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Granada Gold Mine Inc V.GGM

Alternate Symbol(s):  GBBFF

Granada Gold Mine Inc. is a Canada-based junior natural resource company. The principal business of the Company is the acquisition, exploration and development of mineral property interests. The Company is engaged in developing and exploring its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, which is adjacent to the Cadillac Break. The Granada Gold Property is located five kilometers south of the mining community of Rouyn-Noranda, Quebec. The property includes the former Granada Gold underground mine. The Company owns about 14.73 square kilometers of land from a combination of mining leases and claims. The Granada deposit is a quartz-vein mesothermal gold deposit hosted by late Archean Timiskaming sedimentary rock and younger syenite porphyry dykes.


TSXV:GGM - Post by User

Bullboard Posts
Comment by ElGrandeBurritoon Dec 12, 2011 11:16am
293 Views
Post# 19313160

RE: RE: RE: RE: RE: 4+ M/Oz

RE: RE: RE: RE: RE: 4+ M/OzGBB will get $3 million from the Quebec credit loan. They expect to get the first 75%, which is $2.3 million, by Xmas. The rest of that money can take as long as 12 months to receive. This is based on what Roger told me. Not entirely sure what a Quebec credit loan is though, but whatever it's money. Since they stopped drilling their burn rate is very low. The $2.3 million should therefore buy them quite some time. Based from what is said in their financials, I expect management to announce the shareholders gold purchase program after the first 43-101. This can then generate extra cash. By then, our SP will hopefully have risen substantially.
Bullboard Posts