Golden Share Mining (GSH.V) merged in July with Silvore Fox Minerals. We sat down with Philippe Giaro, CEO of Golden Share to discuss the company’s plans from here on.
– What was the main reason for the merger with Silvore Fox?
The obvious win-win : Silvore brought cash, a very good high grade zinc property and the support of Sinotech, an important cornerstone Chinese investor as well as an important Chinese network. We brought a very good portfolio of properties, a talented, cost effective and technical management team and our network in Eastern Canada.
– What’s your main focus right now?
The main focus is first better exploring our main high grade assets : Berens River, a past producing high grade gold-silver mine previously owned by Newmont Mining (NMC.TO; NYSE:NEM) north of Red Lake, and Pick Lake, a past producing satellite deposit of the high grade Inmet (now First Quantum Minerals; FM.TO) Winston Lake zinc mine.
The other obvious strategy is to be in acquisition mode for good projects. We are in a beaten down market, with an emerging miner holding 21.9% of our stock and access to money for good projects.
– Can you tell us something more about the Chinese backing of Golden Share?
They are committed to supporting us both financially and technically. You can see that in the composition of the new board of directors : Anna Mao has a strong financial background and Wilson Zhang is a multifaceted geologist. Dr. Jingbin Wang who sits on our Advisory board is a very talented geologist who has already several discoveries under his belt. The Chinese team has already been in the field since the merger for a site visit and they have reaffirmed their intention to support us financially.
– Which long-term vision do the Chinese have with Golden Share?
In the long run, I believe their intention is to work with Golden Share for us to become their development vehicle for precious and selected non-ferrous metals in Eastern Canada.
– What’s your current cash position?
Right now we have about $400.000.
– What are the next catalysts?
We have a series of irons on the fire : drilling on Berens River, we are having a first pass surface look at Pick Lake (with an exceptional prospecting team), we are already reviewing new projects and. So there are a lot of catalysts coming up. In the first few months we will demonstrate that we have a sustained level of activity on two very high grade past producing projects which is already going to set us apart form a lot of other juniors.
Disclosure: The author holds a long position in Golden Share Mining. Please see our disclaimer for current positions.
