Roxmark Roadshow.......Toronto Report....
Here goes:
There were about 50 people in attendance.
Representing the Roxmark were Monir Younan and Philip F. Cunningham.
Was told Jim Richardson was there but I did not see him
(he did not speak anyway).
The presentaiton lasted about 40 minutes with some questions.
What's new:
-Northern Empire Mine -
Slides showed Contact Zone drilling done confirmed 25,300 ozs.
as NI 43-101 compliant(proven) with inferred 300,000 ozs.
They report drilling only the surface of the Contact
Zone above the diabase.
Monir said the mine has "resources to justify re-opening it".
They also indicated that they were not doing more
surface drilling in this area.
They feel confident about the 10M estimate to de-water
and re-open this mine but did not say exactly how they
were going to raise the money.
When asked about a JV for this project, they indicated
that they would prefer to operate this mine on their
own without a JV partner but also, did not rule that out.
Local government is re-training forestry worker to
operate this mine.
The re-training will be paid for by the government and
not RMK.
Regarding their mill, it was said that they will
provide "custom milling" to interested parties as
a source of revenue.
The mill can be easily upgraded at "minimal cost"
to 500 TPD.
What was interesting was the fact they reported that
the mill has already had its closing costs paid by
the previous owner.
Therefore, when they are finished with it,
they can simply walk away from it, at no cost.
Their focus seemed to be on the Nortoba-Tyson Moly & Gold
property.
There is a second bulk sample underway.
They also reported that they have found significant copper
along 400m strike.
Also, they plan to drill gold viens No. 1 & No. 2
in the spring of 2008.
They suggested that gold values here are better than 1 oz.
per ton.
They are also stripping, channel sampling and mapping in
this area.
They seemed to be the most excited about this area and
the gold & moly prospects it holds.
Regarding the Geraldton JV with PG, Monir confirmed that
PG has five cors samples with visible gold and that PG
is "EXTREMELY EXCITED" about their progress to this point.
They can't wait to drill "paraell structures" in the area.
He also said that PG will spend 8.5 to 9 million here and
not the 7 million previously reported.
The first year will see 2.5 million spent on this mine.
Also, Monir said that PG could gain up to a 51% ownership
in the LLMine and not the 70% previously reported (maybe
this was a mistake on his part).
Cunningham said he liked the "macro environment" for gold
and also said he got involved because of his confidence
in STan Malouf whom he has known for 40 years.
He also suggested he wanted to diversify his holding
and thought RMK was an excellent way of doing it.
He kept saying the word "potential" and indicated that RMK
was just "scratching the surface".
Cunningham seems to be the brains behind this in a
Cheney-Bush kind of way.
That is fine with me as Cunningham was probably the reason
so many industry people were there today.
All in all, it was a professional presentation, not over
slick and right to the point.
This area is "heating up" and good things will come to
holders of RMK.
GLTA
By: arachne
at another RMK forum
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