Bob Moriarty of 321 Gold discusses Secova Metals’ fascinating enterprise mannequin for reprocessing tailing piles from previous manufacturing mines.
One in all our advertisers at 321 Gold has an fascinating enterprise mannequin for reprocessing tailing piles from previous manufacturing mines whereas restoring the location to protected requirements. At a revenue. I at all times like listening to that phrase.
The corporate is known as Secova Metals Corp. (SEK:CNX). They need to reprocess tailings from the Montauban Mine in Quebec that operated on and off from 1919 till 1990 producing gold and silver. There’s an current 43-101 useful resource of 750,000 tonnes of 0.86-g/t Au eq permitting for 4.4 years manufacturing to provide 50,000 ounces of gold with credit for mica and silver as nicely. On the finish of the preliminary program, Secova believes they will define and mine a further 9 to 12 years of manufacturing from a historic 43-101 3.6g/t Au useful resource.
Secova is absolutely permitted for a 1,000 TPD mill. The mill constructing and infrastructure has been accomplished. Alphard Engineering from Montreal has simply accomplished Mill engineering. A lot of the mill tools has been sourced and is being delivered to the location. Set up started in January 2022 with deliberate manufacturing for fall of 2022.
Secova has been engaged on a PEA for the laborious rock part of the plan. They anticipate to launch it in spring of 2022. To lift cash for the completion of the mill plant, the corporate introduced a $5 million convertible debenture with a ten% coupon.
As well as, Secova has a Plan B undertaking they name the Eagle River/Windfall Lake undertaking situated adjoining to Osisko’s Windfall Lake Mission within the City-Berry space of Quebec.
Secova has an fascinating plan that I’m sure has the complete approval and assist of the provincial authorities. There are plenty of outdated mines in Canada that want cleansing up. If they’ve a enterprise mannequin that matches, it may be a superb deal for everybody.
Secova is an advertiser. I don’t personal shares however am nonetheless biased so do your personal due diligence.
SEK-C $.105 (Feb 04, 2022)
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Secova Metals web site
Bob Moriarty based 321gold.com, along with his late spouse, Barbara Moriarty, greater than 16 years in the past. They later added 321energy.com to cowl oil, pure gasoline, gasoline, coal, photo voltaic, wind and nuclear power. Each websites characteristic articles, editorial opinions, pricing figures and updates on present occasions affecting each sectors. Beforehand, Moriarty was a Marine F-4B and O-1 pilot with greater than 832 missions in Vietnam. He holds 14 worldwide aviation information.
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