OTCPK:HCGI - Post by User
Post by
bossuon Feb 05, 2017 11:16am
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Post# 25801555
If I was Tony ....
If I was Tony ....Now that I have didgested the NMI takeout and having C$ 315 MM in cash at December 31 2016 I am thinking a way to use that cash to grow rapidly the new Kirland Gold this way.
Even if have announced an agressive 2017 exploration program of $US 45 to $US 55 million that I will pay with a C$ 14 million monthly cash flow I have the intention to go after Wesdome Mines and I tell you why.
Wesdome has announced a 52000 to 58000 oz production for 2017 and has a very good exploration program for 2017 to expand mine life of the actual producing assets for 10 years and the hidden card is the discovery at the Kiena complex where they have discovered in August a potential huge deposit to feed the actual mill waiting to produce 2000 t/d and possibly as much as 130,000 oz/year .
Just adding the 58 000 and the possible 130 000 oz at Kiena would add 188 000 oz to my forecast actual production at KL.of 500 000 oz for a total of 688 000 oz in 18 months from now!!
The actual market cap of Wesdome is C$ 342 MM and I think could have a deal in offering
a share exchange that they could not refused or a 4.5 Wesdome share for 1 Kl and may be I could used part of the cash on hand.
I want to be fair with you this time and want to tell you the truth and not do what I did when I sold Lake Shore last year about at the same time .
Yes I had some talk with them and it is a matter of weeks to ''seal''the deal!!