Very basic summary of Placer news conference (note form)
Willson:
-This project is siuted to Placer
- like the team with Bema
- will be back on the property shortly
- like the upside on the exploration potential
- located in the same building as Bema
- outlined the teechnical aspects of the financing
- many questions surrounding feasibility and timelines - 2yrs to do their own feasibility
- haven't seen MRDI but hope to use it and have no reason to doubt it
- Placer has obligations to do feasibilty, decide whether or not to proceed, be responsible for the senior debt, decide whether or not to build the mine
- will have interest in all of Aldebaran
- will earn their interest if they meet the obligations
- in naswer to a question they see a lot of upside potential in Roman and Romancito and Eva
- they have high confidence that the taxation question in Chile has little support and was a trial balloon
-they drilled CC to do DD but have not drilled the other targets but have quite a bit of detail
-will spend the 15 million drilling the best targets likely on Roman, Romancito, Eva which likely will contain similiar grades but may be shallower
-have confience they can mine and put the 150,000 tonnes through, may even increase that, 100,000 is minimum but feasibility will determine that
- their evidence on the other three properties comes from 17 and 40 drill holes plus trenching results
-when asked what attracted them the answer was CC but more attracted by the whole Aldebaran
- in reply to what is the urgency now when they haven't seen the MRDI report, the reply was they have been doing DD since May, there comes a time for a transaction
- wouldn't divulge details of their own pre feasibility
- when asked if others were interested, replied don't know
- the prez's summary
- lot of work to do
- will get working on it
- will manage the whole process
- like to more agreements of this type with companies like Bema
- very optimistic
- will keep everyone upto date
Humbly submitted as accurate as I can make it from notes
Anyone else who listened please help me out on the financial arrangements
My opinion:
they trust MRDI
don't quarrel with Bemas figures
are goin to get down to it
Wayne |
