RE:RE:RE:New Director on the Board...?????RH
A few of things happening......makes it a little confusing but still a solid play...till next march.
- How serious is this Corona Virus gonna play out ?
- Will gold crash back to the mid 1550's...not sure? Depends on the U.S.
- The point of the last 2 news releases... I think ..links there IP model to successful drilling so the overal deposit can be expanded quickly.
- IP can find gold in other area's
- Lots of money to drill until next year
- QMX positive news with Eldorado and QMX drilling within a km or so of probe South Pascalis ( Courvan Bussiere )
- 03 mining off shoot of Osisko...and PRB has.. mmm I think 6 % stake in QMX...something like that.
- I think explanation of drilling results will be quiet as Dave P will most likely Drill Garden Fault.
- Sleepy is 300,000 ounces good grades and to get ot 70 % Dave needs to spend about 7 million...or sell it back to 03 at a sizable profit ! Say 6-10 million !
- Drilling costs are low in Val Dor and PRB ( Dave P ) has always been thrifty..
- At the end of the day...Gold is rising to top dollar in each currency so Central banks are rushing to pull in physical gold....in case they need to back there currency to some degree ( albeit small ) Canada has 1.2 million tons...rouglhy and mostly for satisfying consumer demand and processing to a high purity.
- Borden Lake sold @ around 1120 U.S an ounce
- Over the last 7 years miners have sold non profitable operations and streamlined costs....so many of the larger folks are very profitable ( Agnico Eagle aside )
- Gold is up 45-50 % versus Borden.
- If it stays up or breaks 1900...then probably 200 per ounce in the ground so a modest 3.50 to 4.50 buyout with a kicker.
- Lots of Mills looking for feed product !
I think it's good....not great ...but a good growth play. Remember PRB see's the Drill results 30-60 days before we do...! lot's of lag...just hope you have picked the right horse !
GLTA