Charles Oliver, HBSc CFA
Geologix Explorations Inc
GIX-X
PARTIAL BUY
Jul 07, 2008
Actively looking in Mexico for a gold/silver deposit. Had some interesting results. Some great potential to be found. A lot of the small companies have been battered down and this is a time you should be picking away at them and using a basket approach.
Have property in Mexico and have pulled some outstanding holes. One was 243 m with 7 g per ton. Still at a “wait and see” stock, but have the right sense of discovery.
Geologist's dream. Have made some fantastic discoveries. Zinc, gold, silver. Low grade, but a lot of tons. Just starting it's promotion. Is his current top holding.
Speculative.
Still in early stage exploration, but results so far are quite positive. Have to see how drilling goes, but he is bullish enough on it to Hold. Future results could result in Buying more.
Haven't followed this one really closely but it certainly looks like a significant discovery. Very solid team behind it. Project is moving forward and it is in a good region.
Have to pay Silver Standard (who optioned the property) for every once discovered. May have to pay more than the capitalization of the company. May have to re-negotiate or give up part of project.
Developing an awesome project in Mexico. Due to put out a new resource estimate. He is optimistic. Have an option on the project but have to come up with money by March or else they don't get it. Management is extremely confident that they can handle it.
Future lies in raising capital to exercise an option that they need to do in the next couple of months. Took an option on a San Augusta property, did a tremendous job on developing tonnage and ounces and now it has come time to pay for that option. Have been working hard on a number of fronts. Thinks someone will come up with a way to give them money.
High degree of respect for the management team. It is an attractive preliminary assessment. You can trust the management team more than others. He will look at it carefully in the future.
They have a small oxide cap that will probably work, but it is not very large. Then there is a sulphate deposit but it is not very high grade. It depends on the metal prices you use. Tough low-grade deposit. Not something a mid-size company is going to buy. He prefers high margin deposits.
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