Well the news came down on Friday that Imperial Metals have bought out the 50% partners of Huckleberry Mine (Mitsubishi Materials Corporation, Dowa Metals & Mining Co., Ltd., and Furukawa Co., Ltd.) to become sole owner. Based on the history of Imperial Metals there are 2 different options that could happen
Selling Huckleberry Mine
There has been some interest from other exploration and mining companies in acquiring the operations of Huckleberry Mine as recently as 2016. Gold Reach Resources in an interview with Equities.com. Shane Ebert, CEO of Gold Reach expressed an interest in acquiring Huckleberry Mine “This represents a huge opportunity for Gold Reach to try and secure a deal with the present mine owners at the bottom of the market, putting us in a good position to capitalize on increases in copper price,” said Ebert. “Securing access to the Huckleberry Mine will be a key milestone for the company moving forward.”
Supposedly Gold Reach and Imperial have had numerous conversations about a possible deal
Imperial Expanding their Reserves
Now in reverse Imperial maybe looking to acquire Gold Reach Resources as they are just across Ootsa Lake. I am told that a possible conveyor belt could be build to move rocks across the lake to Huckleberry. There is already a barge/ferry that is used by large logging trucks and it could become a way to move rocks or even dump trucks. Maybe even a bridge. Maybe Imperial is going to buy Gold Reach Resources?
Imperial has other properties and projects near Huckleberry which include Whiting Creek. Drilling has taken place on these projects in the last 2 years so the footprint of Huckleberry could easily be expanded to include these
The 3rd option for Huckleberry expansion is the accumulation of other reserves such as New Nadina (Silver Queen), Finlay Minerals (Silver Hope) and the old Equity Silver Mine. There are a number of small exploration projects in the area that have completed drilling in the past 5 years that would be of interest to Imperial. Also that area has had a history of short mine operations in the 50s and 60s that could be revisited with new technologies.
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