RE: DURK DOES THIS MAKE YOU FEEL BETTER?lol. Yeah, that's a little more encouraging. :)
I just hope that a million bucks is enough money for them to hit a couple of good holes. Since CAN.V is a comparison that everyone in Tanzanian gold plays likes to use these days, I went back to check where they were at this point in their life cycle.
CAN announced a 2,700m drilling program at Magambazi & Magambazi north in Feb, 2008. They raised $2.4 million in their PP at the time. They didn't make any really significant discoveries that year.
In 2009, they raised another $2.3 million, and 4 months later they hit their first big hole: 41m of 3.32 g/t. That was the beginning of the great bull ride.
So, in my attempt to follow this parallel... The only news I see for the Sisu River property are grab samples. So... they're probably closer to CAN's 2008 than 2009.
2,500m of drilling is going to be tricky. They have to hit something decent - decent enough that they can raise significantly more money next year. The grab samples are good - but to play devil's advocate, I've seen a number of companies post grab samples that were very impressive that later went on to be duds.
The big wild card for me now is quality of management. This is one of the most important factors of all for me. I'll have to do some DD on this topic, but if any of you have any tidbits of info about Harold or the others that are interesting or informative, please share!
Overall, I guess my interest has been piqued. I'll probably start buying up little pieces here and there.