1. How deep do you plan to drill Tabasco and how many drills are/will be committed to that zone? ------They said before they are drilling to 1000m, and from what I learned they have been doing that for a little while, and they are going to be drilling to 1500 m next! Great news, my guess is it was going well and they are following the yellow brick tabasco trail straight down.
2. Can you divulge which Quebec pension fund invested in the PP?------- No, they cannot. The fund has requested anonymity, and they are giving it to them.
3. Given the acquisition of BAR, are you still planning on going into Production start for Q3 2020 / when permits are approved?
-----This is a possibility, but the decision will be made down the road a bit. They do not rule out producing some should / when they might need some money so no more dilution, but the overall focus for them now is drilling drilling and drilling for the Resource Estimate. That is priority.
4. Are you preparing Fenelon for a buyout or for long-term production? -----From a few different answers, they are not married to either and not pursuing one or the other specifically. The focus is drilling Fenelon and getting the RE done on time and as complete as possible with every oz they can prove up. However, while not specifically pursuing one or the other, they have no problem doing either one, providing it is a good decision (or price) for the shareholders. They were very adamant and genuine about doing anything and everything that is in the shareholders best interests and best bang (return) for our bucks. Very professional across the board.
5. If / When production starts, what area would you start in, main Gabbro? ------ Yes, if /when production were to start, it would begin in the main gabbro, reason being that is where the infrastructure is already in place, and it would a simple turn key operation.
6. Will the RE still be done on time, or will you now be drilling onto former BAR property and if so, and you find good resources, will the RE be extended? They were pretty clear they want to stick to the timelines they have set for the RE, and I believe they will. They are laser focused from what I heard about getting the property drilled, complete the RE, and get every oz they can.
Which areas will the RE cover? --The RE will cover the main Gabbro, the lower Tabasco, and *potentially some of Area 51. How much of areas 51 will depend on the drills, what they find and whatever of it can be included, will be.
7. How soon after the BAR deal closes would you begin to drill on their property to the west and East of Fenelon? ---- This was another one that kind of depends on what they find with the drilling....basically they will follow the gold zones where they go, but again, their plans are not to jump over the boarders and start drilling BAR land after the deal, they are focused on drilling out the Fenelon property and the known zones for the RE.
8. Do you still have plans to meet your financial agreements for the Beschefer property or does the BAR acquisition cancel that / or put it on hold? --- This was also a wait and see, they want to wait for the deal to complete, then they are going to evaluate the risk/reward of all the various properties they have. I spoke with Francois Demers, P.Eng (Vice President, Mining and Projects) and he was telling me he is tasked with (and currently working on this) analyzing the drills, data, and determining what is the best scenarios moving forward. He spoke with very clear confidence about this, and struck me as a very competent and knowledgeable fellow.
9. If g. the BAR acquisition goes through, how soon would you plan to start drilling on the Martiniere property? ------ Once again, they are focused on Fenelon now and will be until the RE is done.....this would also be part of what Francois would be working on and determining.
Overall I was very impressed with the entire team. At no point was there any hesitation from any of them on answering any question or follow up question I posed. They were very on the ball, they were all on the same page with answers, and it was very obvious that they have a crystal clear vision of how they are moving forward and how to get it done. They have done a stellar job on drilling and exploring and they are going to continue with the model they are following. The key take-aways from the two press releases for me (and I believe for them) was that (again) they are expanding the known zones, which is excellent news and ultimately is what will drive this forward and up. Tabasco keeps getting bigger, deeper, and area 51 continues to show what is has shown, large intersections of quite decent and mineable low grade with high grade veins mixed in. I did mention there was probably some disappointment on the 120 m core, and Marz agreed. However, he was very open that while we had very high expectations, sometimes VG and sulphides don't always translate to huge numbers and grades. I thought that was very honest and open of him. I know I was SUPER excite about that one as were many others, but I agree we all need to take the good with the bad, and the Fantastic with the not so great. I guess we all will just have to be happy with a very rich deposit that is growing all the time, open in all directions, and pretty much always has gold, either low or high grade.....kind of a good problem to have !! Moving forward, personally, I see either production that will be wildly profitable, (open pit and some underground for the larger veins / zones) or a very good buy out. Either way, this resource is growing, shows no sign of slowing down, and either scenario is going to drive the share price up in the short and long term. ok, I am exhausted, but may post some other point form notes from my conversations later.....
Cheers all :)
-- Jefe de Oro