Re: Kerr's property
in response to
by
AGORACOM
Timmins & Beardmore - Northern Ontario
Focused on becoming a near-term Gold Producer
Message: Kerr, s property
SGX re: selling Kerrs:
"The Lake Abitibi area and Kerrs in general would require an ongoing commitment financially and time wise for years to come."...
From latest OAK-v release:
"Sheltered Oak will release its first results from the recently completed phase 4 drilling campaign at Kerrs within the next few weeks. The phase 5 drilling at Kerrs will comprise infill diamond drilling to commence and be completed in the second quarter of 2010. The results will provide the geotechnical data required to prepare an NI 43-101-compliant resource estimate of the mineralization. The resource estimate is expected to be published before the end of the third quarter of 2010."
From latest OAK-v presentation on website, slide 28, 'goals for 2009/10':
"OAK moving towards defining a resource in excess of 1 million ounces of gold at Kerrs"
FYI. 50% interest in potential 1M oz Au deposit (Q3 2010) sold for $500K and 2M shares of OAK-v.
red911
Re: Kerr's property
in response to Kerr, s property by w6w9t8015
posted on Nov 16, 09 03:23PM
Dear shareholder,
Thank you for your inquiry. The following response was provided by management.
The decision on the Kerrs deal was based on the fact that we have committed to focus on our prominent area being Beardmore-Geraldton. The Lake Abitibi area and Kerrs in general would require an ongoing commitment financially and time wise for years to come. It takes years to develop a potential mine and hundreds of thousands of metres of drilling, etc.
Our transaction with Sheltered Oak brought us a large amount of SOR shares and a cash component which was deemed fair at this juncture. This was all detailed in the PR by SOR this past summer.
Regards,
AGORACOM Investor Relations
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