A bit too optimisticNine lives,
After talking with John twice in the last 2 weeks, I think 20,000 ounces of AU is a stretch for this year= 12,000 - 14000 is more likely However,they are mining a portion of the mine that the assays are giving up well above an ounce per ton. When I was there in June, Dan Everett(mine manager) opined that the up to 2ounce / ton ore should not be mined until the .6 ounce ore was taken out. He felt that management wanted to get the high grade stuff first even though the cost of getting it was higher than the lower grade ore. The higher grade gold would require "backfill" to be brought into the mine at additional cost. The lower grades would use the waste rock generated as backfill and thus reduce the costs. Eugene, with much more mining experience, won this round and overruled Dan apparently.
The drilling mentioned in the June release has not started yet.. The company has received 1 /2 of the first shipment money and is expecting the first half of the second shipment money within 2 weeks. This will be about $600000 by the end of July with the remaining half coming before the AGM in August. They were shipping another load out yesterday of ore and that shipment's 1st half payment will come in August). They are doing some serious mining as we speak.
John was not as open as he has been in the past. He stated some of the info would be considered "insider info" and thus he would not discuss it. However, the tone of voice and the context indicated to me it was positive. I did complain about the insider trading and he did state that he was aware of only one director selling on June 26 to get funds to pay back a loan that the director made to CRD. It did not make sense to me but that was what I was told.
He did say they are working on financials and another release would come out when the next payment is received along with some other "good news". I don't know what it is.
Hawk, Your cryptic comment about financial lurkers plucking off CRD made me nervous. The price of the stock is so dirt cheap that it invites a takeover but, the stock appears tightly controlled. I don't see how a hostile takeover succeeds in this scenario. Kindly explain if you are comfortable to do so.
Polish63