Granada Gold Mine Inc (TSXV:GGM)
Granada Gold Mine Inc. is a TSX Venture Exchange listed gold acquisition, exploration and development company based in Rouyn-Noranda, Quebec, Canada. The company is focused on developing its Granada gold mine in Rouyn-Noranda, Quebec.
|10 Days Avg Vol||0.00|
|3 Mo Avg Vol||83,080.69|
|52 Wk Lo/Hi||$0.145 - $0.420|
|YTD Price Gain %||-34.78%|
|12 Wks Moving Avg||0.194000|
|200 Days Moving Avg||0.233275|
Granada Gold Mine Inc. is a Canadian junior mining company whose current focus is the development and continued exploration of the Granada Gold Deposit in Quebec, Canada. The large, high-grade, quartz vein deposit is situated in the heart of the famous Abitibi Greenstone Belt and along the prolific “Cadillac Trend” where there are many mines and over 50 million ounces of gold have been produced since gold was discovered in the region in the early 1900s. The Granada deposit is located 15 minutes from Rouyn-Noranda, Quebec by paved road with excellent infrastructure and skilled labour available.
- Mine plans aimed to achieve production goal of 100,000 oz/yr gold within 3-5 years.
- Shareholders to benefit from dividends:
- 5.0 million shares of silver-cobalt explorer Castle Silver Resources Inc. (TSXV: CSR), along with 5.0 million warrants, to be distributed to GGM shareholders.
- 3% net smelter royalty (NSR) to be paid as gold or cash dividend to shareholders after Granada production begins.
- 1% NSR on properties owned by Castle Silver to be paid out as cash dividends to shareholders.
- Given the sizeable number of gold ounces recently reported for the property, management believes the company is currently undervalued compared with similar properties in the area (details of comparisons are available in the company’ presentation document).
As of Aug, 2017
Granada Gold Property
- The company’s exploration activity since 2006 has discovered millions of ounces of high-grade gold near the surface and deep underground at Granada.
- This mesothermal, structurally controlled vein deposit rests in the heart of the prolific Cadillac Trend where over 50 million ounces of gold have been produced historically between Rouyn-Noranda and Val d’Or.
- Located in a friendly, safe jurisdiction with easy access and infrastructure.
- In discussion for a possible milling agreement with local mills – With mining permits obtained, the company would be in a position to ship ore very soon after agreement.
Recent Exploration Results:
- Genesis Target identified – Potential “heat engine” for gold mineralization.
- Maiden Underground Inferred Resource of 10,386,500 tonnes grading 4.56 g/t Au at a cut-off grade of 1.5 g/t Au (1.5 million oz Au) along 600 m of strike east of Genesis Target.
- Technical Report recommends $21 million drill program potentially targeting 10-15 million tonnes at 4 to 6 g/t in complement of the existing mineral resources.
Frank J. Basa, P.Eng.
President, CEO and Chairman
Since 2004, Mr. Basa has directed the successful exploration of the Granada gold deposit, engineering and feasibility work, and permitting. Mr. Basa has over 28 years of global experience in gold mining and development as a professional hydrometallurgical engineer with expertise in milling, gravity concentration, flotation, leaching and refining of precious and base metals. He is a member of the Professional Engineers of Ontario and a graduate of McGill University.
Claude Duplessis, Eng.
Since 2010, Mr. Duplessis has supervised the exploration and drilling of the Granada gold property. He is currently the owner and managing director of the Quebec-based GoldMinds Geoservices Inc., experts in orebody modelling and resource estimation. He previously was a manager and consultant with Geneva-based SGS and has over 25 years of global experience in the mining sector. Mr. Duplessis is an independent qualified person in accordance with National Instrument 43-101.