Strategic Shift in Emphasis
We believe it is in the best interest of our shareholder's for the Company to focus on building cash reserves organically through production and sale of alluvial gold and from contract drilling and support services initially. From cash flow generated by these activities, our strategy will be to examine and, if justified, develop hard-rock gold production from the existing resource on Million Mountain Zone 1, and possibly from Million Mountain Zone 9.
Maximize Internal Cash Generation (Minimize Dependence on Capital Markets)
- Alluvial Production
- Contract Drilling
- Potential Production of Hard-rock Au Resources
Funded by cash flow from operations will be the expansion of the existing gold resource at MM Zone 1, as well as ongoing hard-rock exploration on the Company´s current portfolio of properties. As working capital balances permit, and as opportunities present, the Company plans further growth through M&A with synergistic targets and/or additional property acquisitions.
The company will also continue hard-rock exploration of its existing portfolio funded entirely by internally generated cash flow and will also engage technical specialists to assist in-house Geologic team.
- Conduct Preliminary Exploration Work on Two Promising New Areas (Mara Mara & A41 Block)
- Follow-up Drilling on Million Mountain Zone 9 (Resource Development)
- Continue Drilling on Million Mountain Zone 1 to Expand Resource
- Scout Drilling on Mara Mara and A41 Blocks as warranted
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