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Mittlerweile hat Calico sich entschieden, sich ganz auf Grassy Mountain zu konzentrieren. http://www.marketwatch.com/story/calico-focuses-all-efforts-… Eine vernünftige Entscheidung. Calico Resources has begun the process of securing permits for the Grassy Mountain project, a consultant told the Ontario Chamber of Commerce in Oregon. Calico Resources Corp. (TSX: V.CKB, Stock Forum) is working to secure the permits it needs to build a gold mine and related processing facilities in Malheur County, in Eastern Oregon. According to a report in the The Argus Observer, a community newspaper, the permitting process will take about a year and a half, and will involve a number of federal agencies. The forecast is based on a presentation by consultant Andy Bentz, who spoke last week to the local Chamber of Commerce in Ontario, a community located on Oregon’s eastern border. The property itself is situated in Oregon, about 70 miles west of Boise, Idaho and 22 miles southwest of Vale, Oregon. A Calico spokeswoman in Vancouver confirmed that the company is seeking permits for the Grassy Mountain project, which it acquired from Seabridge Gold Inc. (TSX: T.SEA, Stock Forum) (NYSE: SA, Stock Forum) earlier this year. The site had been previously explored by Newmont Mining Corp. (NYSE: NEM, Stock Forum) and Atlas Precious Metals Inc. Under an amended option agreement announced on March 29, 2012, Calico acquired a 100% stake in the property from Seabridge. In return, it issued 11 million securities in what the company said was a to-be-determined combination of shares and special warrants. It also granted Seabridge a 10% net profits interest. Each special warrant entitles the holder to convert it into one common share of Calico, without payment of any cash, subject to the number of common shares held by Seabridge after conversion being less than 20% of Calico’s outstanding common shares. However, once Calico has completed a feasibility study and secured the necessary permits, Seabridge will have the option to sell the 10% net profits interest back to Calico for a one-time payment of $10 million. Calico has agreed that should Seabridge elect to sell the NPI for the $10 million payment and Calico is unable to make the payment, then Calico must return the property to Seabridge. Drill-indicated resources at Grassy Mountain now stand at 1.3 million ounces gold and 4.1 million ounces of silver. Bentz said a future mining operation could provide work for up to 150 people. http://www.stockhouse.com/Community-News/2012/June/25/B-C--c… |
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| aus der Diskussion: | Calico Extends Gold Mineralization |
| Autor (Datum des Eintrages): | valueinvestor (02.07.12 21:06:42) |
| Beitrag: | 17 von 37 (ID:43345036) |
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