After spending more than 12 months analyzing and digitizing some 40 years of geological data from the Table Mountain Gold Mine, the Hawthorne team is now preparing for a very busy 2009 field season (which should begin in upcoming months with a aggressive drill program and the advancement of the project through to production later in 2009). Through this exhaustive exercise, numerous overlooked drill targets have been identified, which the Company believes can potentially lead to the discovery of new sources of high grade zones.
Helping expedite their production plans will be the recent completion of a $6.2 million private placement. The Company originally planned to raise $3 million, but due to strong demand for the issue, the Company was able to more than double the initial offering. Armed with capital, Hawthorne can now aggressively execute its business plan, and prepare the Mine for production as scheduled. Remember, this mine is already permitted, has great relations with First Nations, has a fully operational 300 tpd mill, a tailings pond, local airstrip down the road, main highway through property, 25 kilometres of underground workings and of course 13 access adits. Talk about infrastructure!
Led by Richard Barclay and Michael Beley of Bema and Eldorado fame, the Company plans to grow both organically and through acquisitions. The current global economic environment has created many “golden” opportunities that the Company is actively reviewing.
add to watch list, thanks.