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Gold/Mining/Energy : Core Gold Inc -- Ignore unavailable to you. Want to Upgrade?

To: Rocket Red who wrote (1872)	12/7/2017 11:55:25 AM
From: pstad60	Read Replies (1) \| Respond to of 2131

Rocket Red, That is IMGold's loss then, isn't it. We'll agree to disagree. The company discovered over 2 million ounces at Dynasty Goldfields, a good portion of the resource is from surface, and the company has started exploiting those resource in 2017. There was an initial discovery at another of their projects known as Copper Duke. The Copper Duke discovery was of sufficient potential that Ian Telfer had negotiated a deal with a third party to buy it from Dynasty Metals and Mining. That deal was cancelled due to the implementation of the Mining Moratorium that Ecuador announced in 2008. This company is not dependent on the successful discovery of a new deposit. But positive drill results from Linderos and/or Copper Duke will provide some added interest. Q3 2017 financials reported an operating loss of $103,000 from 4233 ounces from a number of small open pit mines at DGF. The company has already reported 2215 ounces of production for October. They are projecting around 6500 - 6700 ounces for Q4 2017. Most of the company's operating costs are relatively "fixed" with slight variable costs to inputs dependent on production volumes. If the company does come through with 6500 ounces, there should be a small operating profit in Q4. Debt levels will come down through continued payment of the monthly debt repayment schedule that was negotiated and announced in June's corporate update. The balance owing on Dec 31, 2017 should be $7,150,000. It appears that the earlier financings this year have been providing the funds to deal with the debt repayment schedule up to the present time. All three placements that are already completed were over subscribed, and management participated in the first placement. The recently announced $15 million debt facility will see the $4.5 million debt, held by VERTEX , rolled into the debt facility, the mill will be upgraded to 2000 tonne per day capacity with an expenditure of $3 - $4 million. That will leave the company with somewhere around $5 - $6 million undrawn on the debt facility to be used for corporate purposes ... ie. drilling campaigns at Linderos and Copper Duke. The balance sheet is slowly being cleaned up and will continue to improve in 2018, especially after the upgrade of the processing plant to 2000 tpd and the expected increase to production ounces. As a small scale miner in Ecuador, the company is allowed to mine up to 1000 tpd from each concession they hold at DGF. They can also mine up to 1000 tpd by open pit at Linderos, should drilling prove the surface showings continue to depth. The small scale mining category also allows up to 300 tpd from each concession .... if the company chooses to re-start production again at the Cabo De Hornos mine at the Zaruma Project, or eventually start underground mining operations at Dynasty Gold Fields. Small scale miners pay a 3% royalty to the government. Medium scale miners can extract from 301 - 1000 tpd from underground and 1001 - 2000 tpd from open pit mining. Medium scale miners pay a 4% royalty to the government. Unlike large scale mining projects in Ecuador, there is no exploitation contract required for small and medium scale miners. Core Gold could eventually apply to the mining ministry as a Medium Scale Miner and would only have to pay an additional 1% in royalties. Drills will be turning soon enough at Linderos, and the company has hinted they will be drilling at Copper Duke in 2018 as well. The company currently has three drill rigs of its own. If you do not like the speculation and risk to this company, that's OK ... everyone has their choice to pass on by. Best of Luck !

To: Rocket Red who wrote (1872)	12/14/2017 11:49:34 AM
From: pstad60	Read Replies (1) \| Respond to of 2131

Rocket Red One further clarification. . "what they are mining is useless that's why img sold them the property " Your statement provides a little more proof of the incorrect perception the market continues to hold of company. IMG once controlled a lot of the concessions that compose the company's land holdings at the Zaruma Project and sold those concessions to Dynasty Metals and Mining in the early 2000's IMG had nothing to do with the properties that compose the concessions at the Dynasty Goldfields Project where the company has started open pit mining, or any of the other concessions that Core Gold holds along the Andean Copper-Gold Belt that extends into southern Ecuador from Peru. Two exploration drilling campaigns stating in early 2018 on the newly discovered Linderos Project , and the Copper Duke Project. Best of Luck. .