Buscar Company (CGLD)

[moneymarkets]

New President Thomas Heathman is now in charge of the operations of the company as former management begins transition to shareholder status with no involvement in the day to day.

Mr. Heathman and four other team members (all of which are shareholders in CGLD with a vested interest in ensuring the success of the company) will be on site August 15, 2020.

Mining and milling equipment has been ordered and should be in place within a couple of weeks of the team setting up to begin operations.

The initial focus will be on the required 2020 assessment work where 1000 tons of ore will be mined and processed at around 6-8 tons per day.

The required 2021 assessment work will take place January through April of 2021 where another 1000 tons of ore will be mined and processed, so that’s eight consecutive months of activity.

The filed Plan of Operations consists of two phases and the company feels that phase one can begin summer of 2021.

The original milling unit can process up to 10 tons of ore per day and is scalable. Additional milling lines can be added as production increases.

The company will be providing monthly mining results for shareholder review in the form of settlement reports from the 3rd party refinery. The company can be paid in cash or keep the bullion in a vault for sale at a later date.

Since the company has 10 or fewer mining claims, the company can perform assessment work and file evidence of the assessment work (43 CFR Part 3835). Per the BLM - assessment work includes, but is not limited to, drilling, excavations, driving shafts and tunnels, sampling (geochemical or bulk), road construction on or for the benefit of the mining claim; and geological, geochemical, and geophysical surveys. The Company will need an approved Plan of Operation if and when activity could likely cause “significant disturbance of surface resources”.

You can hear the company's first podcast yourself at the link below:

https://www.buscarcompany.com/podcast