CMX Gold & Silver Corp. holds the Clayton Silver Property in the U.S.A. through its wholly-owned subsidiary, CMX Gold & Silver (USA) Corp.
Management, directors and associates have a significant share position in CMX and own approximately 9.16 million Common Shares (28.0% of the 32.75 million issued and outstanding Common Shares). If family, associates and close friends are included the total held is above 50% of the issued and outstanding Common Shares.
Short term objectives
The Company’s short term objectives are to carry out preliminary work on the Clayton Silver Property which will advance planning of various evaluation activities on the project. In order to accomplish this, CMX intends to:
- complete an extensive sampling program of the large historical dump containing materials that were not processed through the mill to determine if there are economically recoverable metals in the dump;
- prepare a planning report to determine the best approach and estimated costs to re-furbish the old mill on the Clayton Silver Property and reactivate the Clayton silver mine after de-watering the existing mine workings;
- commence preliminary site preparation work;
- launch a major financing initiative to provide capital to conduct a drilling program and, over the long-term, re-furbish the mill; and
- subject to confirmation of economic viability of the historical dump, commence preliminary work to re-furbish the old mill to process material from the dump on the Clayton Silver Property mine site, with the long term objective of completing a custom mill.
Long term objectives
The Company’s long term objectives include:
- Building a modern, efficient custom mill;
- Conducting a drilling program with the objective of:
- confirming remaining, and
- establishing new, resource potential in the Clayton Mine;
- Reactivating operations at the Clayton Silver Mine; and
- Investigating other potentially economic mining opportunities in the area.