RE:RE:Drilling strategy - contemplate carefully! They just finished raising 13 million… Most of the participants were high profile, mining individuals and Kinross. Both Eric Sprott, and Rob McEwan typically hold their stock. They know that if they are seen selling early that the masses will interpret that as a loss of confidence in the project.
To the best of my knowledge, Rob McEwan was not previously involved in LGC. His participation should speak volumes. Eric Sprott took additional stock… This should also speak volumes. Kinross becoming involved after a site visit and I suspect inspection of the core took down more than half the private placement. Kinross also negotiated a anti-dilutive clause so that they could maintain their percentage ownership in the company. All of these things are positive not negative.
The four month old is required by the security exchange… It is put there to protect investors, and ensure that those participating are not in for an immediate flip. But remember those who previously participated increased their holdings… That includes the entire management team, and directors.
Everybody involved is sensitive to sending the wrong signals to the market. They are not going to be selling their stock. More importantly, take a look at the drill hole they hit for the discovery hole. Drill holes like that don't come along very often… I have only seen it three times in my lifetime. One of them was a scam… Bre-X. But the others turned out to be billion dollar properties/companies.
It's early days. We need to be mindful of that vertical holes are likely to be 300 to 400 m long. Any diagonal holes are likely to be well over 500 m long. So an additional 4000 m of drilling during 2023 will take some time. Management is not going to likely disclose the results only for hole two unless it's another amazing continuity discovery hole.
It's more likely that they will have 6 to 8 holes drilled and then they will do the analysis and release the results of select holes. Be patient this is a marathon, not a sprint..