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Q. Who is GoldQuest Mining Corp?
GoldQuest is a mineral exploration company trading under the symbol GQC on the Toronto Venture Exchange and under the symbol M1W in Frankfurt and Berlin. The company is principally focused on quality, cost effective generative exploration in the Dominican Republic. Our aim is to discover new mineral deposits and then sell or joint venture them to major mining companies.
Q. What is the company's strategy?
We specialize in acquiring mineral concessions in countries that have seen little modern exploration. We identify what we believe to be geological trends where mineral deposits may occur and then apply low cost but rapid and effective exploration methods to identify new projects. We put experienced geologists on the ground to quickly evaluate the projects potential.
Q. How long has GoldQuest been exploring the Dominican Republic?
GoldQuest has been actively exploring the DR since 2001 although the technical team has been exploring Latin America since the mid 1990's.
Q. Why the Dominican Republic?
Despite being primarily known as a tourist destination the DR is very much a mining and foreign investment friendly place. The government actively seeks foreign investment in mining and exploration. The county is also host to two major mineral deposits, 1) the Pueblo Viejo Gold mine currently being developed by Barrick and Gold Corp. and 2) the Falcondo nickel mine being operated by Xstrata. The Falcondo mine has been in production for over twenty five years.
Q. What is the political situation in the Dominican Republic?
The country is politically stable with a democratically elected government which actively seeks foreign investment.
Q. How much gold or other minerals does GoldQuest produce?
GoldQuest has no mining operations or production. We are an early-stage exploration company focused on exploration and discovery. Our eventual aim is to sell the projects we discover (or the company) to established mining companies. The technical skills sets and people required for generative exploration are quite different from those required to operate a mining company.
Q. How risky is my investment?
Early stage exploration is an inherently risky business to be in and this is a key point for potential investors to note. Many exploration projects that are discovered often do not become economically viability and are relinquished by the companies that found them. This turning-over of projects is a fundamental part of our business.
However, the potential upside for shareholders if a grass-roots project turns out to be mineable is extremely attractive as is typically where the shareholder receives the greatest leverage. As a potential investor, you should be clear that you are comfortable with the investment risks associated with early-stage exploration companies such as GoldQuest.
Q. Do you joint venture each new project you find?
No. Each new discovery is evaluated individually. In some cases we believe that our shareholder's best interests will be served by GoldQuest conducting its own detailed exploration programmes. In other cases, the potential exploration costs involved in completing a detailed programme are high enough to justify spreading the financial and technical risks through joint venture with a major partner.
Q. How many exploration properties does GoldQuest have?
GoldQuest has a large portfolio of exploration projects in the DR. Our project portfolio is constantly changing as we discover new projects or existing targets are joint ventured or dropped.
Q. Where are your samples analyzed?
We primarily use Acme Labs in Vancouver for the analysis of our rock, soil and drill core samples. Acme Labs have a sample preparation facility in the Dominican Republic which reduces the cost of shipping whole samples to Canada. We also retain the services of ALS Labs in Vancouver primarily for stream sediment samples.
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