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Nickelex Resource Corp V.NICK

Alternate Symbol(s):  NKLXF

Nickelex Resource Corporation is engaged in the acquisition, exploration, and development of natural resource properties. Its operations include Swift Katie gold/copper property and Thompson, Manitoba nickel properties, and Pilar Gold Inc. and Laiva Gold Inc. The Swift Katie gold/copper property near Salmo, British Columbia is an area that has historically hosted several important mining districts and is underlain by rocks favourable for the discovery of both copper-gold porphyry deposits and high-grade gold quartz veins. It has an option to earn up to an 80% interest in the Moak North and Wilson Mineral Exploration Licenses in the Thompson Nickel Belt (TNB), Manitoba. The four licenses are located 30 kilometers north of the Thompson Nickel Mine and cover an area of approximately 30,283 hectares. Pilar Gold Inc. and Laiva Gold Inc. have operations in Brazil and Finland. Pilar Gold operates the Pilar gold mine in Brazil. Laiva Gold owns the Laiva gold mine and mill in Finland.


TSXV:NICK - Post by User

Post by Scorpio2on Nov 01, 2020 9:36am
121 Views
Post# 31819907

Does VQA Need to Complete their Open PP?

Does VQA Need to Complete their Open PP?My only concern at this point is if they get the operations up running quickly and they are producing 1,000 oz of gold per month, do they still need the 30 mm unit financing at 0.10 to finance the operations? Seems like that attempt at financing is stuck in the mud right now until they can attract more investors with actual gold production. Looks to me like they may have enough to finance the Livramento purchase obligation and pay for operational expenses with revenue from 1,000 - 1,200 oz per month but I might be missing something here. Need to dig deeper into the financials. Good to see that Valterra cut loose their Weepah option in Nevada and hope they find a buyer for their BC and or Mexican property. Their Mexican property looks interesting but I don't think they can afford to run both the Mexican and Brazilian properties right now hence the focus on Brazil. I think that after they finish their trial 5000 tonne bulk sampling at Livramento they will then have to address which properties to keep and which can be put up for sale. That might be an easier transaction if gold/silver rises a lot over the next 3-6 months as most expect.
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