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Goldsource Mines Inc V.GXS

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
Post by AuContraireon Apr 07, 2009 5:17pm
427 Views
Post# 15903210

Kerogen & Chris.

Kerogen & Chris.I think you are underestimating the technical ability of Management on this one.  They know by now the Model or Models they are dealing with.  Those were not random shotgun wildcat holes.  You insult management to think that way.  There is now a tremendous data base.  Were it me ( which it isn't ). I would be doing a quick scoping study right now regarding the economics of extracting this coal to surface in that location and environment.  And then using it at the mine site or selling it.  If it is as hopeless as Chris thinks I wouldn't be doing much more work there. But obviously they have put a lot of thought into this so far and would not have come as far as they have if it actually did look hopeless. If the macro model is telling them they are dealing with discrete deep coal pockets of questionable lateral extent then I'd do the quick scoping study of the economics. If what you have already found does not cut it,  why search to find more ? I am assuming they have already done this and the Project is still a  'Go'.
Bullboard Posts