the money is good it doesnt work like that. The majority 200k or so was for the road to be built which will benefit the reserve as well. 40k is for exploration. The drilling results were a mixed bag as some holes didnt yield any minerals so there will still be alot of drilling needed to see if mining is worth while. Also to get a mine approved can take many years and often a prefeasibility study. If any environemntal issued are brought up it could take years longer. Finally first nations can also add a whole complicated dynamic. One chief may have support but if a new one is elected all of a sudden you could have a roadblock one day. They will want a cut as well so who knows. This is still trading fairly high for the many risks ahead almodt double the recent private placement. Still many seasons of drilling are needed to see if the property is worth anything