The strategy is to acquire companies who have themselves acquired positions from major mining companies and in so doing have attained ownership of large raw data packages which would take tens of millions of dollars of expenditures to generate from a cold start.
The management has a history of achieving this in previous other companies and it is considered that this strategy is superior to companies who are developing concepts without the backup of real information.
In essence the Company, by adopting this strategy, leaps the first major hurdle of risks, working more on adding value than initial discovery. Our Glenover project was well researched by Gold Fields of South Africa and sold on to Fe-Min-Ore since Gold Fields elected to return to gold mining as its core business and rare earths at the time of disposal was not well understood or market required.
The St. Vincent Minerals acquisition consists of one major copper/gold project in Nevada, USA which has a 43-101 resource of some 1.6 million oz of gold equivalent and significant upside potential.
Other projects within the St. Vincent stable are less advanced but are in areas which show significant potential for copper, gold, molybdenum and silver.