PHOENIX, May 08, 2019 (GLOBE NEWSWIRE) -- Uptick Newswire Stock Day Podcast welcomed Continental Gold Inc. (CGOOF) (“the Company”), the leading large-scale gold mining company in Colombia which is presently developing its 100% owned Buriticá project in Antioquia. CEO and Director, Ari Sussman, joined Stock Day host Everett Jolly.
Jolly began the interview by asking Sussman about the Company’s recently closed financing package. Sussman explained that the Company represents one of the most advanced development stage gold projects in the world and is close to moving towards production. He also shared that given the Company’s high-quality deposit in Colombia, they have been able to attract high level finance partners.
Jolly then asked when the Company will reach full production. Sussman explained that construction for their current project, Buriticá, is going exceptionally well and the Company expects to begin full scale commercial production in 2020. Once the Company is able to pour first gold in the first half of 2020, it will take approximately six months thereafter to reach commercial production status.
Jolly then asked about the Company’s recent 43-101 report. Sussman explained that the 43-101 report encompassed approximately 350,000 meters of drilling, as well as 10,000 meters of underground sampling. “We’re at a very large size (total ounces defined in resources) in terms of projects being measured globally,” explained Sussman. He also added that not only does the Company have a very large gold deposit, but it is also extremely high-grade, which is an exceedingly rare and valuable combination.
Jolly followed by asking about the Company’s 2019 drilling program. Sussman shared that the Company will be making preparations for production in 2020, however will continue to grow their mineral resource ounces by aggressive drilling. “It is in our shareholder’s best interest to remain a growth story for many years to come,” stated Sussman.
Sussman then explained that now is one of the best times to invest in the gold industry given the current historically low valuations of both the gold price versus the S&P and the gold equities versus the price of gold. He also explained that there are numerous other qualities of the gold industry that further enhance the investment potential in this space. Sussman shared that companies that enter the production phase typically see a substantial increase in value, which is a part of the cycle that the Company is on the verge of entering.
To hear Ari Sussman’s entire interview, follow the link to the podcast here: https://upticknewswire.com/featured-interview-ceo-ari-sussman-of-continental-gold-inc-otcqx-cgoof/
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About Continental Gold
Continental Gold is the leading large-scale gold mining company in Colombia and is presently developing it's 100% owned Buriticá project in Antioquia. Buriticá is one of the largest and highest-grade gold projects in the world and is being advanced utilizing best practices for mine construction, environmental care and community inclusion. Led by an international management team with a successful record of discovering, financing and developing large high-grade gold deposits in Latin America , the Buriticá project is on schedule with first gold pour anticipated during the first half of 2020. Additional details on Continental Gold's suite of gold exploration properties are also available at www.continentalgold.com.
Forward-Looking Statements
This press release contains or refers to forward-looking information under Canadian securities legislation—including statements regarding: timing of drill results, first gold pour and commercial production; advancing the Buriticá project; exploration results; potential mineralization; potential development of mine openings; potential improvement of mining dilution grades; reducing start-up risks; and exploration and mine development plans—and is based on current expectations that involve a number of significant business risks and uncertainties. Forward-looking statements are subject to other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, an inability to advance the Buriticá project to the next level, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Specific reference is made to the most recent Annual Information Form on file with Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements. All the forward-looking statements made in this press release are qualified by these cautionary statements and are made as of the date hereof. The Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
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