RE: Holes were 1st drilled 15+ years agosnoopee: " simply redrilling areas 15+?? years ago and confirming moly! THe smart money bought at 0.06-0.13 cents and followed the workings of MM. I was one of those that had bought but sold ... at $.28 .. Be cautious!"
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Yep - you probably bought Consolidated Stikine at 0.10 and sold at 0.28 also, since it's property had been drilled many many times over a period of 50 years.
All those earlier drill holes didn't stop it from hitting $73.00 though and getting bought out at $70.00, did it?
" In 1988, Consolidated Stikine was a $0.10 shell. By August of 1990, it was trading as high as $73 before being taken over shortly thereafter at $70 per share by Homestake Mining (now a part of Barrick). For those who like to think in percentages, that is about a 70,000% gain, or 700 to 1."
Interestingly, before the Eskay Creek property landed in Ron's lap, it had had a history of over 50 years of exploration work by a number of different companies, some of which had returned to the property several times. He picked it up because he liked the mineralization and because he likes to buy properties that have been extensively drilled ... with better information, there's a better chance of hitting a deposit.