Gold Canyon Resources Inc V.GCU

CC @13:00 EST

[Schill]

Conference Call
A conference call to discuss Gold Canyon and the resource estimate will be held at 1:00 P.M. (EST)
on October 17, 2012. Investors are invited to participate by connecting to the call using one of the
following dial-in numbers:
Date: October 17, 2012
Time: 1:00 P.M. Eastern Standard Time
Dial in Number: Local / International: 416-850-9144 or
North American Toll-Free: 1-866-400-3310

[Schill]

Anyone joining the conference call?

[godisgr81]

It's interesting that our first resource used depth at 300meters and the revised resource is now at 430meters. strip ratio of 2.3:1 isn't that bad, we may do better as more information is obtained. Any over hanging fruit other than the lake, enviromental assessment and the natives?

[gog]

"Any over hanging fruite other than the lake, environmental assessment and the natives?" Are you serious? These are all killers but don't let that stop you from believing those that pump $5 targets! LOL ear Falls is maxed out so where will the power come from? The infrastrucutre is not there, the power line from there to Pickle and Musslewhite is held up with band aids. Think

[Schill]

And therefore they could successful development experts like Fierro get hired as CEO?

[godisgr81]

Well we have seen worse circumstances being sold at good valuations. At least our over hanging fruits can all be resolved. I was told that we have an excellent relationship with the native reserves and environmental assessment can all be permitted following protocol. Also, we do have a solution for the lake via cofferdam. I have seen it work before and it's very effective and economical. Gog

[Chobits]

How can you say the grade sucks when the average for undeveloped mines is 0,66g/t and for producer is 1,06g/t. Also PDG just got bought up two days ago and their grades 0,87g/t (at 0,4 cutoff grade).  And I dont see why you are talking about the funding yet, we still dont even know what the cost for the mine is yet.  And also zero growth world? Does that mean the gold and silver will

[gog]

Facts are facts, the dam would have to go back so far as to effect Cromarty Lake which happens to be the outfall from Birch Lake into Springpole, fast track rediverting this and the pickerel spawning grounds eh? Can't see that. Also, where do you displace world class lake trout from their home which happens to be the part of the lake the deposit is under. Not saying it can't be done but

[godisgr81]

Mr. Gog, you almost sound like you know what your talking about but do you even know what a cofferdam is? Look it up and also study it because if you do it right, the lake can be contained and it's resources diverted safely and it doesn't costs an arm and a leg.  Guys, it's obvious this guy has his reasons for talking down our resource.  To me, this is better than ducking for

[Schill]

No one here from north america who joined the conference call?!

[Schill]

Doesn't matter. They hope to have it up for download within the next 24 hours.

[bailey2]

I listened to it. Basically, the CEO read the news release. 3 analysts asked questions. What I got from it was the fact that 80 per cent of the indicated resource is of high grade and that will give a quick return on capex when the property is developed. Also said that there is still room to expand the resource. no questions were asked about the lake or lake trout etc. From what here-say that I

[OldManWinter]

I would assume if the lake was an issue that it would have been brought forward by now. if is was such an issue, why would permits be issued by the govt saying they could drill around and on the lake? Why would such an experienced management team even waste their time with this deposit if they had any inkling that the deposit could not become a mine?

[Schill]

Correct. Fierro has looked several weeks into the company before deciding to make the CEO. Hennigh also has a lot of reputation to lose.

[Schill]

bailey, thank you. "What I got from it was the fact that 80 per cent of the indicated resource is of high grade and that will give a quick return on capex when the property is developed." So this hasn't changed, excellent. So we know now the poster "gog" has been lying.

[bailey2]

Yeah,  when you listen to the replay he was very quick to point this out referring to how tight the markets are, and how Quick return on Capital is of utmost importance. I think that once all the warrants etc. are all exercised and then if shares sold etc etc by the end of this month it is clear sailing in the warrants, options space for GCU. Again, I do not Believe there are any significant

[gog]

High grade is anything around 1oz per ton. Over the past 5 years all companies have been chasing massive, lower grade deposits, huge intercepts of 2-4gpt which they can flog over strike illusioning a large deposit. This thing is not an easily pitted blog with consistant grades. Half the ore is goo, ask Quinton all mighty how the PEA will accomodate the fact that they'll be fighting water

[scoutaz2003]

GOG   From my discussions with management, there is a high grade area that will become a starter pit for who ever builds the mine. The waste from the starter pit will be used to build the coffer dam.  Which is very cost effective. Once the coffer dam is constructed, the resource is at or just below the bottom of the pond.  So, the economics of removing over burden is lessened

[gog]

5,000,000 X 1,400 = 5 BILLION DOLLARS 5,000,000 X 1750 = 8.75 BILLION DOLLARS 5,000,000 X 2000 = 10 BILLION DOLLARS You've proven my point! Nice math, please tell me you're not a financial analyst! The ounces are a quarter mile down, there is no high grade core, just 5gpt stuff inside 2gpt goo. This might be a "higher grade" section but not HIGH GRADE! Pretend you're the bank

[dino74]

Arogonaut grade in mexico is about 0.45g/t and they have big cashflow, so I feel very confident with Gold Canyon, try and fool someone else, we are plastic enough savvy. We do not need your opinions, we understand that Gold Canyon is not interesting for you, so now you can just move on to another forum.

[godisgr81]

Gog, thank you for your point and what your saying is nothing new and i believe your views are already baked into the price. Thank you and Good bye!!

[gog]

You still haven't answered my question:) Keep pumping and help them on the next financing which will dilute even further. This would have been good if they had produced but they didn't and you can't admit that. Stop pumping and tell me why this is a good buy now and not a huge dissapointment.................nothing has changed since it was first discovered and demmed un mineable

[Schill]

Yes nothing has changed with such a huge increase in the indicated resources. This +5M Oz Au deposit among the biggest 20 in North America now, is worthless, Fierro and Hennigh have no clue and you know already the result of the PEA even before it is written. Good luck with your shorts.

[Geospot]

Yes this is a material change. It's a big number especially in indicated and derisks the project so that a major or mid-tier can come in and pick it up and with compliant resource to show to the board and investors. A big fat resource with a huge share in the indicated category. So look past yesterday and consider this a hidden gem due to the fact that that this management has focused on

[ub4me]

Gog.....you are totally right. You should not buy this stock. You don't seem like you deserve good fortune with your negative attitude and lacking communication skills

[scoutaz2003]

Gog. The deepest open pit mine in the world is 3/4 miles deep and it's a copper mine.    So 1/4 mile deep really isn't an issue.   As long as the pit size, shape and the grade are all economic in a PEA, we are golden.    I think I'll have trout for dinner. 

[gog]

Yummy today, how much you making?

[gog]

Don't tell me about what gets developed and spent, go GCU!https://www.kitsault.com/about_hist.html it's all bankers buddy, nothing more. Pure geos stay in the bush and then do what these guys are. Short it before thay run it up again cause they're gonna need $$$$$$$$$$$

[godisgr81]

Buddy, you got plenty of credibility as you sure know how to pick a winner like BEN. What are you down 40% - 70%. Go back to your hole and do some proper research and get your facts straight.