GREY:RDEMF - Post by User
Comment by
wiseyoungmanon Nov 08, 2016 2:54pm
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Post# 25437927
RE:Drilling news should be soon in my view.
RE:Drilling news should be soon in my view.Good post pipefighter.
The Canada Rica target is currently being drilled. Ian also said that the San Ramon extension starts drilling in November. He said there were 2 drill rigs and Company spending $200K a month on exploration. Company will add more drills based on upcoming cash flows and depending on how drill results go. He seemed confident on production as follows:
1. 8-10K ounces by year end 2016
2. 70K ounces in year 2017
3. 100K ounces in year 2018 [not stated how it bumps up since he did not state]
4. 140-150K ounces in 2019 [this would include ore from an adjacent target and after permitting the new target and mine build out at a cost of $25M to be funded by ongoing cash flows.
Vetas would be through CB Gold starting drilling in 2017 followed by the new silver project in the pipeline.
GLTA