Geology and Geography I have been in the gold mining business for well over 20 years. Recently, I've had the opportunity to not only meet but, have some long informative conversations with one of the worlds foremost experts in Geology. He attained his Phd in Geology by studying and locating gold anomalies within the earths crust, mostly within very old rock masses.
He was hired by Barrick to study the existing Hemlo properties in order to extend the mines lives and has been sucessful.
I said that to quantify my next statement which is, Guy and the PLE team did not randomly rush out and option the newly aquired property on a whim. There were Geologists scouting this area for quite some time. I suspect long before ARU hit the big leagues.
I'm guessing this newly aquired land package will no doubt produce some decent results as it seems most of the claims in that area has produced amazing results to date.
It is my feeling that there will be several producing mines along that strike length that goes into Peru on existing PLE claims.
How the market takes todays news is anyone's guess. I suspect a small uptick in current prices tomorow will most likely be the case.
I have to say though, Guy and the PLE teams never ceases to amaze and keep us second guessing their next move.
Best of luck to all PLE investors going forward...Mad