RE: newmont joint ventureFirst off, thanks 53buick for posting a message actually relating to RES.
It's been a while since I've read a company specific message on this board...instead of reading yet again another Freedom post about how China controls 97% of REEs and how crucial they are to clean technologies. On almost every REE related board.
Facts I've know since 2004 when I bought my first stake in RES. Yawn.
Was it Robert Redford who said that people who just discover sex are boring. Maybe he meant REEs?
Anyways this isn't good news....it's GREAT News! A development that's been in my prayers for nearly a year.
Remember gold has already been discovered here. RES believes that the chance of defining some 2 to 4 M ounces at Bear Lodge to be high.
And of course if the Cripple Creek model is confirmed, you can start multiplying those figures.
Remember too that Newmont's objective as a major is a lot different from a junior like RES.
The major is trying to add to its reserve base and, as such, it had little interest in defining 43-101 compliant resource. For RES that will be a priority as the PR noted in the upcoming drill program.
Also read between the lines. Why did Newmont's chief geo, John Ray, who's led their Sundance exploration for over four years leave his cushy job to join the high risk junior. Would you do that? You might if you really believed the chance was high for defining much more than Newmont's 5 million threshold...along with all the REEs on this project.
This speaks volumes: "the Bear Lodge property has many untested exploration targets that are ready for drilling, and thedistrict remains at a relatively immature level of gold exploration.The potential for discovery of major gold deposits is very high forshallow low-grade mineralization, and there is potential for discovery of structurally controlled high-grade mineralization at depth."
Read the unlined part twice. That's what Newmont didn't do...what will surely be done now.
Could one speculated the source for the already discovered gold would be there..."at depth"?
Check too RES's tech report on Bear Lodge. Page 57 notes that the historical drilling encountered high returns of 'heavy" REEs. However that was on Newmont's acreage...land which now reverts to RES. I would expect that to be drilled too shortly after the completion of the sharptail grouse mating season.
Yeah, I really like this development.