OTCPK:GNOLF - Post by User
Comment by
miningmanon Jun 25, 2001 3:57pm
270 Views
Post# 3917887
RE: Made good money
RE: Made good money Your questions are valid but so are the following points
With gold stocks on the cdnx , mine production is not nescessary for stock promotion and price increases. This has not yet started with bpn.
However, there is still lots of gold on this property and production is a real probability. The company website could be a lot more informative. Present ore reserves are only 0.33 ounces but the historical average mined grade was over half an ounce. Nugget effect and all that good stuff.
Back in the eighties they didnt have a mill on site or government permits. Today the mill is there is, as well as the mine development certificate. Cost of labour and supplies are way lower today than they were in the ealrly eighties. Seems incredible but talk to others in the depressed mining industry.
There was a socialist governement in BC for the last 10 years. They are now out antd the business climate is improving daily.
The company's previous geologist quit in the mid ninetys due to managements lack of ability to raise financing. He is the sharpest geologist I've ever met, and is the source of a some of my info. Financing doesnt seem to be a problem today.
Note I'm not speculating on rising gold prices.