Midas Letter(Editorial) reports on NioGold’s(CVE:NOX) $20 million joint venture with Aurizon (TSE:ARZ).
The editorial is quoted as saying:
According to Aurizon CEO David Hall, “Our technical and production base is in Quebec. We?re in a strong financial position with over a $100 million in cash plus $60 – 70 million a year in free cash flow potential. We think we can leverage our technical capacity and financial capacity to grow our production base by building an exploration pipeline of properties that we can earn a controlling position in. We?ve done three such joint ventures so far this year, and in the case of Niogold, we?re attracted to the fact that this is a group of past producing properties, we?re attracted to the resources already proved up, we
think its in a great location, and we?re also impressed with the technical ability of Rock Lefrancois, who we?ve known for some time.”
Click here to access the entire editorial.(pdf format)