OTCQX:DMMIF - Post by User
Comment by
bailey2on Jul 23, 2018 7:19am
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Post# 28351565
RE:Surf's up in Ecuador
RE:Surf's up in Ecuador One only has to look as far as Lundin Gold who just closed a 350 million dollar debt facility and are
spending over 650 million to get Frute de Norte up and running. Great for the economy of Ecuador.
Just think Kinross paid 1.2 billion to take out Aurelian, and Lundin stole it for 240 million. Supposed to have an AISC in the mid 600 dollar range. They paid the government of Ecuador an advance royalty of 65 million and don't have to pay any windfall taxes until they recoup their development investment That being said, it about time for Coregold to get out of receivership. I am not enamoured with the debt facility that was annouced months ago, that they are waiting on. The price of gold is not really helping either, for their approx, 2000 per month production. Surely hurting cash flow. I would like to see a biggie take a piece of the company. Maybe with good intital drill results from Linderos ,someone will eventually step in. A market cap of 41 million presently. Here,s hoping that this turnaround story, of the last few years, keeps turning around, perhaps at a quicker pace.