RE:RE:RE:RE:RE:DrillingTo be honest - I wasn't really expecting any particular price at this stage, but if no good find is made on Vulcan this drill season, I expect the share price to nosedive even further than it has in the last two months.
This is a stock who's volume in the last four trading sessions has totaled a whopping 7,000 shares, and who's higher volume days of closer to 100,000 seem to be mostly to do with opportunitic arbitrage trades to do with the PP.
As far as I know, none of the royalty properties are even close to going into production. If Banyan's Aurmac property is considered the flagship NSR of ER and isn't even to a PEA stage yet, then I have to assume the rest of them are orders of magnitude less developed.
The current optioned properties are also probably 12+ months away minimum from even having any drilling done on them of any kind. This recent NR about Nev Gold's spinoff company and the 100% earn-in agreement on five of EPLs properties seems to be more about keeping EPLs balance sheet afloat with cash than giving EPL shareholders any leverage to potential discoveries made on these properties. $1,000,000 and 10,000,000 shares of the Nev Gold spin-co does not seem like much at all relative to what is being given away. If anything, it seems like more of a monetization of assets to probably go towards future drill programs at Vulcan.
As far as Terralogic goes.. Yeah, it's great that EPL is getting a steady stream of cash flow, but I doubt that the market will be assigning any value to that given the high lack of liquidity of this stock and it's general lack of marketing. Having a lot of cash on hand won't move the needle if it's not being re-invested in the projects that EPL has at least a carried interest in IMO.
I'm not knocking the company one bit, as I myself don't like seeing obnoxious amounts of money being spent on promo, and Vulcan is the biggest reason I'm in here in the first place, which I already assumed the risks of. But as far as all of the other things that EPL has going for it - I just assume I'll be holding a bag until all of those other prospects come to fruition.