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Goldsource Mines Inc V.GXS

Alternate Symbol(s):  GXSFF

Goldsource Mines Inc. is a Canada-based resource company, which is engaged in exploration activities. The Company is focused on the Eagle Mountain Gold Project (Eagle Mountain) for which it has a 100% interest in the Eagle Mountain Prospecting License (EMPL) and the Kilroy Mining Permit (collectively, the Property). The Property is located approximately seven kilometers (km) south of Mahdia Township (population approximately 3000). Mahdia Township can be accessed by road from Georgetown, a driving distance of approximately 325 km, or via air by a commercial flight. The Property consists of an area of approximately 5,050 hectares (ha) (12,480 acres) in central Guyana, South America. 4,784 hectares (11,820 acres) of the Eagle Mountain Property relate to the EMPL while 266 ha (660 acres) relate to the Medium Scale Mining Permit held by Kilroy Mining Inc. (Kilroy), on which the Company has a long-term lease with a 2% net smelter return royalty.


TSXV:GXS - Post by User

Bullboard Posts
Comment by thinker1951on Mar 16, 2010 12:20am
266 Views
Post# 16886075

RE: RE: pdac

RE: RE: pdacWhy wouldnt they find more coal they are drilling in a coal belt. Thats why they found a 100 m seam. Even if they dont find a big strike this drilling phase they are well financed still and they will establish a large resource that I believe will be mined. Its a good grade of coal, close to infrastructure and they are customers who need a steady supply of coal to keep the lights burning. They still have about 6 million according to their last quarters report. They only have 20 million shares out and should be able to do more equity financing for future drilling to establish a mineable resource. Patience is needed here I think.
Bullboard Posts