Low Market Cap
I find it interesting ..
that a number of people here keep hanging on based on the low market cap of the stock (and low float)...
A small market cap means nothing unless they are able to show there is value in the Red Cliff region. More recent results (and those supposedly expected by now) may also be suggesting it is localized. If that is the case and confidence wains on the ability of this play to make it past the first test then it does not matter what market cap DEC has if it is not able to identify a high probability of a producible resource. It is all about the area play being able to deliver if one is thinking beyond the next six months of drilling. Delivery is about a multi million ounce operation for the big boys to take it over.
If they can show with continuity of drill results that there may be growth then a low float is great because share dilution can be minimized and shareholder value maximized. One should treat this stock as a trading stock and not a longer term investment (other than a small core holding).
The Montrose Zone is localized in terms of drill results to date (mostly Waterloo section). The key is does this zone present continuity going north and west into the Silver Crown property (100% owned by DEC). Extension to the east and south may be limited. We would really like to see those Little Pat and Lydden Creek drill numbers. Is this delay telling us something about this area. It is unlikely they we come out with results tomorrow ... earliest monday!
If these two regions do not deliver then it is on to Spring time drilling for further hope. As mentioned in an earlier post the stock price already reflects future drill targets for hope. However, the market can punish more (loss season ahead). I would have thought that as some people call "retail" investors are either licking wounds and hanging in or sold at a big loss. Because it is such a thinly held public (non insiders) traded stock much of the latest action is driven by people in the know who keep taking profits at these levels. Some retail investors are panicking and writing off now before the big loss season starts in Dec (no pun intended). If these guys do not deliver better results this month then next month will be a greater opportunity for those who think Spring time Drilling may bring rewards.
Rushed holes! not so sure about those now!
Disclosure! Yah I am in there too!
jmho