RE: Breaking News from the AGMEAG AGM 15 Dec 2011
My take listening to AGM and comment in Italics;
They are mining, expects first Gold Pour February, 25Koz AU 2012 at cash costs $600-650/oz (Scoping Study), ramping up to 600T/day 40Koz AU 2013.
Discussion of the Major Dilution for Financing. Lucky to even get Financing in today’s Market. If SP doesn’t respond when in production, cash flow can always be directed to buyback cheap shares.
Geo very excited reporting on McGarry pre-production and drill program, especially the mining prospects as different areas are prepped for stoping, all indications is that Mill zone will be big from drilling, could not elaborate as still awaiting assays. Many drilling results to come and all indications are very positive. Lots of good news coming going into 2012 on the production front and exploration side!
Custom Mill Contract within 2 weeks. In final stages of signing a Milling Contract, 2 contractors with inside track, maybe a third under consideration.
Discussion Kerr-Addison Tailings. This could be big biz and lucrative, as these tailings most likely contain a lot of Gold especially the older tailings from decades ago. Right now Armistice do not have the rights, which are subject to negotiations with Kerr Owners.
Cheers, Mark