RE:RE:Update To be honest, I asked the company how much cash they have and that is what they told me. My best guess is options or warrants, I just wanted to be as accurate as possible, so I just parroted what they told me. As far as payables, I agree, exploration company's create value by spending money (drilling/samples), but currently there is no drilling going on to my knowledge, so the burn rate is next to nothing currently. I asked if the company has around $1.5 million and was told yes, around that. Once they start drilling again, that number will most likely go down a lot faster. As far as the shares being traded by anonymous, I'm not sure I understand what you mean. My take is if one person sells a lot of shares in a short period of time on a stock not very liquid, there will be a rapid (maybe artificial decline), if I am correct on this assumption, hopefully the rise will also be rapid when these shares being sold, dry up? As far as the grades, I will assume that you have a better understanding than me. That being said, Victoria gold is producing at (I believe) 0.62 g/t at a profit. These are maiden drill holes that all hit and like you said the widths are good so far, but much drilling still needs to be done, but 100 meters of 0.82 g/t sounds pretty good to me. If you toss in some circumstantial evidence with Sitka buying up ground covering the west, north and east of Victoria Golds property......I'm going to guess there is a reason for it. When it comes to metallurgy, I'm sorry, I think it is very safe to say, you will know a lot more than me.
I have maintained for the past few weeks, that I believe TLS has started to come into play and even though anonymous has sold by far the most, TD has also sold a substantial amount. My take on it is, they have a right to leave. Hopefully the shareholders who bought the shares have a little different perspective and want to be here and I would rather they leave now, than hurt us when/if the share prices start to move up.
This is an exploration company, there are no guarantee's, as Rick Rule would say, "it is a series of unanswered questions". Hopefully most shareholders have an idea of what they are looking for and what they consider good results.....in the end, I'm sure most of us will have differing interpretations, that's ok. hopefully with chatting, we can figure it out together. I realize that I may cheerlead a bit, but it is because I believe. I also hope people like you can offer perspectives that maybe I haven't thought about and maybe vice versa. Time and drill results will determine what Sitka is worth, but for now hopefully chat rooms such as this will help us determine what we should look for and analyze what any results mean.