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Chesapeake Gold Corp. (TSXV:CKG) released its Management Discussion and Analysis (MD&A) for the second quarter of 2014, commenting that as of June 30, 2014, its cash and cash equivalent balance was $22.5 million.
Chesapeake Gold Corp. (TSXV:CKG) released its Management Discussion and Analysis (MD&A) for the second quarter of 2014, commenting that as of June 30, 2014, its cash and cash equivalent balance was $22.5 million. The company spent $0.8 million on its Metates project in the first half of the year.
Other Q2 highlights include:
- On May 9, 2014 the Company acquired the 1.5% net smelter return royalty (‘Metates NSR’) on the Metates project. The royalty was purchased pursuant to a right of first refusal held by the Company’s subsidiary for a purchase price of $9.9 million (US$9.0 million). Subsequent to June 30, 2014 (August 9, 2014), the Company assigned the Metates NSR to Silver Wheaton Corp. for US$9.0 million.Â
- The Company commenced the evaluation of lower initial throughputs of 30,000 tpd vs the Phase I 60,000 tpd in the PFS incorporating the recent test work and flexibility of the higher ore grades and lower strip ratio early in the mine life.
Click here to read the full Chesapeake Gold Corp. (TSXV:CKG) press release.