This project area has every possibility to be just as lucrative at the central timmins west camp activity furhter to the north-east. Unfortunately, VTEM conductors are being tested again which is very risky, considering that GCR tried to explore for gold with drill targets based on this technology over at Abitibi East with less than stellar results. Even West Timmins Mining CEO Darrin Wagner admitted that VTEM was useless for gold exploration and apparently they knew what they were talking about.
The major issue at this point is still the enormous dilution levels that the company has run themselves into due to past unconstrained financings to cover excessivelly large base metal property bases even at time where gold was the markets commodity direction . A very, very large gold discovery would need to be had in order to overcome this condition. This is still possible at HORWOOD we must admitt but ground based geophysics is really the only way to do this effectivelly.
We are shareholders who bought at 18 cents and are very concerned that a repeat of share prices around this level again will be attinable for some time to come.
