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Galway Resources Ltd V.GWY



TSXV:GWY - Post by User

Bullboard Posts
Comment by oldtimer42on Jun 29, 2011 4:48pm
228 Views
Post# 18781533

RE: RE: 400 Year Old Gold!

RE: RE: 400 Year Old Gold!Thanks MEiffy. Good point regarding the permit process. You may be correct that GWY does not have a license, but my interpretation of the GWY April 28, 2010 press release seems to imply that they assumed the license when they bought the property. To quote from the release.

" Vetas Gold Project
The company is currently carrying out exploration on its Vetasproperties which are located 8 kilometers SE of Galway's California goldproject. The principle focus for the exploration program is on the ElVolcan mine, which has been in production for over 400 years. The ElVolcan mine, which is above 3,200 meters of elevation, is currentlyoperating and producing gold under an exploitation license that is validfor 26 years, and as such we do not believe it will be impacted byreform of the mining code."

But, that is only my assumption. We all know that when you assume anything, you can make "An AssofUandMe"! In any event, if there is already a license in place that is not transferable, it should not be tough to renew it since the property has officially been mined since 1916.

Bullboard Posts