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GT Resources Inc V.GT

Alternate Symbol(s):  CGTRF

GT Resources Inc., formerly Palladium One Mining Inc., is a Canada-based mineral exploration and development company. The Company is focused on discovering critical green transportation metals. It targets district scale, nickel-copper sulfide and platinum-group-element (PGE) deposits in Canada and Finland. The Company’s Canada projects include Tyko, Ontario; Disreali, Ontario; Canalask, Yukon; Hemlo East, Ontario; Big Lake, Ontario; North Rock, Ontario; and Black Bear, Ontario. The Lantinen Koillismaa (LK) Project in north-central Finland, is a PGE-copper-nickel project that has existing NI43-101 Mineral Resources. The project is located in north-central Finland, approximately 40 kilometers (km) north of the Company’s exploration office in the town of Taivalkoski. The property is 160 km (by road) east-southeast of Rovaniemi and 190 km northeast of the port city of Oulu. The Tyko and Canalask high-grade nickel-copper projects are located in Ontario and the Yukon, Canada, respectively.


TSXV:GT - Post by User

Post by IgnacioCashmereon Jun 14, 2022 7:45pm
210 Views
Post# 34756700

Canalask acquisition

Canalask acquisition
They paid $225,000 for it, almost nothing. 400,000 tons @1.3% nickel makes for 11.44 million pounds. 11.44 x $10= $114 million. 1% of that is $1.144 million so I call it a good deal but strange that they would want it. They have 2 stellar projects & at best they can only develop one. Where will the money for drilling this come from? $200k of the purchase price is stock, so it really only cost them $25k. Still, hard to see the motive when they can't carry either of their current projects to production w/o a partner.
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