I have been in contact with the company (Wally Bucknell) and as projected, the Definitive Feasibiltiy Study, due for completion in the June 2010 quarter, has been completed.
It is in the process of being collated, and the applicable results will be released as early as next week.
One can only surmise that the study will show a profitable mine can be established at Touquoy in Nova Scotia, as the first step in ATV becoming a substantial producer in the area i.e. moving on to Cochrane Hill, potentially extending current resources, as well as new regional exploration in an underexplored region. These 2 projects (Touquoy & Cochrane Hill) in themselves have already been scoped as being able to produce in excess of 900,000 ounces of gold.
This milestone should mark the beginning of some further notable progress for the company in the not too distant future as follows:
* progression of moves towards a possible merger or other arrangement, with a TSX listed company, through Haywood Securities. Recent communications from ATV advised that completion of the Feasibility Study was required, at which stage negotitions with already interested parties could continue, and be finalised as applicable. * the ability to progress sourcing finance for the development of the initial mine at Touquoy.
To all longstanding shareholders it would appear we are on the cusp of the company being able to actively progress towards the mining of gold, with some company defining steps occurring as an outcome of the groundwork that has been done.
ATV Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
