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Goldsource Mines Inc GXSFF


Primary Symbol: 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 08, 2009 4:35pm
353 Views
Post# 15905951

The Bottom Lines still are ...

The Bottom Lines still are ...Will it be feasible and viable to mine that grade of coal at that place in that environment at that depth ? Obviously the Insiders believe the answer is YES. Have they proven that ?  NO. Is the tonnage there ?  YES.  That's the first requisite.  Is the coal of good quality once it is mined and washed ? YES.  Can this coal feed a 'long-life' power generation plant at the site ? YES.  So it all summarizes into if it can be mined cheaply at those depths in those wetlands ?  I think the Sask. Gov. and even the Natives are 'onside'. I think the Peabody miners would pretty well know right now.  However we are not going to get any credibility here on this one until some kind of a deal is made with one of the major coal players.  The upside on the price from here on is going to be a hard struggle until we see a major coming in or some big institutional sustained buying.  This could happen any day however.  Meanwhile I'm holding the shares that I have left.
Bullboard Posts