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Canadian Gold Corp V.CGC

Alternate Symbol(s):  STRRF

Canadian Gold Corp. is a mineral exploration and development company. The Company’s principal project is the Tartan Lake Gold Mine Project, a mineral property which hosts a past-producing underground mine. The Tartan Lake Gold Mine Project is located approximately 12 kilometers (km) directly northeast of the town of Flin Flon, Manitoba, Canada. The Project is approximately 2,670 hectares in area and consists of 20 mineral claims. The operation consisted of a 450 ton per day gold processing facility. The Company also holds a 100% interest in green field exploration properties in Ontario and Quebec adjacent to some of Canada's gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). Located due south of Agnico Eagle’s Hammond Reef Gold Project, the Hammond Reef North and South Projects are prospective for large tonnage, low grade gold deposits.


TSXV:CGC - Post by User

Bullboard Posts
Post by Ogre2on Mar 06, 2014 10:21pm
116 Views
Post# 22292494

Or a gold play, either way...

Or a gold play, either way...
Anyways, if it is a gold play, the previous production shut down at approx $375/oz, which we can take to be production cost.  Grades are very good at 4 g/t.  Taking 50% of the inferred resources to be real, there are ~250,000 oz present, with a cash made per oz of ~$900 at current rates, gives $225 Million profit.  There is capitol overhead, but most of the headworks, etc are in situ already.  So yes, this can be a real project with nice profit.  They would look at being bought out by Hudbay or another miner ultimately, likely around a dollar or two.  At 46 million shares float, that pricing would make sense.  Even a 50 cent range would be fine.
Bullboard Posts