RE:RE:RE:RE:RE:RE:THE BEST SILVER PROPERTY IN BC!I noticed that this Sedar update was just put out today or yesterday. So basically to answer the question about Lone Pine's place going forward, nobody really knows it seems. Can't really get any definite answers from Sedar and like I mentioned in the other post I wasn't able to contract the company to ask.
This is basically the last thing that happened under Bard, which is why it's frustrating to me that the new company doesn't even mention Lone Pine on their new website. Sedar does say they made a royalty payment to keep ownership in 2020 but that was likely made under Bard, so what does the new company intend to do going forward? I'm not very impressed that they would decide to leave it up in the air, to the disadvantage of not really knowing for sure what those coming over from Bard are investing in, in my opinion.
Project Summaries and Activities
CANADA Bard’s principal resource property during the year ended September 30, 2020 was the Lone Pine property located in British Columbia. In 2009 and 2011, the Company completed a National Instrument 43-101 compliant resource estimate and a preliminary economic assessment (“Reports”), respectively. The Reports showed favorable economic potential as an open pit mine producing Mo and Cu concentrates.
During the year ended September 30, 2019, the Company is no longer pursuing the Lone Pine property and recognized an impairment of $271,230. During the year ended September 30, 2020, the Company incurred exploration expenditures of $31,676 which were primarily comprised of $6,000 for Lone Pine property core storage and amortization of capitalized costs incurred to maintain the 100% interest that the Company has on the property. During the comparative period ended September 30, 2019, the Company incurred exploration expenditures of $47,716 on the Lone Pine Property. On June 26, 2020, the Company issued 208,334 common shares at fair value of $25,000 in order to satisfy annual royalty payment obligations for the company to maintain 100% working interest in the Lone Pine mineral claims.
New Opportunities
The Company continues to evaluate mineral properties and is focused on deposits in Canada. Properties with economic merit and good logistics will be considered for acquisition.