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Hy Lake Gold Inc. C.HYL



CSE:HYL - Post by User

Post by scissors14on Nov 19, 2011 4:58pm
601 Views
Post# 19251557

The Gold Report: Ron Struthers

The Gold Report: Ron Struthers

TGR: In July, Agnico-Eagle made a foray into the Red Lake Camp by investing $70M in Rubicon Minerals Corp. (RBY:NYSE.A; RMX:TSX). In 2008, Agnico lost out on a bid for Gold Eagle Mines with Goldcorp. Now both senior producers have a presence in the Red Lake camp. Agnico's corporate secretary Greg Laing holds a seat on the board of Hy Lake Gold Inc. (HYL:CNSX; HYK:Fkft), which is also in Red Lake. But Hy Lake has a joint venture with Goldcorp. What do you think about the prospects for Hy Lake given its relationship with both producers?

RS: I think that's ideal. That is really what a junior needs to do. Down the road, when it has proven out the reserves, it wants to have competition to buy it out. Agnico-Eagle and Goldcorp are the two gorillas in that neck of the woods. They are the two you want to have fighting over your stock when you discover a mine. It's an excellent move.

TGR: What do you make of the Rowan property?

RS: It's excellent. There were three past-producing mines near Rowan and the adjacent properties, so we know there's still gold there. And it is finding robust gold grades in the drill results all the time. It's just a matter of time to do enough drilling there before it proves up a mineable deposit.
TGR: In July, Agnico-Eagle made a foray into the Red Lake Camp by investing $70M in Rubicon Minerals Corp. (RBY:NYSE.A; RMX:TSX). In 2008, Agnico lost out on a bid for Gold Eagle Mines with Goldcorp. Now both senior producers have a presence in the Red Lake camp. Agnico's corporate secretary Greg Laing holds a seat on the board of Hy Lake Gold Inc. (HYL:CNSX; HYK:Fkft), which is also in Red Lake. But Hy Lake has a joint venture with Goldcorp. What do you think about the prospects for Hy Lake given its relationship with both producers?

RS: I think that's ideal. That is really what a junior needs to do. Down the road, when it has proven out the reserves, it wants to have competition to buy it out. Agnico-Eagle and Goldcorp are the two gorillas in that neck of the woods. They are the two you want to have fighting over your stock when you discover a mine. It's an excellent move.

TGR: What do you make of the Rowan property?

RS: It's excellent. There were three past-producing mines near Rowan and the adjacent properties, so we know there's still gold there. And it is finding robust gold grades in the drill results all the time. It's just a matter of time to do enough drilling there before it proves up a mineable deposit.

https://www.theaureport.com/pub/na/11706

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