Goldplay’s Fonseca on the gold and silver opportunity in both Mexico and the market in 2019
“Many people do not know, but it is a very famous mining district in Mexico. It goes back 250 years to the Spanish colonization times to the point that one of the richest gold and silver mines, the Rosario, was set up in that district. We know by fact and historically that mine produced close to 4 million ounces of gold and 100 million ounces of silver. That is the reason why Fresnillo, which is one of the largest silver producers in the world, controls a lot of concessions in the district.” States Marcio Fonseca, President & CEO of Goldplay Exploration Ltd. (TSXV: GPLY | OTCQB: GLYXF), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.
Tracy Weslosky: I am a serious gold bug and appreciate how amazing the Mexican gold and silver resources are. Let us start there. What is happening with investors right now with their interest in Mexican gold and silver?
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Marcio Fonseca: In my opinion what is happening is that investors got a bit worried about the Mexican market because of the new government. There was some news recently which created a bit of volatility in the market, which I believe now are completely clear in their minds that Mexico is a mining country. There will not be big changes in the mining code for the short-term and medium-term. Consider gold and silver where the price is now. Probably silver one of the lowest prices I have seen so far. The opportunity that you see today at the lower price you can see a turnaround in 2019. I see a great opportunity for any investor to get exposure to gold and silver players in Mexico as a low-cost mining country.
Tracy Weslosky: Speaking of gold play and news, let us jump right into it. You just announced that one of your directors, Laura Diaz, had stepped down as a director to become the next General Director of Mines in Mexico. I thought that was pretty significant news for the type of players you are attracting on your board. Can you tell us how this might affect you and what this means?
Marcio Fonseca: It means a lot to me. I have known Laura Diaz for more than 15 years. She was my lawyer when I was an investment banker and she helped me in many transactions in Mexico, mining transactions. She is well known in the Canadian markets; many transactions as well. It means a lot in a way that you have a person working for the government that understands the mining business in North America, that can help us to get more comfortable with the system and to modernize the system. Of course I need to congratulate her. It is a great achievement in her career being named by the President of Mexico to be the new Director of Mines.
Tracy Weslosky: One of our analysts wrote that it is a good time to be looking at gold and silver and then proceeded to write about you and in particular featured the Rosario Mining District in Mexico. Can you comment on this mining district and Goldplay’s portfolio in this district?
Marcio Fonseca: Of course. Many people do not know, but it is a very famous mining district in Mexico. It goes back 250 years to the Spanish colonization times to the point that one of the richest gold and silver mines, the Rosario, was set up in that district. We know by fact and historically that mine produced close to 4 million ounces of gold and 100 million ounces of silver. That is the reason why Fresnillo, which is one of the largest silver producers in the world, controls a lot of concessions in the district…to access the complete interview, click here
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