RE:Junior mining company scores victory with regulatorsThanks M2, the new regulatory change ( NI 62-104 ), is in itself a built-in poison pill for shareholders that hold junior miners. One which added greater maneuverability in finding a white knight to help counter any hostile bid. In fact since that rule was enacted, I don't recall any hostile takeovers of any merit having occurred.
On another subject, I know some here have suggested that Integra should prioritize themselves with moving into the production stage soon after the PEA/Bulk Samplings are completed, skipping the FS, and start generating some FCF to help reduce future financing needs.
The situation is, and I don't believe it has changed, since an NR was put out May 2015 concerning project permitting, here's part of that NR:
"In addition to project permitting, the Company has commenced the process of converting its remaining exploration claims on the Triangle Zone into mining leases. Over 80% of the ground at Lamaque South, including the entire Parallel Zone and a small portion of the Triangle Zone where planned infrastructure is located, is registered as grandfathered mining concessions, thus allowing for future mining".
"The process of converting exploration claims to mining leases commenced in November 2013 and is ongoing. The claims were surveyed according to specifications provided by the Qubec General Surveyor Office. To complete the conversion process, a feasibility study is required which will be submitted upon completion of underground exploration and bulk sampling. The Company does not anticipate that the conversion process will be an impediment to advancing the project".
The full link for that NR is below.
As stated above, For production to begin at Triangle, a feasibility study is required, and will be submitted upon completion of underground exploration and bulk sampling. I'm still of mind that production will begin 1H 2018, and that with the next financing, UG exploration/development will commence at Parallel.
Last subject -
Milestones since I've been an investor here:
1) The hiring of Herv Thiboutot.
2) The discovery of Triangle's C Structures, fast becoming a 3-4 million ounce resource,
3) The Appointment of George Salamis as Chairman of the Board.
4) The acquisition of the Sigma/Lamaque mine and mill site.
Future possible added additions:
1) The discover of 2-3 million ounces at the the Deep.
2) New Zones brought forth from GRC
3) Bringing Eastmain into the fold.
4) M2 no longer talking of a rollback.
GLTA