Wayne Reid on GTA being one of the leading undervalued gold plays on the market
March 13, 2015 — Wayne Reid, P.Geo. CEO and Director GTA Resources and Mining Inc. (TSXV: GTA) in an interview with InvestorIntel Publisher Tracy Weslosky discusses the recent coverage of being an excellent takeover target. Wayne also describes the recent 43-101 compliant resource, the high-grade gold core and the strength and benefits of GTA’s location and infrastructure.
Tracy Weslosky: Wayne I’m delighted to have you here. We’ve had tremendous outfall from a story we recently did where you were selected as one of the number one takeover targets in the gold industry. Can you tell us why you may have been selected for this coverage?
Wayne Reid: Yeah. I think it’s the projects we have. One is a gold inventory about 1.2 million ounces so we get a lot of credit for that. We’re heading towards trying to get that in production if we can over the next two years. The other is our new gold property on the Borden Trend, which Probe was just taken over with their deposit and that’s the one we’re working currently.
Tracy Weslosky: For all of you out there, we have a lot of gold bugs of course that read InvestorIntel, but I want to back you up: talk to me about the assets you have in these two properties — can you give us a bit more depth on this?
Wayne Reid: I’ll start with the more mature one which is the Northshore property. We just got a 43-101 compliant resource with 400,000 ounces of indicated and inferred is over 800,000 ounces of a gram. We’re pretty excited about that. Plus we’ve got a high-grade core there that we’re looking to find a home for. If we can find a mill or a small-scale mining operation. That’s the one that’s really got some — you can put some numbers on. The other is a great grassroots exploration play. We call it Ivanhoe. We picked it up from some prospectors. We’ve done boot and hammer type exploration on it and we’ve got brand new gold showings that we’re going to be drilling over the next 3 or 4 months. Again, it’s right on strike from the Borden Lake deposit that Goldcorp has just paid $530 million dollars for.
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Tracy Weslosky: I understand that you have money in the bank. You have a significant asset and of course you have good relations with First Nations. Is that correct?
Wayne Reid: Yes, we have exploration agreements with the First Nations we deal with. We try to make them like partners and have fun with them. I mean, that’s what we, sort of, promised that we would get serious here and include them in our exploration and that’s what we’ve done so that really helps us going forward. Yeah.
Tracy Weslosky: And, of course, your closeology. Can you talk about the properties that are around you and what their valuations are? I think that was pointed out in the takeover target series.
Wayne Reid: Exploration a lot of times is like real estate so location, location, location…to access the rest of this interview, click here
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An accomplished entrepreneur and corporate finance professional, Tracy Weslosky is the CEO for InvestorIntel Corp. and the VP of Business Development for Bellotti Capital Partners ... <Read more about Tracy Weslosky>