Valkea Resources (TSX.V:OZ – OTCQB:OZBKF – FSE:S600) has resumed trading today after completing the acquisition of a portfolio of gold projects in the central Lapland greenstone gold belt in Finland.
Chris Donaldson, President and CEO of Valkea Resources joins me to provide an overview of the projects and exploration strategy.
We focus primarily on the Panna Project. This project is located near the Kittilä mine, Europe’s largest gold mine, and hosts walk-up drill targets on the back of discoveries made by the last owner of the project, Australian company S2 Resources. Initial drilling intersected nearly 7 meters at 12 grams per ton (g/t) gold and 20 meters at 4 g/t gold.
Valkea Resources is strategically positioned with several 100% owned projects and joint ventures with industry majors, Kinross Gold and Rupert Resources, who are also active in the area.
Financially, the company has raised $5 million to close the acquisition, leaving them with about $3 million in the bank for immediate exploration activities. The company has planned a $1-2 million drilling program over the next 12 months. Chris also sheds light on the company’s share structure post-transaction, totaling just over 32 million shares outstanding, giving them a market cap around $13 million CAD.
Any follow up questions for Chris, please email me directly at Fleck@kereprot.com.
Click here to visit the Valkea Resources website to learn more about the Company.