hmmmmmm. i would have to think thatresults from Eleonore South will start trickling out before the END of May. More like anytime now for the first 3 or 4 holes. I also doubt that the drilling is complete (unless you can verify that comment from talking to their IR team). I look at the recent runup in share price (and heavier than usual volume) to VG noted in drill core from Eleonore South and would suspect that they have sent the first few holes RUSH to the assay lab (hence late April/early May for the initial results.
Clearly the two KNOWN deposits they own (Eau Claire and Eastmain) are the base for their $1.30 share price and both deposits will surely grow in proven ounces, however, it is the lure of a new discovery (deposit) in Eleonore South that so many people on the sidelines are waiting for. The type of gold-in-soil anomaly they have certainly indicates success in drill core and I would think that this bit of drilling is one of the major drill programs a lot of investors (and GoldCorp et all) is waiting with *bated breath* on.
I am confident that they won't dissapoint and the shares will immediately jump to the $3.00 range and then head higher on further positive drill core intercepts. How big it will be will of course be determined by drill core widths and grade and this will take time but the initial excitement of a new find and possible new Eleonore-style deposit should keep things very very exciting for this company for months ahead.
The stock still seems pretty cheap to me and represents a good buying opportunity before the news starts to flow.