RE:Timing question @ MackMack posted this on the SPA board the other day in answer to a question on NRG
Nevada
#3 Mining jurisdiction on the planet.
Elec / Water / Roads / Experienced Miners
Great all year round weather,
Relatively flat, small hills, no trees
The property was held in private hands for 100 years.
In the later 1890 - 1910 miners cut 5 miles of tunnels into the hills taking 200 OUNCE A TON ORE TO THE MILL. Not gpt, ounce per ton.
R Carrington bought the claim a few years ago.
49.9 gpt shallow oxide over 12.2 meters in one hit.
Heap leachable. / The Capex will bve cheap.
Great metallurgy / no junk inthe rock
Massive size.
67 miles from 20 mill oz plus Roumnd Mtn Mine / same geology
They have cores in the lab right now.
The IP results look down right exciting.
It could be a caldera = massive
Drill results on next Monday????
R Archer who started Great Panther is the CEO now.
Back of the napkin - 5 mill oz plus.
I want $5 Bucks a share / --no kidding
My comments were: that the management are a bunch of "doers" --there's no hangers on at the trough. They recognise the value of promotion, getting the project known to many investors. It seems management recognised the Nevada property as the ace in the hole, and sold out in Columbia to realise enough cash to finance drilling through to 2021. FD it's 135m shares, and at the moment a very modest capitalisation. It's much earlier days than SPA so one hell of a lot more risk, but I do like the look of the Pamlico project in Nevada. We'll know soon enough as the drill results are due, Anyways I'm "in". Not a Sprott dimension to move markets but just to have a small part of the action, if it happens.
In answer to your question, everything depends on the sucess or not of the exploration. It's a bit like vaccine development, many runners, and very few winners. For a mine NRG needs quality, grams/tonne and size of resource. There should be a good indication of possibilities with the announcement of the drill results. The signs are promising but as Mark Twain famously said " a mine is a hole with a liar at the top"