RE: RE: RE: RE: RE: RE: Additional thoughts aboutJohn:
Each of those projects was recycled and had been looked at a number of times for the better portion of a century. All you need to do is look on SEDAR and go back through all the technical data and reports to see the previous work.
Take a closer look at your about Red Lake example: In fact, it is well known that there was a mining operation ON TOP of that deposit for many years. Really, all they did was drill deeper. Here's the real deal with Red Lake:
https://www.fastcompany.com/magazine/59/mcewen.html
A number of folks had looked at Friedland’s DiamondFields before they hit pay dirt. Additionally, Friedland had a terrible track record as an executive with Summitville; so really, your examples reinforce my point that these major finds were completely “COME FROM BEHIND” plays.
It makes sense that the companies in the Golden Triangle tout the Eskay example…because it the accurate geographic and geological model for the area.
No one has found another Eskay Creek yet. But as you know, no one has found another Hemlo, Diamondfields, Red Lake, etc. yet either. The name of the game is exploration. They look for stuff until proven right or wrong.
There’s no wiggle room on the Eskay situation either. The numbers don’t lie and are there for public digestion:
https://www.bcminerals.ca/files/bc_mine_information/000127.php
None of those even comes close to Eskay’s numbers when it comes to Silver. And “guestimate” production numbers for gold out of the ground out of the ground don’t cut it either.
Lastly, Peter Munk is stuck in the 20th Century, with his stock price essentially flat over the past 3 years and a whopping $10 increase over 5 years despite the price of Gold going up more than 300% over that same period. Why? Simple…he was betting that gold would likely fall and had a hedge book running, which essentially killed shareholder value over that time:
https://seekingalpha.com/article/123205-barrick-gold-nails-the-hedge
When spoke about 5+ ounce deposits, keep in mind the price point of gold he had in mind—a few hundred dollars!