As we prepare for our upcoming visit to northwest Quebec, and during that visit, we will likely be sending out some special BMR eAlerts.
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Brilliant idea.. thanks Jon, John & Terry
Comment by Andrew — August 20, 2011 @ 4:15 am
theodore, your 70,000 shares of SD probably came thru on the alpha exchange. I just checked alpha, and they had 76,000 volume on the 16th
Comment by dave — August 20, 2011 @ 9:07 am
Hi Jon,
Do you figure that this is a good entry point for CQX at 10 cents? or do you figure that further weakness could push it even lower? We know that there pockets of high grade gold all over that area and VGD’s first drill hole in the area has proven that. I think we are on to something big here but the price seems to continue to drop.
Comment by Ed — August 20, 2011 @ 11:31 am
Thanks Dave… I learnt something here.
Comment by Theodore — August 20, 2011 @ 12:02 pm
Hi Ed, Richmont is coming out with a major exploration update on Wasamac any day now. I definitely see value with CQX for 2 reasons: #1, VGD is getting early exploration success at Wasa Creek and has outlined good potential for Wasa East (60% VGD, 40% CQX). #2, Cadillac of course holds a 100% interest in 7 strategic claims adjoining the northern boundary of the north-dipping Wasamac deposit. Richmont has already reported that the Main Zone at Wasamac is widening at depth. No one knows for sure of course until drilling proves it one way or the other, but it’s quite possible the Wasamac deposit extends onto Cadillac’s ground at depth. One of a number of geological theories is that the “heat system” for the Wasamac deposit actually originates on Cadillac’s ground. Who knows. In any event, Wasamac is a very exciting story and one that the general market just isn’t really aware of yet—-but that’s likely going to change. I wouldn’t be surprised if this turns out to be a 5 million+ ounce deposit. It’s going to be big and it’s going to go into production. Cadillac’s disadvantage right now is the fact they only have $200,000 or so in their bank account. What makes sense to me is that they option these 7 claims to VGD and let VGD, with its much better financial position and greater overall resources, do the heavy lifting. That way, the combined VGD-CQX land package would surround Richmont from all sides and VGD would explore aggressively everywhere. Richmont, VGD and CQX are each really exciting in my view given how Wasamac is shaping up. This is a new mine being born, and just like Wasamac itself — the area surrounding the Wasamac deposit has not been properly explored over the years, until now with VGD going in with 3 rigs. Everyone needs to pay attention to what’s unfolding at and around Wasamac – major story in the making…
Comment by Jon - BMR — August 20, 2011 @ 5:18 pm