GREY:ADAIF - Post by User
Comment by
YeOldGoldNuggeton Oct 23, 2009 3:18pm
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Post# 16418531
RE: ScoZinc Mill
RE: ScoZinc MillI emailed them a while ago about the reopening issue, here's what mr Coughlan told me.
The price for zinc needs to be at .95range for a month or so for us to decide to reopen. We would need to raise somecapital to do this. Probably debt. We are working on the reopening plan as wespeak. The main focus for Acadian will be to develop the gold projects as fastas we can. We are in the middle of negotiating land access at Fifteen mile andif all goes well will be drilling there soon. We have many targets to drill onother projects as well.
That email was from beginning September, maybe then they hadn't figured that lead and zinc would be trading that high that quickly. From his response I can understand that gold is their main focus right now and not their mine....I don't know but I think it would be wiser for them to concentrate on their gold projects.
As he wrote, they'd have to raise capital again and I think the money they have now would be better spent at finding more gold.
I don't know, I'll have to ask them again where their priorities are now with lead and zinc are around the targeted price but with fresh money I think I already know what his answer will be.
I will send them an email and will let you know what his response is.
cheers