Midas Resources Limited
(ASX:MDS) Managing Director, Geoff Balfe gives an update on gold projects at Lake Carey and Leonora in Western Australia. The Lake Carey project includes the Fortitude gold deposit. The company has JORC resources of 436,000 ounces, primarily from Fortitude, with Gallant and Sunset Well contributing. There is currently feasibility work being undertaken at Fortitude.
Midas has reached a landmark access agreement for the Paterson province with the granting of tenements to follow.
The gold miner has $2 million in cash, no debt and a $5 million market capitalisation.
