Hier nochmal ein aelterer Report von Mike Hoy ueber GOR.V
Goldrea Resources
The second company of Larry Reaugh's that I want to share with you is a company by the name of Goldrea Resources GOR.V. This is a company with a very exciting joint venture in Rushan, Shandong Province of China with Shandong Daye Mining Co. This venture allows Goldrea to earn a 74% interest for 5,000,000 shares of stock and $2,000,000 expenditure over four years. Shandong Daye Mining would earn 26% or receive a 10% carried interest if they choose to let Goldrea finance everything.
I spent 3 hours with Richard Shoe, who is President of Goldrea's China Division and I was very impressed with his knowledge and his connections. Richard's affiliation with Goldrea is crucial and will deliver big rewards for the shareholders of Goldrea.
China Rushan, if they choose, has offered to sell Goldrea an existing 65,000 oz./year producing gold mine with a 4 year remaining life along with an existing 1750 ton/day mill at fair market value. If China Rushan chooses to sell, this could put Goldrea in a position to be a producing gold company. Goldrea also has all its permits and business license to operate in China.
This 65,000 oz. gold mine is an open pit mine with tremendous potential to go underground. This property has not been drilled below 100 meters. Practically all producing gold mines in China are open pit producing gold mines. Historically, the money and technology has not been available, from the Chinese Government, for underground mining and deep drilling; until now.
Changes have been taking place in China and foreign money and technology are welcome. China's growing and insatiable demands for natural resources has opened the door for joint ventures in China with foreign companies. This new and emerging policy, for joint ventures, has created terrific opportunity for companies with the foresight to see, recognize and act; Larry Reaugh and Goldrea Resources have taken full advantage of the opportunity and the shareholders should be very pleased with the outcome.
Personally, I am very excited to see what the drill results will show from future drill programs drilling to deeper depths. Currently, drill results are pending on some drilling that is complete.
As I analyze, companies like Goldrea and Adanac, at current prices, I see these two companies building and creating wealth for their shareholders. I see management teams totally focused on creating true long term wealth through exploration, development and production of their assets. Both of these companies are well into the development stage and could be into production within the next year and a half to two years. To see Goldrea trading in the $.25-$.27 Canadian price range with a market cap. of roughly $6,750,000 Can. I get real excited about what the future holds for this company; especially when I consider the possibility of additional inferred resources, from prior shallow drilling, by the Chinese on the Shandong Province joint venture property. I think the possibility exists for future drilling programs to increase reserves substantially.
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