This is what a complete management failure looks likeQuestEx (used to be Colorado Resources) sold out for $48 million to Skeena. Skeena will sell North Rok and Castle to Newmont for $27 million. As a result for a net expenditure of only $21 million, Skeena will steal KSP and Kingpin from QuestEx shareholders.
For its part, Newmont will steal about 2 million oz. AuEq (mostly in the form of copper) in the North ROK reserves, from QuestEx shareholders. This equates to less than $13.50 per AuEq ounce for those minerals in the ground.
The sale price of QuestEx is about $1.20 CDN$ per share, or about $.12 per share adjusting for the consolidation (1:10) about 18 months ago.
The Castle property going to Newmont is immediately adjacent to the Newmont development bought from GT Gold. It has always been clear that the GT Gold trend continues into the Castle property. QuestEx failed in their exploration efforts to locate that reserve.
https://skeenaresources.com/news/skeena-announces-acquisition-of-questex-gold-copper-ltd-and-concurrent-sale-of-questex-assets-to-newmont-corporation/
This post clearly reflects my opinions on this terrible transaction. Do your own research and form your own opinion on it - then post it so we can all get the benefit of your work. Thanks. Doug