RE:RE:3D PresentationWhy did Newmont not drill below the mine themselves? that is easy : Gold was $300 when the mine shut down. They got the con mine as an extra bonus in another deal they were after. The Giant mine next door had a huge contamination problem and opening up the con in town was not an option at that time.
Fast forward to today and Newmont does not have the land package to open up a mine outside town. it made sence to combine forces and put a buy back in place if we find enough gold to have Newmont come back in.
Everybody wins. Remember Newmont wanted to keep 40% for them selves without spending any money in the first deal. Gerald went back at them and got us a better deal after two years of negotiation. That is why. So now we are a takeover target or a partner if we find enough gold anywhere on the huge land package.Still a win win