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Bullboard - Stock Discussion Forum Cantex Mine Development Corp V.CD

Alternate Symbol(s):  CTXDF

Cantex Mine Development Corp. is an exploration stage company. Its principal business activity is the exploration and development of mineral properties for commercial mineral deposits, and it is considered to be at the exploration stage. It is focused on its 100% owned 20,000-hectare (ha) North Rackla Project located about 150 kilometers (km) northeast of the town of Mayo in the Yukon Territory... see more

TSXV:CD - Post Discussion

Cantex Mine Development Corp > How do you “Get the Lead Out?”
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Post by Oregonduck on Jul 24, 2024 4:39pm

How do you “Get the Lead Out?”

Without an access road through FNNND traditional pristine land. Cantex is drilling using small rotary equipment and hand digging with shovels. The crew have to take a fixed wing aircraft to and from Rackla Airport and a helicopter to the remote mountainous site. Fly In, Fly Out.

ATAC's road was rejected. That stock had dropped from $10 to a few pennies on the verge of bankruptcy until taken over by Hecla Mining for $0.12. They have proven gold resources. Helca is the largest silver miner in the US and is under current FN mining moratorium just like Cantex.

This was what ATAC former CEO said about their road:
"...
ATAC wants to build a 65-kilometre all-season road from a point near Keno City, Yukon northeast to its Tiger gold property. The road would require eight bridges and 38 culverts.

He says the company needs a road to keep the decade-old project alive.

"We've spent almost $90 million on this project. Almost a third has been spent on aviation and flying stuff around. It just shows you [the expense]. It's unsustainable — you can't do fly in, fly-out gold deposits," he said. 

Downs says the next stage requires heavy equipment such as drills and excavators, as the project moves from exploration to feasibility studies.

"You can't fly in big excavators with a helicopter," he said."

Comment by SkahaLake1 on Jul 24, 2024 7:34pm
Okay, none of this good. BUT Cantex would be an underground mine, shipping ore to a smelter, probably Trail, BC. There would not be a heap leach pond that could fail. First Nations do not have any final say, they only have a right to be consulted. Yes, it is best to stay on the best side of the tribe, if possible. But they DO NOT have a veto. By the way, the Yukon is not a province; it is only a ...more  
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