The reason I cut the pit outline off is because of Lake Kasagiminnis to the East, and I'm not convinced that bulk mining in significant lakes is palatable in Ontario 2024. So where does that leave us?
Why not follow the ironstone westward towards Sky Lake.
The company owning the tenure along strike to the west is New Origin Gold
They have a market cap of $1m USD
They had plans to drill between our JORC and their existing Koval deposit in 2024.
Here is their 2023 technical report on Sky Lake https://www.neworigingold.com/_files/ugd/9d459d_bf6bb5dc0b054d0c9b5933538462a8a0.pdf
They sold another deposit to O3 Mining Co. and committed to a $1.3m CAD placement in January
That placement has since been extended once in March and now shelved til further notice.
They have sold their O3 Mining shares and things are looking tight.
They have not updated this on their website as yet....
https://finance.yahoo.com/news/neworigin-announces-cancellation-north-abitibi-110000897.html
Considering Ardiden have stated they are still actively considering value accretive acquisitions.....
I would consider this company a logical acquisition / merge / earn in for Ardiden - what do fellow holders think?
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-11
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