Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Green River Gold (CSE: CCR) is ready to begin placer mining of its Wabi claims in May 2024. The claims are located on the Swift River 45 minutes from Quesnel, BC. The claims are fully permitted.
Green River holds six contiguous placer mining claims straddling the Swift River, a river with a significant history of placer mining dating back to the Cariboo gold rush in the 1870s.
The company has held the project for several years, along with placer claims on other creeks and rivers nearby. Some of the other claims have been rented in the past, but Green River may choose to mine some of them itself.
The goal is to achieve a self-sustaining cash flow from operations, and then that cash can be used for exploration at other projects.
The company has access to an equipped shop, all needed equipment and supplies, and experienced personnel through its private affiliate Gold Rush Supplies, which specializes in placer mining. A group of people will run the placer mining activities separately from the exploration crews at Green River’s Quesnel nickel project.
“It is our goal to create sufficient revenue from operations to eventually cover at least our annual operating costs so that any money we raise in the capital markets goes directly to exploration or acquisitions,” said president and CEO Perry Little.
“Our primary focus remains the Quesnel nickel project and our other mineral properties. In the meantime, any mining activity that produces cash flow for the company benefits all our shareholders.”
