RE: Rising Gold
I agree #13 that rising gold prices will be good for any jr. company that has a gold property. Gold at the time of this writing is at over $1486/oz and silver at over $43/oz.
According to BNN gold is expected to cross $1500/oz by April month end and depending on whom you listen to; to be at $1600-$1800 by year end , with future prospects at $2500 or higher.
Most large gold producers in the world run at average 0.5 gpt (grams per ton) gold providing that the tonnage is sufficient.
What high gold prices will mean is that 0.5 gpt could easily be lowered to 0.3-0.4 gpt. and the ore body could still be economically mined.
This bodes very well for ESO that has the Mikwam, and now the Donna properties that have many times the multiples of 0.5 gpt. The M property has already shown very high gold values, and the D , although in just the birthing stage of developement, also has shown future values may be very exciting, especially if it turns out to be a very large ore body. The D property, to me, seems to be more of a silver play with gold being the cream.....but June's drilling should clarify that situation. If the source rock is located, then a happy and extremely prosperous retirement to the longs in ESO. (Well deserved and over due IMO !!)
What is over looked with the U properties is that they in themselves have anomolous gold values that are over the 0.5 gpt. with some U properties in Sask. having Bonanza gold grades (and silver). As I stated before I was in on the analysis of the Cluff Lake mine ore deposite and they had some phenominal gold values.......in excess of 400 opt (yes ounces) gold and 1500 opt silver (with +80% U3O8). U and gold are often found together especially in the Athabaska area of Sask. If ESO and FIS (jv) drill their U properties as planned, we could see secondary gold easily coming into play at these high gold prices, perhaps in a larger way then we presently anticipate. It could be a gold play with U as a side asset. It will be interesting to see if we will have U properties with Au or Au properties with U in the Athabaska.
As I see it; Remember your DD!
Solver