LeMarcus wrote: Good points also. Most likely, they had already prepare/drafted a PR for their visit on the Silicon Ridge. That was they end of the "exploration program 2017 (a part for silica essaying that will be out in couple weeks)" and that was on plan. They have local news coverage and all. So, i guess what happenned is more likely a very quick reaction to the turn of events.
I have been discussing the Radio Hill Gold prospects with Sean and Paul and many investors in 2016. Mainly, when RRS sold the Pen south property to Rapier (Old Timmins West). They could have sold Radio Hill also, as the Iron market is clearly not in favor of "taconite to pelle operationt" in a low commodity environnement.
The Gold prospect of Radio Hill, and good location on the land package was probably one reason the property was not "sold in 2016". Search for "BIF gold" and you will see that Radio Hill has a lot of caracteristics of BIF Gold Deposit... so it's a good prospect.
But back to the NR, company has many investment opportunities they are looking at, but mainly want cash flow from Silicon Ridge to finance any new important Capex Projects (or early phase of developpement). Exploration companies that go after too many rabbits at the same time, most probably won't catch any. Silicon Ridge is now ready for prod, only needs permits.Silicon Ridge is known to be a "seasonal operation", so it is likely that Sean and Paul were getting ready for some fall/winter projects; not excluding drilling at Radio Hill. The fact is ... they won't have to handle the heavy strain of first production at Silicon Ridge this fall/winter... and they learned that 5 days ago.
They also need to stay motivated and active, so they just pushed up one of the opportunity they have, that is a near term(quick to action), low expenses, short term (effort is ponctual) and with a high potential return. In spring 2018 they will be very active getting Silicon Ridge Into production (if permitted and etc..).
I don't see it as a desesperate move, i think it's just that they were ready for this project, and waited for some more availability... now, they have some... so ... i guess, it's a good idea to give this "potential BIF Gold deposit" a shot. If Gold is there, that is just a good next project !
And finally, contrary to our nice silica project, it doesn't take much understanding of gold for investors to get bullish. High grades and long interval... investors flock in! As i say, for the 4/6 months of "off season" at Silicon Ridge, we need to keep management motivated and creating value!
NR says "Company is applying to drill up to 2,500m across very promising gold showings at Radio Hill in Ontario". Showing means... there is some gold... for the rest, lets see what the drills find!
Also can this information been shared under one release? The fact that the Silicon Ridge was stripped was not mentioned in the Friday release. Messaging has an impact.
One question in today's release: See sentence - "detailed mapping and sampling and to confirm the depth of the overburden in the area". Is there going to be more work on Silicon Ridge to be done? I imagine that they can sample without the permit?
I understand that the company needs to do something and the Radio Hill move make sense but I think there is a valuable lesson there.
https://www.marketwired.com/press-release/rogue-announces-permit-delay-at-silicon-ridge-tsx-venture-rrs-2229837.htm
https://www.marketwired.com/press-release/rogue-announces-completion-initial-stripping-silicon-ridge-plans-drilling-gold-targets-tsx-venture-rrs-2230051.htm
LeMarcus wrote: DoctorFouad wrote: Adaptive nimble management, not wasting their time or shareholders money. This is the kind of management investors would want to deal with. In the mining sector, delays and unforeseen hurdles are part of the game, it is how management deals with them that makes all the difference between a successful long term investment and short term plays.
SP is so depressed, and still potentially so close to production(less than a year), we can get back to saying 10 baggers in the making. Sad to see SP so depressed, but will be fast climb up the ladder when company gets permits and we get not 4-6 weeks of production but a complete season or so!
For those confident in the project, management and now the gold prospect, it's a buying opportunity.
Contrary to good silica results, stocks moves fast on good gold results! In any case , we have to wait and see. Gold is a good potential premium reward while waiting for the silica asset to flow $$$.