Can you give us a little background about your project?
The Kitsault mine is located on Alice Arm off Observatory Inlet north of the Nass River Valley in the Nass Wildlife area. Avanti Kitsault Mine Limited, a wholly owned subsidiary of Avanti Mining Inc., will be the operator of this molybdenum (‘moly’) mine. ‘Moly’ is a valuable mineral that is used as an alloying agent for specialty and construction steel. Projections show that there will be an increased demand for ‘moly’ over the next several years.
The Kitsault mine is a past producing mine, having been in production for a brief time in the late 60’s and again in the early 1980’s. Avanti has further explored the property with an ambitious drilling program and once in production, Kitsault will be one of the top 10 moly mines in the world in terms of pounds produced per year.