Charles Funk, President and CEO of Heliostar Metals (TSX.V:HSTR – OTCQX:HSTXF) joins us to discuss the acqusition of the Ana Paula Project and options agreement on the San Antonio Project. Here are some of the highlights of the transaction.
- Ana Paula is permitted for an open pit mine with measured and indicated (M&I) mineral resources of 1.46 Moz gold at 2.17 g/t gold and 3.27 Moz silver at 4.8 g/t silver1
- San Antonio is a high grade oxide resource containing M&I mineral resources of 1.73 Moz of gold grading 0.83 g/t gold2
- The purchase price for Ana Paula is US$10.0M cash. Subsequent milestone payments, are comprised of US$10.0M of cash payments and US$10.0M of cash or share payments.
We review each project with Charles including the initial work plans. We also discuss how these assets along with the Unga Project, in Alaska, fit into the overall corporate strategy.
If you have any follow up questions for Charles please email us at Fleck@kereport.com and Shad@kereport.com.
Click here to read over the full news release outlining the acquisition.