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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

Comment by givemeabreak1on Oct 16, 2022 8:37pm
63 Views
Post# 35028114

RE:RE:Buy property

RE:RE:Buy property

Problem is the company does not own the property lol!  In other words, they have a working interest ie lease agreement to earn in to a 50% working interest lol.  After the earn in they have an acquisition option to pay $5 million for 100%.  

Needless to say they would have difficulty coming up with that kind of cash and even then I supect they would need to charge more than $10.  Maybe $100 to come in and pan the stockpile and drink beer!  

This company does not seem to have a plan B which is hard to believe given it may well be the highest grade gold deposit on the planet lol!   Please sir may I have another glass of Koolaid?

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