Equitas Resources making the move to become a gold producer
The new Equitas Resources (TSXV : EQT) President and CEO Chris Harris joins us to discuss the new completed acquisition of Alta Floresta Gold. This is a change in direction for Equitas in the aspect that Alta Floresta has properties in Brazil and management is focused on cash flow in the near term. We also discuss the benefits to working in Brazil and the new management team.
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Here is a summary of the news…
Equitas Resources Corp. (TSXV: EQT) (US: EQTRF) (FSE: T6UN) is pleased to announce that it has finalized the acquisition of Alta Floresta Gold Ltd. Alta Floresta Gold has also increased its working interest in all of the Brazilian gold properties from 60% – 100%. Equitas through Alta Floresta Gold indirectly owns a 100% interest in six gold properties with four production licenses, and over 184,410 hectares in Central Brazil.
I wonder if the Moose may be eating well tonight in the tiny pasture………………
“Moose” and “tiny pasture”?
that’s what brent cook calls mines that will never make it into fruition!
Al:
It appears to be undercapitalized at 6 million with about 1.5 million in the bank for exploration and apparently no debt. I may hedge my doubts with 100 shares which can be purchased for less than two cups of Starbucks. Will double check the figures on Scottrade in case I misread the info.
Al:
Just re-checked the above figures and they are correct.
1.5 million (presumably Canadian?) for building a small mill and exploration appears to be too light unless they can get something in production quickly. IMHO.
Do you guys not listen to the interview? From my DD, this company has $2M and is already producing. It will cost them $300K for their first gravity plant and then will spend money proving up the surface oxides. I like their approach as they don’t want to build up resources to claim they have a big mine they want to put the mineralized zones into quick production. Entrepreneur style. I like it.
CP
I just checked out their stock. Not impressed. ASM seems like a better bet at the moment.