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GoldSpring Believes That There Is Still A
Lot Of Undiscovered Treasures In The Ground In The Comstock Lode District,
Which Has A Prolific History Of Silver And Gold Mining Dating Back To The
1860’s
Basic Materials
Gold
(GSPG-OTC: BB)
GoldSpring, Inc.
PO Box 1118
Virginia City, NV 89440
Phone: 775-847-5272
Robert T. Faber, CPA
President and CEO
William Nance
Chairman
Jim Golden
Chief Operating Officer
Interview conducted by:
Lynn Fosse, Senior Editor
CEOCFOinterviews.com
Published – April 18, 2008
BIO:
William J. Nance - Chairman of the Board: Bill has
been a director of our Company since October 2005. Mr. Nance is a Certified
Public Accountant and private consultant to the real estate and banking
industries. He is also President of Century Plaza Printers, Inc. Mr. Nance
is also a Director of Intergroup Corporation, Santa Fe and Portsmouth.
Robert T. Faber, CPA, - President and Chief Financial
Officer : Rob has served as President and Chief
Executive Officer of our Company since September 2004 and Chief Financial
Officer since June 2003. Mr. Faber served from 2002 until 2003 as Vice
President of United Site Services, Inc., a privately held service
consolidator in the waste service industry. Additionally, Mr. Faber served
as an executive with Allied Waste Industries from 2001 until 2002,
overseeing a $1.2 billion multi-state area and served as Chief Financial
Officer with Frontier Waste Services, LLC from 1999 until 2001. Prior to
joining Frontier Waste, Mr. Faber spent 17 years with Waste Management,
Inc., a publicly traded environmental services company, during which time he
served in senior positions both internationally and domestically. Mr. Faber’s
positions included Director of Finance of Waste Management’s $1.4 billion
multi-country International operations based in London, England and Vice
President and Controller for several $100 million plus multi-state market
areas. Mr. Faber is a certified public accountant.(not licensed to
practice).
James V. Golden, P. Eng. - COO:
Jim has served as the Company’s COO since May 2006. Mr. Golden, who is
a licensed mining engineer, has over twenty years of experience in the
mining industry, including ten years with Peter Kiewit's mining division,
where he was a district manager. A graduate of Montana Tech, Mr. Golden has
owned his own consulting firm since 1990, where he has provided consulting
services throughout the world for over 50 mining companies
.He performed services for mining projects in the
Comstock since 1988, including the Flowery Mine, Haywood Mine, Rae Gold’s
Lucerne project, Brockbank Trust property and GoldSpring’s Comstock Mine.
Company
Profile:
GoldSpring, Inc. is a North American
precious metals mining company with an operating gold and silver mine in
northern Nevada. The Company was formed in mid-2003 and acquired the Plum
Mine property located in the Comstock Lode District in November 2003. In the
Company's relatively short history, it secured permits, built an
infrastructure and brought the Comstock Lode project into production. Since
2005, the Company has been acquiring additional properties around its
Comstock Lode project in northern Nevada, expanding its footprint and
creating opportunities for exploration. GoldSpring is an emerging company,
looking to build on its success through the acquisition of other mineral
properties in North America with reserves and exploration potential that can
be efficiently put into near-term production. The Company's objectives are
to increase production, increase reserves through exploration and
acquisitions, expand its footprint in the Comstock, and maximize cash flow
and return for its shareholders.
CEOCFO: Mr. Faber, what was the vision when
GoldSpring was started and where are you today?
Mr. Faber: “GoldSpring was started in
2003 with the vision to create a junior mining company that had assets in
North America. Since that time we have narrowed the scope of where we want
to be mining and we are focusing 100% of our energy in the Comstock Lode
District in Nevada.”
CEOCFO: Why
have you chosen that area?
Mr. Faber: “The Comstock Lode District has
a prolific history of silver and gold mining dating back to the 1860s. There
is a great deal of historical information on how the ore was processed
during that period. We believe there are still a lot of undiscovered
treasures in the ground in that area.”
CEOCFO: Tell us about your current
projects.
Mr. Golden: “Currently we are working in
an area called the Lucerne Pit. There have been two rounds of previous
mining there since 1970. Prior to that, there was underground mining in this
area in the 1800’s to early 1900’s. We are currently doing reverse
circulation drilling in this area. We are having success locating gold and
silver in our area right now at the mine.”
CEOCFO:
What is the timetable going forward and the plan for the project?
Mr. Golden: “Currently we are doing a
combination of drilling and additional metallurgic study to determine our
prospecting parameters. We tentatively plan on resuming our open-pit
operation here this summer. We are looking at discontinuing our ongoing
exploration efforts.”
CEOCFO:
Would you tell us about the financial picture of the company today?
Mr. Faber: “Right now we have some very
supportive investors that continue to supply the needed capital to propel
our company forward. We are in the midst now of securing what we consider a
sizeable amount of money to push the company to the next level and hopefully
we will be able to do that in the next several months.”
CEOCFO: Do
you continue to look for additional properties?
Mr. Faber: “We are in the process now of
acquiring additional properties in and around our existing mine. We are also
staking additional claims. We are focused in the Comstock; it is a very big
piece of real estate, and we believe it presents many opportunities for us.
Therefore, we have all of our resources focused right now on developing the
property that we have, increasing the size of our footprint and continuing
with our exploration drilling.”
CEOCFO: Are
the properties 100% owned by GoldSpring?
Mr. Faber: “Some of the properties are
owned by GoldSpring and we have the right to all the claims. Some of the
properties are owned by the BLM and some of the properties are owned by
private individuals, from whom we lease the claims, so it is a mixture.”
Mr. Golden:
“We have a consolidated block of about 4000 acres right now and it is
increasing in size.”
CEOCFO:
Given that there is so much interest in gold right now, why would there be
properties available for you to increase your holdings?
Mr. Golden: “We had already made our bet
on the Comstock a few years ago. Therefore, our investment now is at a low
cost in the mining district, so we are a long-term player.”
CEOCFO: Are
there newer technologies or new ways at looking at the mining that you
employ?
Mr. Golden: “We are able to employ
technologies that have been common since the middle of the 1970’s, but have
never been deployed within the Comstock. Therefore, there are a number of
remote testing and modeling techniques that we are employing that have never
been used in the history of the Comstock, so there are some opportunities
that we are receiving because of advancement in technology.”
CEOCFO:
There are many gold companies available; why should potential investors look
at GoldSpring? What sets you apart?Mr. Faber:
“The assets we have in our portfolio are very unique. There is only one
Comstock District and if you go back and look at historical information,
there were 18 million ounces of gold and 230 million ounces of silver that
were mined before the 1900’s. Mining slowed down almost to a standstill
right after the turn of the century, so we are sitting in what we consider
to be elephant country; there are known resources in the Comstock. That
would be one of the factors; the fact that we are in a very prolific area.”
Mr. Golden:
“The type of deposits that have been found in the Comstock are bonanza type
deposits. That means that when you hit one of these, you hit something that
could be worth hundreds of millions or a billion dollars in the market we
are in. A lot of those kind of targets were hit in the late 1800’s.
Therefore, our land position is probably our greatest strength.”
Mr. Nance:
“In addition to that, in prior periods the Comstock was a fragmented piece
that had many owners. I think what we have done at GoldSpring is that we
have attempted to consolidate the entire Comstock into one area in which
GoldSpring would be very significant.”
CEOCFO:
What should readers remember most about GoldSpring?
Mr. Faber: “There are a couple of
things; number one is that GoldSpring is consolidating the Comstock
district. Number two is that we have the permit to operate a heap leach
processing operation in the Comstock, and we are the only one that holds
such a permit in or around where we are operating. We intend to be in
production sometime in the summer of 2008. Based on the geological
information that we have, we believe the upside potential is second to none
in the marketplace.”
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