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1911 Gold Corp V.AUMB

Alternate Symbol(s):  AUMBF

1911 Gold Corporation is a Canada-based junior exploration company. The Company holds a prospective, consolidated land package totaling approximately 63,000 hectares (ha) within and adjacent to the Archean Rice Lake greenstone belt in Manitoba, and also owns the True North mine and mill complex at Bissett, Manitoba. Its Rice Lake exploration properties, totaling over 58,000 ha, are located approximately 100 kilometers (km) to the east in Ontario. Its flagship asset, the True North Complex, is located adjacent to the town of Bissett on the north shore of Rice Lake, approximately 150 km northeast of the city of Winnipeg, Manitoba. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario. The Apex exploration property is located 15 km southeast of the town of Snow Lake in north-central Manitoba and consists of five mining claims, totaling 752 ha, which are 100% owned by the Company.


TSXV:AUMB - Post by User

Post by own_qualityon Aug 24, 2020 4:48pm
299 Views
Post# 31447533

Reopening of the True North mine?

Reopening of the True North mine?I can't imagine that the True North mine could not be profitably put back in production at today's gold price. They could mix in tailings to keep the mill running at 1200 tpd, or mine a little wider and suffer some dilution. Anybody know how much capex would be required to get back into ore production? You have to think at least Hecla is running the numbers. The mill alone is a $120 million asset. How much is the mine worth? I know Klondex put many millions into the mine. Then there's 53k hectares of very promising land, plus at least $8 million in cash and zero debt. Even at 4x the current market cap, this would be a steal. I now have 45k shares and I'm done. I think I'll make a huge profit very soon.
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