Cantex Mine Development Corp.
Symbol: TSXV: CD OTCQB: CTXDF
Market Cap: 21MPurpose Financing
- Cantex Mine Development Corp is focussed on a high grade silver-lead-zinc-germanium project in the Yukon with abundant mineralization over 20% combined lead-zinc, 100g/t silver and it also contains the highest grade germanium ever found in North America ~600 g/t in sphalerite (zinc containing mineral).
- Management has a history of success, with the discovery of world class Ekati Diamond Mine in NWT, with the company, Dia-Met, being bought out by BHP for $687M and management has skin in the game, with 34% ownership, that was acquired in private placements and the market, not gifted.
- The company has a tight share structure that includes some of junior mining's most respected investors, such as Rob McEwen (Gold Corp fame and McEwen Mining), Bob Quartermain (Founder of Pritium, taken over by Newcrest for $2.8B), Jeff Stibbard (JDS Mining) and Crescat Capital led by Quinton Hennigh is investing $1.5M in the current private placement offering.
- 60,000m has been drilled to date and the project has size with drilling defining 2.3km of strike to a depth of 700m that is open in all directions, with planned drilling intended to increase the strike length beyond 2.3 km and identify an anticipated high copper zone.