Interview With: Mr. Crandell Addington Chairman & Director
Kip Williams Project Manager Lou Kost Director & Secretary
Gold Reef International, Inc.
CNQ: GRIN
Sector: Mining and Metals
Interview With:
Mr. Crandell Addington
Chairman & Director
Kip Williams
Project Manager
Lou Kost
Director & Secretary
Dated June 26, 2006
wallstreetreporter.com
Location Management
181 University Avenue, Suite 2200
Toronto,
CAN M5H 3M7
Phone: 210-325-5797
Website
E-mail
John F. O’Donnell
President, Chief Executive Officer and a Director
Crandell Addington
Chairman of the Board of Directors
Maxwell A. Polinsky
Director
William L. Shaffer
Director
Bryan A. MacBride
Director
Clifford A. Wiebe
Director
Lou Kost, Jr.
Secretary and Director
Dr. Sadik M. Al-bassam
Director
CORPORATE INFO
Gold Reef’s business objective is to acquire, explore and develop prospective natural resource properties. Initially the business focus will be to conduct exploration on the Company’s projects in Nevada, in accordance with the exploration programs, including, among others, Golden Trail and Texas Canyon. Gold Reef will also continue to seek out other mineral exploration properties of merit.
Transcript of Interview
WSR: Bring us up to speed on the company’s project and property portfolio.
GRIN: In 2004, Marston, as an independent contractor, started working with Gold Reef of Nevada, a wholly-owned subsidiary of Gold Reef International, to look at some gold projects they had in Nevada. We looked at 37 targets and did surface sampling, surface mapping and land analysis on them. We identified gold anomalies on 27 of the targets and pathfinder elements, associated with gold, on 32 others. We prioritized those targets in 2004, conducted geochemical surveys and geologic mapping on those targets; in 2005, we have followed up doing detailed sampling, mapping and claim staking. We developed exploration plans, including drilling plans, for those five gold targets, and we have staked a total of 525 unpatented mining claims on BLM land totaling 10,000 acres. Each of the targets we have done the work on so far shows evidence of precious metals, gold and silver, as well as the possibility of some copper and molybdenum mineralization. You can see some of the results on three of our claim blocks on our website: www.goldreef.ca.
WSR: Expand on the main plays here and give us a better feel for the infrastructure in place.
GRIN: All of these targets are located in Northeastern Nevada, in proximity to the Carlin and Battle Mountain trends, near Elko Nevada, which currently supports the major gold developments and mining operations in Nevada. The location of the targets is very well-positioned for development of future mining operations.
WSR: Will the company look to strategic alliances or joint ventures moving forward?
GRIN: Our strategy includes both.
WSR: On the M&A side, will the company look to increase its position and expand its holdings by way of additional acquisitions in the near to mid-term?
GRIN: We are an exploration company; it’s not our strategy to acquire other juniors. We will continue to expand our claim holdings in Nevada as exploration results dictate. We are interested in developing joint ventures with the major mining companies.
WSR: What is unique about Gold Reef International?
GRIN: We have developed and customized an intranet-based proprietary data management system that enables us to quickly access and evaluate our geologic, geochemical, and geophysical data using a simple web browser. The system allows us to fully integrate complex technical data and generate composite maps and/or data sets. The system is also quite useful to keep investors and company management up to date on field programs and field results. The system is unique, very powerful, and allows quick decisions by the company management to capitalize on business opportunities discovered by our field crews.
WSR: Does the investment community understand this company and the direction it’s going in?
GRIN: Right now, there hasn’t been much interaction with the investment community.
WSR: Is the company attempting to educate them?
GRIN: We are in the process of hiring an IR. To direct our efforts in that area, we will be holding a meeting in our Toronto offices next month.
WSR: In closing, why should investors consider Gold Reef International as a long-term investment opportunity?
GRIN: We are an exploration company; historically, junior gold exploration companies have been very successful in discovering major gold deposits, which are subsequently developed by major mining companies. Article after article shows that gold exploration companies, particularly those with proprietary advantage, have outperformed the purchase of gold or any other method of gold play participation. We believe that our exploration program, proprietary data base management system, and cost efficient management strategy will enable us to benefit from our position in the marketplace. Our cost efficient management strategy has led us to outsource project management to Marston and Marston, a very well-known international firm that is comprised of higher quality geological and engineering personnel that we would not otherwise be able to afford if they were in-house employees. Additionally, our prospects are located in Northeastern Nevada, the hottest gold exploration play in the world. The evidence from the seven or eight prospects we are working on right now demonstrates that our exploration strategy and our proprietary tool are effective. See our website www.goldreef.ca for some results. This, combined with the project management team provided by Marston and Marston, continues to build unique value for our shareholders.
END
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