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Wednesday, 6 March 2013
Golden Goliath draws a crowd as it welcomes Rompin’ Ronnie Hawkins at PDAC
The mood at Toronto’s PDAC 2013 conference may have been slightly more conservative than years past, but at Golden Goliath’s (CVE:GNG) booth it was Rockin’ as it welcomed special guest and legendary Canadian rockabilly artist Ronnie Hawkins – a.k.a. The Hawk.
Hawkins created quite a stir at Golden Goliath’s booth, with his own special brand of humour and “tell-it-like-it-is” personality. More than one person lined up to get a picture with the artist, touted as one of the key players in the 1960s rock scene in Toronto, including Secretary of Economy for the state of Chihuahua, Mexico, Alvaro Navarro Garate.
Golden Goliath’s president and CEO, Paul Sorbara, says that speaking with the Secretary at PDAC was a great opportunity to garner support for the company’s activities, as it is focused on the Uruachic mining camp located in the Sierra Madre Occidental Mountains in the state of Chihuahua.
“We had a great chat about what we [Golden Goliath] are doing in Mexico,” Sorbara says.
“I explained to him that we are likely the biggest employer in the town of Uruachic and have spent roughly $15 million in the area.”
Sorbara says it was also great to have the support of his long-time friend Hawkins at PDAC.
“He has really supported me over the years." Sorbara says he and Rompin’ Ronnie “go way back” to the late 60s when they met while both working as musicians.
Interestingly, while Hawkins went on to have a music career that spanned more than half a century, Sorbara retired his drumsticks while on the road one year, when he met a prospector who inspired him to study geology.
The rest, he says, is history, but he and Hawkins have remained good friends to this day.
Sorbara also recently spoke with Proactive Investors to discuss Golden Goliath’s 2013 plans, including the first-ever drilling campaign on the Nopalera property - located adjacent to the Fresnillo Plc (LON:FRES) claims that host the 9.6 million ounce, Orisyvo gold deposit - in the eastern central part of the Uruachic gold camp.
The company’s 8400 hectares of land include Nopalera, Las Bolas/Los Hilos, San Timoteo, La Reforma, Nueva Union and the Corona property, which is part of a joint venture with Comstock Metals (CVE:CSL).
Sorbara said the company is in the process of prioritizing the “many different target areas” of the Nopalera property.
“Moving forward at Nopalera is contingent on financing, but we want to implement the program as soon as possible,” Sorbara said late last month.
Meanwhile, under an earn-in and shareholder agreement with Agnico-Eagle Mines Ltd. (TSE:AEM) (NYSE:AEM) on the Las Bolas/Los Hilos property, Golden Goliath said Agnico resumed drilling last month under year two of the work commitment.
Sorbara noted that to the north of Golden Goliath’s project, the world’s richest man, Mexico’s Carlos Slim, bought AuRico Gold’s (TSE:AUQ) (NYSE:AUQ)’s Ocampo gold mine and exploration properties.
The CEO called the move “very significant” as it shows that the Sierra Madre area is being recognized as a major developing gold producing area and indicates Slim’s interest in exploration possibilities, which could be beneficial for Golden Goliath.
Unlike most juniors, Sorbara noted that the company’s Uruachic claims are 100-per-cent owned and are fully paid for with no property option or purchase payments to make, so it has a low burn rate for its capital.
“We are very fortunate to be operating in a mining friendly region, and in an area where violence overall seems to be decreasing. We also have a great relationship with the locals, which is important to our success,” he said.