GTA Resources & Mining on the acquisition of exploration properties secures gold and graphite
October 30, 2014 — In a special InvestorIntel interview, Tracy Weslosky, Editor-in-Chief and Publisher for InvestorIntel interviews Wayne Reid, P.Geo., CEO & Director of GTA Mining and Resources Inc. (TSXV: GTA) about what GTA does best – “we take a grassroots property and work to get a resource on it.”
Tracy Weslosky: Today I have the pleasure of interviewing Wayne Reid. He’s the CEO for GTA Resources and Mining. A very tight model, there’s only what, 30 million shares outstanding?
Wayne Reid: 30 million shares and 33% of those are held by either by the insiders, with 7 million shares — and Balmoral Resources, whose property we had picked up, have about 3.1 million shares. We know where all those are. Plus, there are some major investors in there so there is a very tight control on shares.
Tracy Weslosky: This is an excellent point. I don’t usually start out conversations this way, but InvestorIntel audience, right now we have a lot of vultures out there looking for great bargains, undervalued stocks and here we have a stock, a resource play, with money in the bank and you have significant management on your team. You just had a news release about Ivanhoe property. Can you talk to us about this?
Wayne Reid: That’s more of a grassroots property that we optioned only about 4 or 5 months ago. Our main property is much more advanced and this is slower going ahead. Ivanhoe is a busy boot and hammer type prospect and it’s low-cost, and you can get really a big bang for your buck in a perfect area. It’s between Timmins and Probe Mines’, Borden Lake property. That same structure that connects those two, we’re right in the middle of it. Lots of good looking rocks. Lots of historic gold mineralization. We just started doing a prospect and sampling survey on Ivanhoe. That should hopefully get us some good news going forward. It’s really what we do best is take a grassroots property and advance it to get a resource on it.
Tracy Weslosky: Can you give us an overview on GTA Resources and Mining? You have 3 primary properties — can you give us a nice overview?
Wayne Reid: Three properties, but really it’s a pipeline of properties. Our main property is the Northshore Property. We just got a 43-101 compliant resource on it so it’s got about 400,000 ounces of indicated and over 800,000 of inferred at about 1 gram. We’ve got a bulk tonnage possibility there. Plus, we’ve got a high-grade zone within that, that we’re putting into a surface pit model on to see if we can actually start mining here early. We’ve really got this advanced property. We’re looking at the scenarios of mining, scoping out costs of what it would cost to mine. The first shovel full here would be ore.. There shouldn’t be hardly any stripping. We think it’s a great environment for the locals. It will take some time because environmental work has to be done, and some metallurgy. This is one end of the pipeline, and we’ve got the grassroots at the other end of the pipe. Those two grassroots properties at the other end of the pipe that’s going to be feeding, hopefully, up to another Northshore. That’s really where it comes from. The other grassroots property is in northern Ontario up towards Hearst. It’s more of a graphite play next to Zenyatta’s recent Albany discovery. [Editor’s note: GTA owns 51% of Northshore.]
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Tracy Weslosky: Okay, it was quite a coup for them to bring you on approximately 2 years ago because you’re a very senior player in the exploration professionals here in the resource sector. I thought you were primarily focused on gold. I was going to ask you about which resource you’re looking for. You’ve got everything from graphite to gold. Can you tell me what your sweet spots are? Are you just looking for the best possible deals you can get your hands on?
Wayne Reid: Really we’re a gold company, we just happened to find ourselves proximal to the best graphite discovery in Canada…
Disclaimer: GTA Mining and Resources Inc. is an advertorial member of InvestorIntel and the text is not a transcript.
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