RE:RE:RE:RE:RE:GORO now holds 13.3 million common shares of CanamexLabumba,
I somewhat agree with your thinking about the two major players. I see that Helcla's SP is on a tear. Hit a new 52week high today.
Hecla Mining Company (NYSE:
HL) shares touched a new 52-week high of $5.65. Hecla Mining shares have climbed 128.10 percent over the past 52 weeks, while the S&P 500 index has gained 2.05 percent in the same period.
Regarding your query/question- Among the key assets at the Bruner gold project are 26 patented mining claims. In a November 2, 2015 news release, Canamex announced that it had completed the purchase of the patented claims for US$760,000, securing ownership of those claims for the joint venture and saving the joint venture US$425,000. Canamex purchased the claims directly from American International Ventures Inc. ("AIVN"), subject to Patriot Gold's rights under an Option Agreement dated April 1, 2009 that gives Patriot Gold the ability to purchase those patented claims by making a final payment of US$1,185,000 on or before April 1, 2016. Both Canamex and Patriot Gold expect, however, that those
patented claims will be conveyed to the joint venture once the more comprehensive joint venture agreement is executed. Shareholders are still waiting for the news of the agreement between Patriot Gold and Canamex.
Researched and found the below in three or so Canamex releases. I believe, that they may have to apply for the final mining permit once operations are deemed as a Go !
On November 12, 2015) - Canamex Resources Corp. (TSXV: CSQ) (OTCQX: CNMXF) (FSE: CX6) (the "Company") announced it had applied for and received a 2-year extension to its Notice of Intent with the Bureau of Land Management ("BLM") for exploration drilling on unpatented mining claims covering the Penelas resource area at the Bruner gold project, Nye County, Nevada.
BLM Notice of Intent Permit
The Notice of Intent permit with the BLM covers disturbance created to establish drill road access and drill sites at the Penelas resource area. The Company has a cash bond in place in the amount of US$13,409 to cover reclamation for up to 2.06 acres of permitted disturbance. To date the company has built sixteen (16) out of nineteen (19) permitted drill sites and re-contoured and re-seeded nine (9) of those sites, leaving a balance of 12 sites available to be built under the existing bond amount. In addition the company has permitted for the re-drilling of a water well for which the Company has water rights. This well is silted in and requires re-drilling. An additional bond of $1,700 will be required before this well can be re-drilled.
The Company has been drilling multiple fans of drill holes from single drill pads to minimize the amount of surface disturbance created by drilling activities, and this practice has allowed the company to drill many more holes under a Notice of Intent than would be possible if each drill hole was drilled from a single drill site. The company is able to amend the Notice if Intent and the permitted drill sites to respond to increased knowledge from drill results on the likely location of the mineralized system at depth.
Additional disclosure: I am not a financial planner or a professional trader. I am not advising you to sell or to buy a stock. Prior to buying or selling any stock please do your own due diligence and/or talk to your financial advisor or a qualified investment professional.
G.L.T.A
WindyHill