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Providence Gold Mines Inc V.PHD

Alternate Symbol(s):  PRRVF

Providence Gold Mines Inc. is a Canada-based mineral exploration company. The Company is engaged in the process of exploring and evaluating its mineral property located in California, United States. It owns 100% interest in Tuolumne Property. The Company’s gold mines consist of seven patented stake mineral claims and 22 located claims, encompassing an area of approximately 324 acres, which includes Bonita, Consuelo, FairPlay, Good Enough, McCarthy, Mexican, and Providence. The Providence Group of Mines is located in the Summerville Mining District, Tuolumne County, California, upon the eastern belt of the Mother Lode District. Its subsidiary is Providence Gold Mines (US) Inc.


TSXV:PHD - Post by User

Post by givemeabreak1on Mar 12, 2021 9:42am
112 Views
Post# 32784274

Question!

Question!I have a question because I do not want to go through the pain of watching the Zoom meeting again.

1. Did he not say that there was only 55 million shares outstanding which included 18 million or so warrants?

As near as I can figure there are 55 million shares outstanding plus about 28 million warrants as of last financials?

2.  If I am reading the terms of their agreement correctly they are simply doing work to earn a 50% joint interest in the property which they have not done as yet.  Is this correct?  If so does work on the stock pile count as work toward joint interest or is it simply part of the seperate stockpile agreement?

3.  If they decide to buy the property another 5 million?

4.  I did not see them mention their cash position.  They had like 700k but that was last September anyone know where that stands as it is almost 6 months later?  Based on the last quarter burn rate I suspect they will need to do a finacing to drill.


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