Mijn Post op CEO:
PP has closed; Galway will now bring on a steady flow of results from its projects.
A Resource upgrade of the North & South Zone but also the new zones (George Murphy, Jubilee and latest discovery Richard zone). Results form their winter drilling campaign should come in anytime now.
The extra drill on Clarence Stream should increase the news flow substantially and I am looking very much forward to results of the ‘Wildcat’ drilling in high priority targets. (they have been excellent in identifying targets)
CEO Robert Hinchcliffe:
“All 5 zones at Clarence Stream have multiple structures with good grades and widths, and all of them remain wide open for expansion. There are also many strong and never-before-drilled targets to probe for new discoveries. As such, Galway has mobilized a 2nd drill rig to the property, which is expected to arrive in coming weeks. Once drilling recommences after the snow melt, Galway’s goal is to initially expand both Richard and Jubilee, with one rig on each zone, and to then drill the recently-discovered Richard Zone with both rigs in order to define a resource there. After that, the 2nd rig will seek to drill high-priority wildcat targets to make additional new discoveries, and to also expand the area north of the North Zone. Having 2 drill rigs provides Galway with significantly more flexibility to make new discoveries and to expand existing zones at Clarence Stream, which we believe is an emerging new gold district in eastern Canada.”
Estrades: PEA end 2019
Cash Position: $13M
A substantial increase as of lately which is a massive vote of confidence and will prove to be benefitial to all shareholders, retailers included!
I believe that Hinchcliffe will do what he has done very succesfully before. In 2020 he will spinn-off the company and move on with the parent company to develop e.g. Clarence Stream. Estrades will be the subsidiary newco and in charge of Estrades.Timeline:
1) Resource Update GMZ (soon)
2) Announcement of a partner (second half 2019)
3) Resource Update Estrades (soon) followed by a PEA (end 2019)
4) Take out (early 2020)