a shareholders view
I appreciate everyones input on this bullboard ! In any transaction llike the sale of Mountain Boy's interest in the "Silvercoin" property to Ascot it is managements responsibility to negotiate the best possible terms. I truly believe that this was the case here.
First of all it has to be noted that the transaction between Ascot and Jayden was conditional
of Mountain Boy agreeing to the same terms and condition for their 20% interest.
We had no operational control on the project and at best limited input as a minority partner.
As it stands, the resource on the Silvercoin property is not sufficient as a "stand alone" project. Ascot was the perfect fit with its adjoining assets and existing infrastructure and permits
The current market conditions are and have been difficult for junior explorers to advance but only the best projects who clearly demonstrate economic viability
The proceeds of the sale will give us for years the financial stability to continue advancing our "fllagship" district scale VMS horizon comprised by the "BA" ,"Surprise Creek" and "George Copper" properties. Past exploration has shown tremendous potential and current efforts are to compile all historic data and plan for future exploration.
The "MB" property is equally exciting with Bonanza grade silver intercepts in the high grade vein zone as well for its lead/zinc/silver and copper porphyry potential
On the Red Cliff property we are optimistic that current drilling by our joint venture partner Decade Resources will add to the "resource" to be determined by a qualified partner later this year