El Oro Mine is reopening soon?!If i read the news release right then we can look forward the reprocessing of mining operations at the El Oro Mine.
Rio Verde Resources will be operating there and xgc will receive an nsr of 3 percent.
OK, mining concessions for the "old" mining aereas are already there so it could go fast.
A private Placements at 5cents + warrants seems to be on the way also.. hm..
There seems to be qite some gold and silber left behind in the old workings so maybe the nsr could sum up to over the next 5-10 years to 5-15 Mio USD(?) maybe..
Together with the 3 percent gsr from El Oro taillings which ist expected to bring 10mio USD over the next years this would be about 15-25mio USD over the next years. Plus the sda plant, plus tres Marias, plus the El Oro hard Rock Project - which should probably have the biggest potential to increase the company value dratically.
Imho the share price is to low and this is why a PP at these prices ist somehow doubtful.
Somone had to collect this amount of shares in the tsxv market the stock price would be significally higher.
Glta