Considerable interest was shown in Escalones at the recent PDAC mining investment show in Toronto and a number of companies have now indicated interest in joint venturing the project. Confidentiality Agreements have been prepared for several companies and discussions are underway.
This is very encouraging news. Stock was up 30 percent yesterday. This being the junior resource market, I would not be surprised if it goes down today. Sense just does not exist in this realms - but madness galore! Got in at 0.20.
Escalones is a world class mine. But the market has decided to ignore it. The Malkhu Khota seizure together with the overall lethargy of the market really hammered SAC. But these are the lows, and I consider it a great opportunity to get in at these prices.
SAC also indicated in its January presentation that it is poised to secure new properties in an attractive market. So it not resting in its laurels but moving forward. New properties include a 19.9% stake in High Desert Gold Corporation, which released an updated Inferred Resources Estimated yesterday:
There is also going to be a rebranding to "reflect new corporate goals and strategic direction".
An environmental review of the Escalones project is underway while a resource update will be issued mid this year.
SAC expects to file its formal Notice of Arbiration in May 2013. The case is expected to take 3-4 years.
All in all really excited about what 2013 holds for this adventurous comapany