dates
It has been a while since I posted. From my recollection, Shore always said, at least the people I talked to, said the strip could start as early as late 2010.
As in most mining situations, a few delays happened. One of the delays was the lack of availablitiy of companies to do assays, and do the minerals reource calculations etc. That was close to six months.
We had a resource run that took over all our geologists, engineers and consultants. To me the delay is pretty normal.
To now say it is starting in 2011 is not unrealistic. They can start to strip the the overburden long before other issues have to be done.
All I know is - and I haven't been on the blog here - for a long time is that 40,000 tonnes a day at 12.5 cpht at $227 per carat is huge. $12 per ton profit is half a million dollars a day. $180 million a year or $1 a share. At a 15 to 1 PE ratio that is $15 a share. Of course it will be diluted a bit, parts sold off or whatever.
Lots of people will say, sell now and wait to pre-production values. They will miss the buy-out/takeover so --- one of us is right, and one of us is wrong.
This story has not changed over the last 5 years that I have been holding it.
YES I am stupid for not selling at $7.50.
but my hindsight is not that good.
Hey Crocky, stay off my hindsight.
The Grizz