Black Hawk (BHK-tse) is a gold producing compagny ,with 1.5 million oz
gold resources.
Estimeted gold production:
1996: 40.000 oz
1997: 50.000 oz
1998:100.000 oz
After the taking over of Granduc,Black Hawk controls the following
properties:
-Keystone mine gold producing with 2.8 million tonnes grading 3.5gr/t
-Bold Mountain property
-Brucide (40% BHK,60% Newhawk;mineable reserve of 350.000 oz gold
Newhawk is selling its interest to Canamera for $8 million)
-The Hoyle and Hollingworth properties in Timmins area.
Kinross is investing $1 million for drillings and $12 million for
the development of this property in order to gain a 50% interest.
After being hard hit by the market on poor financial results, Black
Hawk is expanding its production at the Keystone mine ,reducing
costs and developping its best prospect the Hoyle property,its on the
right track for a nice recovery,the stock could double in a short
period,drillings results could have a great impact on the price,as
the financing for the mine is in place.
Closing price for Oct 31/96 0.51c +7c volume: 428500 shares
I do own shares in BHK;as usual do your homework before buying. |
