GREY:LACHF - Post by User
Post by
RedHorizonon Jul 09, 2009 5:04pm
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Post# 16128281
New 43-101's
New 43-101'sI spoke with the company recently and here is the new expected news release schedule:
August 7 >>>>>>>> Quarter 2 EPS
End of August >>>>>> New 43-101 on first supergene zone in the Hassai VMS. Not the entire target, just the supergene zone.
End of September >>>>>>>>> New 43-101 on the second supergene zone in the Hassai VMS. Not the entire target, just the supergene zone.
So between now and the end of September we have 3 news releases coming up which should each add real value to the company. The EPS report, I believe will be better than in Q1 since production in Q2 will certainly be greater than 18000 ounces which we had in Q1. We already know how Frog's Leg did from Dioro's report, at least in terms of ounces produced. Then when the 2 new 43-101's come out we will have increases in company wide gold ounces.
What's great about the new 43-101's is that they will be describing relatively high grade ounces with huge base metal credits. The supergene zones are very rich with metals so these additions to company resources should receive significant value from the market. One thing to remember about the supergene zones is that by themselves they would be profitable enough to pay for the full VMS capex in a short payback period. This makes the financing of the VMS a layup IMO. Debt should be obtainable for the VMS since the supergene zones can repay it rapidly making it a low risk loan.