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RED EAGLE EXPLORATION LIMITED V.XR

"Red Eagle Exploration Ltd is engaged in the exploration, development and permitting of mineral properties. It owns the California Gold, Vetas Gold and Santa Ana Silver projects."


TSXV:XR - Post by User

Comment by mbrazzoon Jan 21, 2014 10:41am
257 Views
Post# 22115349

RE:RE:RE:LOOKING GOOD

RE:RE:RE:LOOKING GOODI agree that 5m oz is out of the question. CB veins do not have much grade consistency so it could be super high grade for 1-2m and then minimum/no grade for the next 50m. This means they have to do much more drilling to add up oz. That CB eventually might get to 5m oz yes, but that is years down the road as they have no cash to keep drilling. My guess would be somewhere around 1m oz (cannacord estimated a while ago 0.9m oz). I believe the smart move would be to try to move to production as fast as possible, this should be a low CAPEX project for a 50k oz / yr mine. Let's see what mgmt. does after 43-101: a) they sit still burning minimum cash while waiting for bear mkt to turn around (1-2+ more years) or b) they move to PEA and try to raise money to produce or c) we get lucky and a bigger company buy us to consolidate the area (this will definitely won't happen until Colombian gvmt defines Paramo and we get our 43-101). GLTA. Mark
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