In this segment of The Ellis Martin Report, Ellis speaks with David Watkinson, the CEO of Emgold Mining Corporation (CVE:EMR) (OTCMKTS:EGMCF) about the sale of the company's B.C. assets to Ximen Mining (CVE:XIM) (OTCMKTS:XXMMF) in addition to providing an overview of the company's program through spring of 2020.
Emgold Mining Corporation
Emgold is a junior gold and base metal exploration company focused on Nevada and Quebec, the #1 and #4 jurisdictions for mining investment according to the Fraser Institute's Annual Survey of Mining Companies, 2018. The Company's strategy is to look for quality acquisitions, add value to these assets through exploration, and monetize them through sale, joint ventures, option, royalty, and other transactions to create value for our shareholders.
Emgold's assets include the New York Canyon Property, NV which is under an option to joint venture agreement with Kennecott Exploration Company, a subsidiary of Rio Tinto PLC's (LON:RIO). Kennecott Exploration can earn up to a 75% interest in the property by expending US$22.5 million after which a joint venture will form. The Casa South Property, QC is adjacent and south of Hecla Mining Corporation's (NYSE:HL) operating Casa Berardi Mine.
The Buckskin Rawhide East Property, NV is an inlying property to Rawhide Mining LLC's operating Rawhide Mine. The East-West Property, QC, 50% owned by Emgold, is adjacent to and on strike with Wesdome Gold Mine Ltd.'s (TSE:WDO) Kiena Complex (past producing Kiena Mine) and Osikso Mining Corporation's (TSE:OSK) Marban Block (past producing Marban, Norlartic, and Kierrans Mines). Note that the location of Emgold's properties adjacent to producing or past producing mines does not guarantee exploration success at Emgold's properties or that mineral resources or reserves will be defined. For more information on the Company, investors should review the Company's website at www.emgold.com or view the Company's filings available at www.sedar.com.
Emgold (CVE:EMR) and Rio Tinto Plc. (LON:RIO) Sign Earn-In With Option to Joint Venture on the New York Canyon Property in Nevada
Join Ellis Martin for a conversation with David Watkinson, the President and CEO of Emgold Mining Corporation (CVE:EMR) (OTCMKTS:EGMCF)(FRA:EMLM).