PRODUCTION? From Broad Oak Investments:
Geoffrey S. Carter, Kristine E. Dunstan 416-594-6672 22 September, 2009
Broad Oak Associates
(A Division of 930531 Ontario Limited)
International Wayside Gold Mines Ltd. Research
"Soon to be Barkerville Gold Mines Ltd."
RECENT SHARE PRICE $0.65
52 WEEK HIGH $0.90
52 WEEK LOW $0.10
FISCAL YEAR END Feb 28
SYMBOL IWUB WYG
LISTED Frankfurt TSX-V
SHARES OUTSTANDING 36.1 Million
FULLY DILUTED 41.8 Million
MARKET CAP. 23.5 Million
INSIDERS 17%
MAJOR SHAREHOLDER
J. Frank Callaghan, President
INTRODUCTION: International Wayside,
soon to be Barkerville Gold Mines Ltd. is
the culmination of the consolidation of
mining companies in the historic Cariboo
gold belt near Wells, in central British
Columbia. The Cariboo Gold Project, along
with the QR Mine and Mill will be one
operating entity with more than 647,000
ounces of gold in the measured and
indicated resource category and another
286,000 ounces in the inferred category.
Wayside has now consolidated over 60 km.
of strike length and 20 km. wide along this
historic camp that has produced more than
1.23 million ounces from lode mining and
2.64 million ounces from placer/hydraulic
mining since the 1860’s.
We are optimistic regarding the future of
this stock during the coming months due to:-
• Production at QR and Bonanza Ledge
set to begin before year end
• Drilling at QR Mine, Bonanza Ledge,
BC Vein and at Cariboo Gold Project to
increase the reserves and resources
See Valuation Section, Page 15
HIGHLIGHTS:
• Once financed and permitted,
production is expected to start in late
2009 from the Bonanza Ledge and QR
mine with a planned first years’
production of 50,000 ounces
• Operations of all mining and milling to
be contracted out to seasoned
professionals with a successful
operating history
• At the QR Mine, Wayside has an
indicated resource of 392,320 tons at
0.148 oz/t (58,037oz) Au. North Zone
has potential, with a exploration
program, to expand this resource
• Bonanza Ledge deposit contains a
measured and indicated resource of
491,389 tons at 0.216 ounces of gold
per ton (“oz/t Au”) (106,126 ounces)
• Bonanza Ledge stratigraphy revealed
to the NW on the Wells Trend and NE
on Mucho Trend, adds to exploration
potential at the Cariboo Gold Project
• Company has an indicated resource of
6.6 million tons at Cow Mountain
grading 0.065 oz/ton gold per (430,885
ounces) and an inferred resource of 1.7
million tons, at a grade of 0.054 oz/ton |
