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Galleon Gold Corp. V.GGO

Alternate Symbol(s):  PNCKF

Galleon Gold is an exploration and development company focused on advancing the West Cache Gold Project, Timmins, Ontario. The Project is approximately 7 km northeast of Pan American Silver’s Timmins West Mine and 14 km southwest of Newmont’s Hollinger Mine. The Company announced a positive Preliminary Economic Assessment in early 2022; permitting and baselines studies have been initiated in support of a bulk sample. Eric Sprott holds approximately 23% of the Company’s outstanding common shares.


TSXV:GGO - Post by User

Post by cookhouseon May 07, 2024 4:06pm
82 Views
Post# 36027455

financial assurance

financial assuranceYou can make all the plans you like, but then you must put your money where your mouth is.

To carry on in advanced exploration, you must file a letter of credit with a recognised bank or post a surety bond with an insurance company.

All I'm saying is that there is a much better chance of Galleon fulfilling this responsibility now that financing has been arranged. Things are looking up.

Here's the Ontario mining sequence requirement site:   https://www.ontario.ca/page/mining-sequence#financial-assurance
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