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Goldex Resources Corp V.GDX

Alternate Symbol(s):  GDXRF

Goldex Resources Corporation is a Canada-based junior resource company exploring and developing gold properties. The Company is engaged in the acquisition and exploration of gold exploration and evaluation assets. It owns 100% of the mineral title and rights to explore and extract minerals from a mineral property known as the El Pato Property in Guatemala. The El Pato Project is located in south-eastern Guatemala, five kilometers (kms) west of the town of Chiquimula and approximately 110 km east of Guatemala City. The Project consists of two mineral exploration licenses which cover an area of approximately 126 square kilometers. The Cerro Las Minas Property is located contiguous to the El Pato property in the eastern Department of Chiquimula, within the southeastern part of the Republic of Guatemala, Central America. Its wholly owned subsidiaries include Compania Minera El Condor S.A (Minera), Union de Oriente, Sociedad Anonima and El Pato Gt, S.A, (El Pato Gt).


TSXV:GDX - Post by User

Bullboard Posts
Post by stockswiperon Nov 23, 2011 4:26pm
228 Views
Post# 19262231

Answers from Toby to a few questions.

Answers from Toby to a few questions. I just tought you might like to hear from Toby and what he had to say about both projects. I am impressed at how fast he responded. Here it goes. Good day sir, would it be possible to have the current status regarding the El Pato project?As per: - new drilling program vs. immediate production. Sampling taking place at the moment as well as mapping, no drilling in very near future, we are concentrating on El Arco with our drills at the moment. EIA Application filed imminently, given approval mining could takes less than 6 months to realise. - production of the dip slope. See above. - the use of a third party for extraction of gold ( another nearby mill ). This how we plan to proceed, in talks with Guatemalan producer and looking at possibility of shipping the ore out of Guatemala. - NI43-101 Revision. We are always working toward NI 43-101 but small production and exploration is our first concern, we are confident in the UN figures we have for the property and the market understands what we have at El Pato - Next 3 months agenda. Continued exploration on EL Pato. Production EL Pato ( after licence grant) Would you be kind enough to supply the overall status for El Arco project?As per: - Permitting. In hand as of today - Extent of the Drilling program. 50 holes over 15,000m. 4000m RC phase one - Expected time frame of the drilling program. 4-8 weeks? - Next 3 months agenda. Drill, results, next drill targets etc.. Last, why did the company choose to make a private placement vs. the use of a new credit facility for the same amount? Instead of diluting the total outstanding shares the company could have reimbursed that facility with the possible revenues that could be generated from the early anticipated production at El Pato. A question best answered by the board. I am not privy to questions of funding I’m afraid… I just hope it lifts our SP even in a crapy market.
Bullboard Posts