Columbus Gold Corp CGTFF

Metals & Mining Industrial Metals & Minerals

"Columbus Gold Corp operates in the gold mining industry. The company acquires, develops, explores and evaluates gold in French Guiana. It owns two main projects and other projects. Montagne d'Or Gold project which is comprised of eight mining concessions and Eastside Gold project hosts a large area of shallow oxide gold mineralization. It principally operates in three geographical areas those are Canada, United States, and France."

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Columbus Gold Corp > Take over when?

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Comment by goldhunter11on Jun 07, 2017 6:10pm

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Post# 26337843

RE:RE:RE:RE:RE:RE:RE:Take over when?

AltaR,
You said: " As you pointed out it couldn't be part of any open pit plan so I not so sure what it does for us!".

That hole is special, no doubt about it, lol. I will try to provide an answer, plus a few more reasoning.
- What it does for us? Presumably, if that deep hole hit something significant and ouside the scope of the JV then only CGT (and not N) would benefit from the new find which can only be accessed from a UG operation (which was not even discussed in the RE estimate and the BFS.
- CGT spent its own money (from the PP) for the extra drilling.
- The JV objective with $30M for drilling and to produce the BFS was to show the size/sahpe/type/etc of the deposit and to find out if it can be shown that it can be economically extracted.

N will have to show its intention to proceed (or not) with the funding to bring this deposit into production...then we can go on from there.
GH

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