TSX:LSG.DB - Post by User
Comment by
goldhappyon Jun 20, 2014 3:02pm
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Post# 22680749
RE:RE:This is what Lakeshore is looking for with 5 million drill
RE:RE:This is what Lakeshore is looking for with 5 million drillyoda2...you are partly correct. Just from what I remember off the top is the stock dropped heavily when Hothschild Mining sold out. Shortly after we were advised the mill was too small for what Tony wanted to do. It had been a small exploration company doing not so bad and no debt. The mill was good for 1500 tpd or so. Good enough to expand the resource and pay for the exploration with processing 1000 or 1500 tpd. The expanded resource would have been sold off one day to a larger suitor like Goldcorp or other interested company. Tony wanted to expand the production to over 300,000 oz per year. The large expence to build the new mill required lots of capital and guts. Looks like Tony is close to pulling it off. Won't be long and great assays will be published giving LSG another leg up. Paying off the debt , exploring and expanding the development will all contribute to the great sucess we have been waiting for these past few years.