UpdateI spoke to Graham, mostly what has been already reported, but some not:
- #29 results due out in 2-3 weeks, visually looks as good or better than #25
- #31 & #32 just being finished up, turn-around time at lab is 3-4 weeks now, #31 is looking for the NW edge of the deposit (no knowledge from Graham whether visuals are good on this, as has been previously reported here)
- #30 (this is probably an angled hole, looking to test the contact of the Alaskite and Andesite over a long length where the project manager thinks the higher grades are. Where other were drilled vertically and penetrated the top and then the bottom of the alaskite intrusive, this hole has attempted to stay in the zone for as long as possible ...it sounds like it might be drilled to obtain a better understanding of the higher grade deep stuff
- Bard seems to be juggling 2 mining scenarios - one open pit at "run-of-mill" grades, and one underground at higher >.20Mo grades. Then they have more options, if for instance permitting for a pit wasn't easy to get, or go underground after the pit has been mined.
- deep stuff is in the direction of Fish Pan Lake, SW of the pipeline
- QB and Grouse property appear to be sidelines, with most efforts on the Alaskite to prove up tonnage. This is just what the results at Alaskite so far have dictated ...the other zones and Grouse will be explored further this summer however
- Financial: just under $4mln in bank, burn rate is about $750K per Quarter ($25K per hole), not looking for financing until more results our out and digested (i.e. when stock price is higher!)
- Stock Float is large - not many institutional holders, so almost all shares are freely trading, including Tingley's
- Gold Property - could be a surprise later in the summer. All expenses being paid by SLAM.
My opinion: Bard will make us money, we just need patience. Stock price under-performance is 100% a result of languishing junior markets, related to broad investor worry. Management is doing what it can to keep things moving forward in this environment.
Bubs