An upcoming merger will increase Alexis Mineral’s assets and resources, taking it from a junior company to a mid-tier gold exploration and mining company. With various promising projects across Canada, Alexis is poised to gain prominence in the gold world.
Alexis Minerals just finished a very exciting third quarter. In a press release, earnings were reported for the Ontario exploration and mining company: Alexis earned revenue in excess of CAD $6.5 million; 7883 ounces of gold were mined during these three months, the Lac Herbin deposit in Val d’Or is on track to yield up to 36,000 ounces of gold in 2009. These are just a few of the highlights of a stellar year, and things are only looking up. We had the chance to speak with David Rigg, President and CEO of Alexis Minerals Corporation, who is one the most successful, mine finders in the world, about the path that the mining company is on.
In one indication of the company’s success, Lac Herbin in Val d’Or underwent an independent evaluation of its reserves. This estimate increased an incredible 156 percent over a similar evaluation conducted in 2007. The Lac Herbin deposit has a mine life of at least five years, providing further revenue for this mineral company. Rigg said, “Currently Alexis…went into full production of the Lac Herbin deposit in Val d’Or. We’re also currently underground at the Lac Pelletier Project in Rouyn-Noranda.” These and various promising properties are helping Alexis grow and thrive.
Alexis is certainly becoming a company to watch. Rigg said, “Things are very exciting for Alexis right now. We’re currently advancing in a merger with Garson Gold in Manitoba and this will provide leverage towards our objective of becoming a mid-tier gold producer by 2011. ” Garson Gold wholly owns the New Britannia Mine in Snow Lake, Manitoba and the MacMillan Gold Mine on the north shore of House Lake, as well as interests in British Columbia, the Luciana Project in Quebec, and the Copper Prince Property in Sudbury, Ontario.
The merger will throw the weight of Garson behind Alexis. According to Rigg, they are adding 750,000 ounces of resources and will build towards mid-tier production. What does this mean? Alone, Alexis is classified as a junior mining company - a public company with 50,000 to 80,000 ounces of gold production. Rigg explained, “By adding production from the Garson assets and putting the two companies together, we achieve two things. One, we achieve a resource of approximately 1.5 million ounces…and in 18-24 months, we’ll be producing over 150,000 ounces of gold per year. This puts Alexis into a different class as a mid-tier production company.”
The good news doesn’t end there, nor do the benefits of a merger between Alexis and Garson. As mentioned, Alexis is a junior company. With Garson’s assets, they will be considered a mid-tier company. Says Rigg, “A mid-tier company receives much better valuations in the Market place and we should see strong appreciation of our value and shareprice.
Besides being lucrative in terms of investing and resources, the merger of Garson and Alexis is advantageous to the workforce in the surrounding communities. “We’ve gone from twelve employees in Val d’Or to close to one hundred now, and I expect over the next twelve months…we’ll be in operation in Val d’Or with over two hundred people.” Refurbishing the Aurbel Gold Mill and increased production has increased the need for quality employment. Further, the cost of doing business will decrease by an estimated ten percent because of the Val d’Or gold mill start-up. When production hits full stride, Rigg expects that they will add another 250 employees. “It is very much a growth story,” he said, “And it is growth that benefits the company, investors, employees and local communities.”
Despite tumult in the economy, gold has remained a valuable and stable investment. In fact, leading experts say that the safest investments are in physical gold or stocks in gold companies, with the latter being more accessible to more people. Besides gold’s value, David Rigg pointed out other reasons why investing in Alexis is a sound decision: the company has clearly demonstrated a growth strategy that will transform it from a junior company into a mid-tier gold producer, with increased value for its investors.
In addition, Rigg, who has over thirty years experience in the mining industry, says that world-class mines can be found through regional exploration and that Canada has stable mines that will continue to drive yields and revenue for Alexis. It is an exciting time for the soon-to-be mid-tier company and its investors.
The Alexis team is led by David Rigg, who has spent his career primarily in Ontario and Quebec, while working in mining towns all over the world. He has made important discoveries in North America, Africa, and Sweden, including the Musselwhite Mine in northwestern Ontario. Once, someone asked him to place a monetary value on all the gold he has discovered or helped to discover. After a few quick calculations, he determined that number to be $22 billion. Incredible! He said, “I hope to bring that talent into Alexis and help them find world class deposits.”
Alexis is also lucky to have an outstanding management team. “In terms of our personnel,” Rigg said, “Alexis has grown very significantly over the last two years.” Vital to Alexis’s success are Deborah Battiston, CFO, and Keith Boyle, Executive Vice President and COO. Ms. Battiston is a certified general accountant with extensive experience in financial management, particularly in regard to the mining industry. Her experience spans over fourteen countries, giving her valuable insight and skills.
Keith Boyle has worked in the mining industry for over twenty years, working in Quebec, Ontario, Papua New Guinea, Australia, and Madagascar. His experience with narrow vein, bulk underground, and open pit mines is invaluable. Keith is indispensable in creating and maintaining safe mines. David Rigg, Deborah Battiston, and Keith Boyle are just a few of the people who make Alexis Minerals work. With the addition of Garson’s assets, this is not only a company to watch, it is a company to get behind.
For more information:
http://www.alexisminerals.com
Locations & Contacts
Head Office
65 Queen Street West, Suite 815, P.O.Box75
Toronto, Ontario
Canada M5H 2M5
Telephone: 416- 861-5905, Fax: 416-861-8165
Toll Free Telephone, within North America: 1-877-717-3027
Website www.alexisminerals.com
info@alexisminerals.com
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Lac Herbin Mine Office
(No mail delivery – please send to Exploration Office)
1900, chemin Brador,
Val d’Or, QC
J9P 0A4
Telephone: (819) 825-3412, Fax: 819-825-3413
Lac Pelletier Mine Office
(No mail delivery. Please send to Exploration Office)
348, chemin Hull,
Rouyn-Noranda, Quebec
J9X 5C1
Telephone: 514-373-1044, Fax: 514-373-1045