Chesapeake’s Reifel on one of the greatest global reserves of gold, silver and zinc
March 27, 2015 — Randy Reifel, President and Director of Chesapeake Gold Corp. (TSXV: CKG) in an interview with Tracy Weslosky, Publisher for InvestorIntel speaks about the Metate’s project in Western Mexico, which has “one of the largest reserves in the world for gold, silver and zinc.” Also, in lieu of Randy’s substantial experience in the resource sector, which includes his Board of Directors role on Goldcorp Inc. (TSX: G | NYSE: GG), Tracy asks Randy to discuss existing market conditions and where the prices of gold and silver are headed in 2015.
Tracy Weslosky: Randy, I’ve been enjoying doing a lot of research on Chesapeake Gold here this afternoon. It looks to me like you have one of the best projects in the world. Can you give us a bit of an overview?
Randy Reifel: Yes. Chesapeake owns the Metates project in western Mexico and has one of the largest reserves in the world for gold, silver and zinc.
Tracy Weslosky: Further to this the Metates project has a substantial amount of gold. Is the gold what drew you to this project?
Randy Reifel: Yes it is. Chesapeake has 18 million ounces of gold, half a billion ounces of silver and 4.2 billion pounds of zinc in reserves.
Tracy Weslosky: You are on the board of directors for Goldcorp and you have a substantial professional history, why would you want to get back into the exploration game?
Randy Reifel: It’s the frontier and I like working with discoveries that become world-class projects: this never gets boring.
Tracy Weslosky: Chesapeake has a NI 43-101, you drilled a lot of holes, and you’ve got $30 million in the bank — where are you going to take if from here?
Randy Reifel: We’re busy de-risking Metates. We’re not a miner. We’re an exploration-development company. And we are taking the project to a point where we think someone will decide to buy it and then, put it into production.
Tracy Weslosky: Of course, your production timeline is for 2018. Are you on track for this?
Randy Reifel: We’re trying, but that will be driven largely by metal prices.
Tracy Weslosky: And because of your experience, talk to me about metal prices. Randy, where are we right now in 2015 and what do you anticipate for gold and silver prices?
Randy Reifel: We’re in a foggy bottom. People say, what’s a foggy bottom? I think we’re close, but we can’t see it. I think we’re going to see fairly level prices for the metals over the next year and then I think we’ll hopefully see a trend rising higher from there.
Tracy Weslosky: We happen to really like zinc prices or our audience does. What do you think about zinc?…to access the rest of this interview, click here
Disclaimer: Chesapeake Gold Corp. is an advertorial member of InvestorIntel.