OTCPK:GDMRF - Post by User
Comment by
louelon Aug 16, 2017 4:17pm
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Post# 26589286
RE:RE:More Speculation***
RE:RE:More Speculation***The way I look at it and,
The main reasion I am here. Is Kinross holds a mass of properties on the Canadian side of the border. near GOM They have been successfull in finding mineral locations. (Yet to be proven up to a resource classification)
Buckhorn mill which was close has been shuttered. It is a distance haul to their closest facility which entails International border crossings every trip. And reduced load weights in Washington as compared with BC adding to transport costs.
Kinross could build their own milling facility on their own site. But that would create significant time delay to production. Entailing envrionmental permitting and endless studies.
Their best choice considering GOM already has a mill, plus proven mineral at a production cost of under $800. Would be either partner with Golden Dawn or to take us out entirely.
Kinross is about Gold and safer working jourasdictions. They learned a hard lesson on their DRC venture. They unloaded their Cerro Casale operation in Chile for $260M in June 17. Sold because of another unpredictable foriegn government intervention.
Quote " Kinross expects to use the proceeds from the sale for its organic development projects."
They purchased some safer area claims in Nevada from Barrick. Golden Dawn fits with their intentions as you can read in the last paragraph of the following BNN report.
https://www.bnn.ca/kinross-to-retreat-from-chile-puts-unit-on-the-block-report-1.550109