Grizzly Discoveries’ COO, Ian Lambert, recently visited the San Francisco Metals and Minerals Conference, attended by many experts in the natural resources sector, held on November 25th and 26th. Conference attendees seemed to express a general consensus that we must be very near the bottom in gold prices and resource shares, while also confessing uncertainty regarding exactly when prices will rebound.
It is certain that the industry players at the Conference believed that, for an investor, a commitment to this sector (“stay the course”) will reap rewards over the next few years. Click here for a piece written by Dudley Pierce Baker that sums up this sentiment.
What is important to the experts, as outlined by Mr. Baker, is a focus of attention on companies with strong management with significant share positions, good properties, cash in the bank, and operating in safe mining environments with little or no geopolitical risk.
This should inspire a sense of confidence in Grizzly Discoveries Inc., as the features of the Company coincide with what it takes to survive a devastated junior resource market. Management and insiders own over 23% of the shares outstanding, with the President, Brian (“Griz”) Testo, holding over 8 M shares, having invested more than $2 million personally. The Company has over $500,000 in the treasury with minimal monthly overhead and a committed management team to stay the course.
Grizzly holds a significant mineral claim position in the Greenwood Gold District near Greenwood, British Columbia, which the Company has assessed as highly prospective for the potential to define and develop one or more precious metals resources. The Greenwood properties lie in an extremely politically stable mining community having strong interests in continuing to explore and develop assets in the ground. Historic mining in the area has produced more than six million ounces of gold. The Motherlode underground and open pit mine historically produced close to 175,000 ounces of gold, 700,000 ounces of silver and 77 million pounds of copper.
Kinross’ Buckhorn mine, just on the other side of the BC/Washington border from Grizzly’s Greenwood properties, boasts a 1.2 million ounce gold resource, and Midway’s Golden Eagle mine, located 40 km from Grizzly’s properties, has a 2+ million ounce gold resource. More than nine million ounces of gold have been produced or is an insitu resource, in a radius of less than 70 km from the Company’s claims.
The Company also holds almost one million acres of metallic and industrial mineral permits in eastern Alberta along the Saskatchewan border, which the Company has determined as being prospective for a potential potash resource. The long term forecasted demand for fertilizer, in particular potash, makes this land position important for longer term development. With historic drilling showing high grade potash zones underlying the Company’s property, the opportunity for diversification for Grizzly is excellent.
For Grizzly Discoveries, nothing has changed in the fundamentals. Their focus to explore, discover and develop a gold/copper/silver resource in their vast 225,000 acre contiguous Greenwood properties, together with the potential opportunity to discover and develop a large potash resource, makes the Company a strong candidate for recovery when the bull markets finally do return to the natural resources sector. This is the perfect opportunity to add Grizzly Discoveries Inc. to your portfolio in anticipation of the inevitable recovery.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange with 48.7 million shares issued, focused on developing significant Potash assets in Alberta and its precious metals properties in southeastern British Columbia. The Company holds, or has an interest in: metallic and industrial mineral permits for potash totaling more than 900,000 acres along the Alberta-Saskatchewan border; over 235,000 acres of precious-base metal properties in British Columbia; and more than 150,000 acres in properties which host diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains of Alberta.