Stan Bharti on Alexis Minerals (TSX:AMC; OTCQX:AXSMF). "It's a small producer, with the Lac Herbin Mine in Quebec yielding 30,000-35,000 ounces a year. But in addition to being a small producer, Alexis has key plays in two other areas. Rouyn in northern Quebec is one of the largest historical gold copper camps in the world. It had more than 20 mines operating within an area of less than 800 square kilometers. All went to depth of about 2,000 feet. They stopped in the '80s because of the metal prices. Nobody did any exploration below a depth of 2,000 feet. We optioned these assets from Falconbridge, which became Xstrata Plc (LSE:XTA), and now Alexis has 100% of this exciting camp. We're confident that we'll be able to have major discoveries at depths between 2,000 and 6,000 feet. So in terms of blue sky Alexis is phenomenal."
"The other thing that Alexis did last year was acquire a company called Garson Gold Corp., which has the fabulous Snow Lake Mine in Manitoba. Previously known as the New Britannia Mine, Snow Lake was a historical producer for many years, and had not been fully explored. It was shut down in the early 2000s and still has close to a million ounces in a resource. It's fully permitted and the previous owner spent $200 million on a plant. We think we can activate it for $30 million to $40 million and produce 80,000-90,000 ounces a year at a pretty good cash cost-below $600 an ounce. That is what makes Alexis very attractive. Small production, expanding production and huge blue sky both in Snow Lake and Rouyn. "
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