RE:GoldquestHello Michael93,
The permit will enable GoldQuest to develop a mine in the DR, and further its exploration of some of the richest rocks in history:
"The drilling in this deposit was the best drilling ever achieved in the Caribbean in history; the best drill hole was 235 metres of 7.9 grams gold and 1.4 per cent copper, and the nice thing about that was, that was true width, that wasn’t just shooting down a vein, that is the width of the deposit. It’s probably one of the largest discoveries by a junior in the last five years anywhere in the world, so we’re very proud of that, or proud of our geologists, who did the actual work."
Bill Fisher, Chairman of the Board, GoldQuest Corporation. "What does a permit do for the price ?" a 500% - 1,000% gain, back to its 2012 ATH over $2 seems a reasonable expectation, especially if the news comes out during a rabid gold bull market....
However there is a very good reason why the stock price is currently on hold and drifting lower, - from a 2016 interview with Fisher: Bill Fisher: Well, we put the mining permit application in last October; my hope is to get sometime this year, hopefully in the middle of the year, the mining permit, and that gives you a 75-year lease, which is very good security in the DR to say the least. Then upon the pre-feasibility study, we’ll translate that into Spanish, and that will be the basis of our environmental application. So the mining license gives you the right to mine there and the environmental permit lets you pour concrete and put up steel. So we’re waiting for the mining permit, and then the environmental permit goes in. The last mine that we built that was a greenfield mine in the DR, it took less than a year to get that permit. So we hope to be looking to be permitted within 2017.
Political shenanegans are a good description of what has delayed the permit for so long.
However the reason some of us diehard GoldQuest investors from 2012 and earlier are
still around is because we believe that long overdue changes to politics in the DR are finally underway. Further we have confidence in management to secure what is rightfully ours.