RE:RE:RE:RE:African Gold Group Intersects High-Grade Gold at Kobada Goldmain point of drill program is to convert inferred over..........................to get to 1M oz of RESERVES...................THIS IS EXACTLY WHAT THEY ARE DOING !!!!!!!!!!!!!!!!!!
Is it low grade??? of course!!!!!!!!!!!!!!!!! But its a SHALLOW OPEN PIT FOR GEES SAKE!!!!!...............in a low cost jurisdiction..............and its FULLY PERMITTED!!!!!!!!!!!!!!!!!!!
Bonus on drilling as they have also been extending out the ore boday...................................................................
If you dont mind Africa, and I dont, this is a no brainer at current levels...................at $1500 gold the economics are crazy good................................
THIS DOG WILL HAVE ITS DAY.....
all imho....
Treetop2 wrote:
Correct. There's pretty much nothing these guys can do now to get any credibility back. Just consider a couple of points:
-They are reporting infill drilling, not discovering new deposits. So even if there is the odd high-grade hit in a limited area, we ALREADY KNOW it can't grow into a significant high-grade trend, because that hole is already surrounded by low-grade holes. So mathematically, they can't upgrade the existing resource (which they keep on re-drilling in all directions hoping for the odd hit) to any great extent.
-This fantastic hole number KB20_PH4A_ 12 that they are hyping in this news release was already shown in their funny coloured picture in their news release of November 19, but it wasn't labelled. How come? So they could talk about it again in another news release with a different spin, as if it was new information. What they are calling 1.09g/t over 43.5m is actually about 40m of waste rock, with that one nugget towards the bottom, out of reach of their pit shell. And why don't they talk about hole 13, which was drilled into the existing pit shell, and found nothing at all? And why is hole 15 not even worth mentioning or reporting - presumably another dud. So when you combine those duds with the odd nugget, is the resource estimate going to increase by a fraction, or maybe decrease? And will this management ever tell you the real story?
They are selling smoke and mirrrors. Buy more, if that's what interests you.