RE:RE:RE:RE exploration drilling updatesHe has mentioned a few potential calalysts in the past including getting the average annual production number over 300,000 ounces per year. While he did not say he thought this project would get to that point, I don't think he would have mentioned it as an important benchmark unless he believed it was attainable. That is likely a more long term catalyst while in the short term I believe the updated measured and indicated number is going to suprise to the upside, can't control what the market will do, but this i would expect it provide a boost to the share price.
I am very excited about the 20 "high priority" targets shown on page eight of the current presentation. While we won't have results on all of them this year, the same geophysical work went in to determining each of them, should the first few show strong results it might lead one to believe the remaining targets have a decent chance of similar results. Again, I don't think Dave would point these out as "high priority" if he did not have strong conviction based on the geophysical work that they would be good.
In a recent convesation with a much larger investor who talks to Dave on a fairly regular basis I threw out, "what if this turns out to be a 400,000 ounce per year project with a life of 20 years not 12.5?" He understands the geology 100 times better than I do, and he did not think that was out of the question. Certainly did say that was his core thesis, but has a strong belief that the upside to this project is much greater than what most people are currently considering.
It is still a speculative investment, but as I have said repeatedly over the years I have a great deal of confidence in Dave and the team. Some will point out their salaries as high, but top talent in any industry is always paid multiples of average talent. If I am going to stake a large investment in a company I want it to be run by the best and am okay with that cost. Think about the holders of now bankrupt Pure Gold, I believe that had/has great potential but the investors were wiped out by poor management. As credit continues to tighten, it is that much more important to have a leadership team that has a demonstrated history of maintaining a strong treasury.
Enough rambling, all just my opinion.
Best, JM