GREY:VGMNF - Post by User
Comment by
greenandgoldon Mar 25, 2011 2:09pm
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Post# 18341664
RE: How much is Coulon worth?
RE: How much is Coulon worth?Do you mind telling us where you heard this piece of news about selling Coulon? PDAC?
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Of course, ultimately all of VGQ's properties are for sale since they don't want to become a gold or zinc producer. But the timing of the sale depends on the price of the commodities and the state of development of the property.
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They'll get better offers for Coulon once the zinc price, currently at $1.08 per pound, reaches $1.50 per pound, which is likely in this commodity bull market. In the meantime VGQ should keep drilling to define more lenses, it's the kind of formation which will get bigger over time.
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It's a flagship property with 40 to 50 million dollars of work put into it by Breakwater and VGQ. No reason to sell early.