With reference to “Crude will take Eagle River to production with or without’ Hemlo” (T.N.M., May 20/91), the solution for Central Crude for the financing of the Eagle River gold deposit in northern Ontario could be the sale of Crude’s interest (60%) in the Moss Lake gold property.
Major companies pay $100 per oz. gold for an advanced project. So, 60% of 2.5 million oz. represents about $150 million, excluding silver and copper values. Crude could go ahead without anybody’s help for placing Eagle River into production by selling the huge Moss Lake deposit.
Albert Berubi
Montreal
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