Another new high on GOLDThis is a simple play. I just spoke with the president, Patrick Levasseur, and from what i can figure this is a chicken and the egg deal. They have a couple of hundred grand in the bank but really need to find a million to get the Beauce tailing pile working. Even if they pull 10000 ounces out of that pile....although it looks like they have more than that, they will have more than enough $$$ to drill up the larger property where they hope to discover a source ore body. Here is a quote from a PDF that was sent to me....
"Uragold’s interest in the property is straight forward, while exploring for the potential hard rock gold source of the Placer, the Corporation intends to recuperate the historical paleoplacer gold occurrences found in the gravels of a buried river channel. Using a modern, full recovery placer mining plant, a placer gold mine can be a low cost, high margin operation, high levels of gold recuperation.
The paleoplacer gold occurrence is considered modest versus other active gold mines however; recuperating this 27,734 ounces of gold could generate over $22,000,000.00 of cash for the Company over the next 24 months. This Cash-flow would then be deployed to finance exploration programs on the company’s lode gold projects that hold the real blue sky gold potential of the Corporation.
Following the success of the Beauce Placer Gold Project, Uragold will assess it’s other placer gold properties such as the Moe River historical gold deposit of 400,000 oz and the 37,000 oz shallow depth paleoplacer deposit of the Calway property, for similar development.. ."
Please understand what they have and how this could quickly become a very viable company. Go to the website, do your due diligence and try and understand the project. If you have any questions please call Patrick, he is always looking forward to speaking with investors and is very pleasant on the phone.
https://www.uragold.com/Site/Welcome.html
Cheers
and please do your due diligence