RE: RE: AGM for Galore Resources Inc.Here are my notes from the AGM today (excuse any errors, notinvestment advice):
Things are looking up. They had wine and food this year!There were about 20 people in the room including directors which made up 9million shares or 20% of the float.
They expect lots of news in the next two months as they willbe releasing assays from the first 6 drill holes in Dos Santos. The reason theyare late is due to technical difficulties. Could not get down past 200 metres andhad to get a second compressor and that one broke also. They finally flew onein from Canada and have hit 348 meters (300M is their sweet spot) Hole 7 isbeing drilled now and these are all high grade areas.
Based on results thus far a professional consulting firm hasrecommended a $3.1 M ground geo and 5KM drill program. GRI would rather waituntil the results of the current assays are out rather than trying to raise newmoney at 10 cents a share. They are in no rush as they know what they have andare conscience of the share structure.
The entire area has similar geology to Canplats and Goldcorpnearby. Photos were shown of similar geology. They were able to stake the landbecause it was before Canplats discovery. The area is one of the hottest goldproperties in Mexico.Octavio, who worked for Goldcorp before recommended the area.
My overall impression: Michaeland others just kept saying the next two months should be good. As soon as I walkedin and said hello. And Michael Byrnehas been a consistant buyer on the open market. Insider buying is a greatsignal. The core group are very tight, excited about the property, and sensitiveabout the share structure. For those who have shares hang in there. For othersseems like a good entry point.
Oh, the BC property Taseko – copper-moly –. Large propertyin a great area but they may need partners to help develop it. The focus seemedto be on Mexicobut this property will be valuable as the market heats up…………….
Please call Erica at IR for any further info or to clarifyany of my messy notes……