The Gold Report
Notable Quotes
"ICG has closed a CA$2.5M flow-through placement." (12/24/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report More >
"The exploration upside at MAG's Juanicipio project is substantial." (12/23/15) MAG Silver Corp. - Gwen Preston, Resource Maven More >
"AKG's management continues to deliver on its development milestones." (12/22/15) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities More >
"We are initiating coverage on KDX with a Buy rating." (12/21/15) Klondex Mines Ltd. - Don Blyth, Paradigm Capital More >
"VIT's Eagle is a shovel-ready, fully permitted, prefinanced gold project." (12/17/15) Victoria Gold Corp. - Tom Hayes, Edison Investment Research More >
GIX: Cashed Up and Ready to Drill 2,000m
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CHRIS THOMPSON, Haywood Securities
(11/09/2010)
"In October, Geologix released the results of a positive PEA on its Tepal gold/copper porphyry project in MichoacĂ¡n State, Mexico. . .A key near-term objective for Geologix is expanding Tepal's current copper/gold resource base and testing exploration targets to enlarge the scale and economics of the project. The PEA, which was based on the existing resource estimate without including additional drilling from the campaigns during the summer and fall, envisaged an open-pit mining operation producing 989 Koz. gold and 351 Mlb. copper over its mine life at a life-of-mine cash cost of US$358/oz. gold or US$1.09/lb. copper on a co-product basis. The study yielded an NPV of US$258M, at a 5% discount rate and a 28% internal ROR. Geologix is currently undertaking an 11,500m drill program composed of 55 holes, 23 of which are testing around the North and South Zones, with the balance testing multiple newly delineated targets to the east of the current resource zones. With a healthy treasury, topped up from a recent $2.3M financing this summer, a steady stream of news flow vĂs-a-vĂs drill results from the current campaign, and an aggressive drill program planned for 2011 (a minimum of 2,000m), Geologix is primed for an active drill season over the coming quarters." |
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