RE:As of today they are still Drilling at GoldstormThat is impressive! Thanks to the people on the ground and the weather-gods!
The more drilling the better, because so far they have been no bad surprises!
Rockport made the following prediction concerning the drilling programm of 21 on the TUO-board. In case somebody missed it I will copy it below. Background: We discussed the possible link between drilling time before resscources (for GS and PSZ) and a spin-off.
With Cobras information about the prolonged drilling season 20 and an ealry start in21 things might be even fast than rockport predicts.
Also, any idea if they will/should bring in additional drilling rigs. (Not sure, if the labs are the bottle neck.)
Rockport:
"I beleive the size of the Treaty Creek deposits is a real conundrum. If it was a series of potentially two to five million ounce deposits, they could continue drilling at their own pace. However, when each deposit is potentially world class the pace of drilling is a problem.
Obviously, it is extremely unlikely that the amigos will develop this themselves, so then the question is when and how do you sell/spin-off? Dividing the property and spinning off deposits separately would seem to introduce many logistical problems and eliminate the benefits of developing as single cohesive group of projects with shared facilities, shared access, etc.
My guess is 2021 will look something like this:
Goldstorm: Q1 Resource (mainly 300 horizon); maybe PEA to follow. Drill, drill, drill for follow-up Resource after 2021 drilling, which would include the 600 horizon and DS5.
PSZ & Orpiment: Q2-Q4 Drill enough holes/step-outs to get a decent sense of the grades and size of the deposits. Unlikely they can do enough drilling for resource, unless they have a crazy number of drills turning.
They could look to sell the project as package that includes all three amigos interests. Ideally, since the full extent of the PSZ, Orpiment and other deposits have not been defined, but are cleary significant, the deal could include a pro-rated royalty for the original amigo companies. It could also or alternately include a per ounce payments based on any resources defined at Treaty Creek.
Given the size of the projects, my guess is any potential buyout will have to include some trailing royalty or per ounce payment if it comes before the deposits are fully defined. This is possible because controlling interests are in friendly hands."