Rob McEwen, Chairman of Lexam VG Gold (LEX:TSX, LEXVF:OTCQX) shares his thoughts on the future for this Canadian exploration company, in the gold market.
My name is Rob McEwen, I am the Chairman and largest shareholder of Lexam VG Gold. Lexam is a junior exploration company with a large land package in the Timmins’s Camp; the Timmins’s Camp is the largest gold district within Canada with a long history of producing prodigious amounts of gold. We have both underground and open pit opportunities there and resources. We have in excess of 2.2 million ounces of gold. Grade is about 4-5 grams, which is typical of the camp. We’re currently putting together a feasibility study to see what it would take to put these properties into production.
We have no hedge, we don’t have any debt, we don’t sell streams, and we don’t sell royalties. Lexam, I believe, is very well positioned to benefit from the resurgence and interest in gold. It has a large land package in the Timmins district. There’s been consolidation going on in that area in the last year with Saint Andrew’s and Lakeshore, with Osisko buying up juniors. So we have better than 2.2 million ounces of gold that could be readily mined by some of these parties so I can see only positive things for Lexam.