19:25:12 EDT Mon 29 Apr 2024
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USA
CA



Klondex Mines Ltd
Symbol KDX
Shares Issued 109,146,291
Close 2014-02-20 C$ 1.94
Market Cap C$ 211,743,805
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Globe says having deposit in Nevada helps boost Klondex

2014-02-21 08:15 ET - In the News

The Globe and Mail reports in its Friday edition there are deals to be found in the battered junior resources sector today and now is a good time to start selectively hunting for them. Globe columnist Fabrice Taylor writes, however, before you start, you have to know what to look for. A good orebody is not nearly enough. Most promoters and small investors get carried away with the grades, but grades can be irrelevant if the deposit is in the wrong jurisdiction. Mining promoters rarely talk about infrastructure or jurisdiction. And although resource extraction built this country, it is getting harder and harder to get things done in Canada. Nevada has a good reputation for being friendly to mines. Klondex Mines, an aspiring gold producer with a deposit in the state, is up 50 per cent in the past year even while most gold producers are getting crushed, and Mr. Taylor thinks jurisdiction is one of the unheralded reasons for the performance. Investors expect the mine to be built. Alabama is also emerging as a business-friendly place to mine. Mr. Taylor describes how apologetic a government official was when he broke the news to a geologist that it would take a couple of weeks to get a mining permit.

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