Attended the Rencore AGM....
posted on
Jul 27, 2011 12:50PM
RENCORE EMERGES WITH PROVEN DISCOVERY TEAM
....yesterday. Glad I did.
There were only a handful of retail shareholders in attendance, along with a few industry professionals.
After the standard AGM business was completed, David Graham did a great presentation/update on Rencore activities.
The biggest challenge facing management is completing agreements with First Nations communities. The challenge is due to the fact that there are many small FN communities in Rencore's prospective areas that each have to be dealt with separately. Being able to meet with the leaders of each group, is not always easy, as those leaders go about their daily lives.
The good news however, is that Rencore is close to achieving these necessary approvals.
During the presentation, and in the question period after, Richard Nemis, John Harvey, and Dr. Jim Mungal all joined David Graham in answering questions. They are very excited about the prospects of drilling the several excellent targets defined by the VTEM surveys. It has been discussed on this site before that they believe these anomalies could be as good, or better than Eagle 1.
Due to excellent relationships with exploration industry people....drilling contractors, suppliers etc.....I believe Rencore will be able to drill sooner, rather than later, after all approvals are in place.
I asked about the possibility of the stock moving to the Venture exchange. I knew they were not allowed to answer that directly, however there was a general discussion on they pros and cons of the CNSX vs the Venture, and based on that, it is my guess that we will see a move sometime in the medium term.
In discussions after the meeting was adjourned, it is clear that they believe they have already found the next deposit(s). BTW, they are just as confident on Bold's prospects.
Holding with confidence,
Canseco