Orecap Invest Corp V.OCI

Interview with Stephen Stewart

[lobojack]

Flush with Cash to Pursue “that Billion-Dollar Drill Hole” with Orefinders CEO Stephen Stewart
https://www.youtube.com/watch?v=qQ3kroK3AM8

He's a great talker - after the big one.

[jfan22]

Good Share! I just want to highlight something Stephen said at 15 minutes in this video: Kerr-Addison (owned by Golden Candle, a private company) has been re-interpreted as a 6 million ounce open pit gold mine.  6 million ounces. We own their tailings facility and there isn't really another good place to put one considering where their orebody is. This is a huge development. It is

[Zooloo]

Yes, and in one of his recent interviews Stephen also talked about the existing tailings at McGarry going back through a mill. I would imagine that would be part of any deal with Golden Candle for the tailings facility. And yes Golden Candle is now in the process of going public. I would think they would need quite a bit of money to build a mill and they would likely need a tailings agreement with

[onetimer]

Just got the information citcular, and from reading it the following points are made 1.KL has the right to first refusal and right to match any offer if orefinders sells anything, or options it. so i do not believe they will allow a permitted tailing facility to be sold, as they would need it if they built a mill nearby for the pe\roperties 2. orefinders will operate the projects, but KL will

[ggrellette]

Point two is hard for me to believe. KL pony up 60 million in exploration expenditures will not sit by and allow this group to be the operators. I know if I was pony up that amount of funds I would not want to allow somebody else to be in charge of the drilling.

[onetimer]

correction by me. ORX will be the lead of the option portion for the 5 years or until they agree to a JV, then KL takes over operating it

[ggrellette]

These properties must have extreme importance to KL to allow them to be the operator for the first 5 years.

[Zooloo]

"they would need it if they built a mill nearby for the pe\roperties" I suppose that depends on how much ore they find near McGarry (Mirado, McGarry, Barber-Larder and most likely Omega), the volume of tailings that will produce and what the holding capacity of the tailings facility is. It might also depend on whether or not KL wants to take over Golden Candle as they may have a trump