RE:More tricks up the sleeveThanks for posting -
“The farm-out strategy will allow ALLEGIANT to better focus on the Eastside project, in parallel with internally generating cash-flow…Further significant savings will be achieved by ALLEGIANT's decision to farm-out all projects while focusing exclusively on Eastside.” Very good news. Now we will focus on the core project with a more aligned board. As I have said in the past, although I can no longer find the presentation, I do remember Giustra when presenting the initial Eastside resource stating that they had at that point found about 100% more oz. than was presented, but as they were outside the pit limits they were not included in the documentation. If this is accurate, then we are talking around 700,00 oz and much of this will hopefully be formally identified within the “…
plans to undertake phase-II step-out and infill drilling at the Original Zone.” We need to add to this the understanding that
“Eastside also has numerous undrilled exploration targets and hosts historical resources of 272,153 ounces gold.” This could well turn out to be a district wide gold project. We have the potential for a good amount of catalyst information coming over the next 12 months. If you couple this with Eastside's geographical location, the needs of the majors re., reserves, the political/economic chaos that has/is/may well continue to push the gold price higher, then this may drive the shares of small cap explorers with ‘real’ assets significantly higher.
AUAU seems to have at last found its real focus having basically finished their association with Wallace and his company, aligned the board and focused its cash at the right time to take advantage of any gold improvement over both the short term (14 months to US elections) and the longer term (increased resource to reserve). JMHO.
GLTA -
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