Compilation of Board Responses Yesterday“About Elder, we are open in every direction the geology is promising and we hope to be there a for a long time. For Sleeping Giant, the company will need an economic study before launching the project but every thing indicate it is in good way. We will need about 5-6 Milions to open the mine. There is NO joint venture in the projects for now. A spin off of merger would be lot more plausible. But Still nothing was decided and there is no clear plan. The company will try do dilute as low as possible and is more looking for traditional financing. Excluding gold stream and high interest.”
Regarding Hinse retirement/replacement contingency planning: “We have 150 employees and 6 directors. The technical know how of the company is protected within its employees. Off course mister Hinse knows he is not eternal but he is still good and is grooming his employees to take the charge should needs be. Also, If such a situation come, we could always hire a reputable CEO because we have profit and no debt. Hinse family is involve and this is a fact, but that is also the reason of the success. Off course they want to be more open, that is why we are having new directors and communication firm. Look Jean coutu per exemple it was a family business. Profit are important and they don’t want to have people that are just there to be there.”
Regarding PDAC attendance: “Only talks with investors, analyst and capital market. no booth”
Regarding why is the Harricana property location strategic? “Simple answer, it is just beside Sleeping Giant. If there is veins that are continuing, it will be easier to mine and target. Also easy to truck the material.”
Comments: as RPM shared earlier, the primary purpose for attending PDAC is discussing potential financing for Barvue - not promoting the totality of Abcourt. Note the comment above: "A spin off or merger would be lot more plausible." Thinking this relates to Barvue, and could explain why at this point "nothing was decided and there was no clear plan." Also, no imminent development of SG mine. "For Sleeping Giant, the company will need an economic study before launching the project but every thing indicate it is in good way. We will need about 5-6 Milions to open the mine." Also, no clear number two visibly positioned / identified to follow Hinse. "We could always hire a reputable CEO because we have profit and no debt." Note again the importance of having no debt - and the implications for financing / developing current portfolio of properties absent sale of non-core assets or spinoff/merger. Thanks again to RPM for asking the questions.