RE: RE: rumours of merger with CDOAs a long time observer and stock holder I have a few comments. First Randar on most things has been dead right about everything. The mangement has taken way too much money out of the comapany and up to now has had nothing to show for it. Dr. Bailey was a complete failure after I and many other people thought he was the answer however I caution people to ignore his final report because he was an embittered man with a financial dispute with GWR and wasn't going to say anything positive. As much as the mangemnt takes out every year(which is too much) some utility is derived so lets just say its half the value. Another thing to point out that Irv has taken that money and plowed back into more shares so that mitigates some of that too.
However the bigesst plus is now that Rob Shives is the head geo on the projects and has taken the steps to buld a real project despite some the bad decisions of management.
1. He went back a relogged all the old core GWR has drilled and found out a lot about the property. This including new holes he drilled(and delivered assays) in the Aurizon south he discoved a au/cu zone of predictable significance . The zone is deep and expensive but mineable especially since the overburden will pay for itself to be mined. They have a drill on that zone right now it is showing to be open in a couple of directions.
2. He also has gone to the skarn magnitite/copper zone and instead being 400k tons(reported 43-101 compliant) its going to be in the millions of tons. They also have a drill on this zone. Reportedly Teck has a huge demand for this type of ore and since its right on top it would very inexpensive to drill and produce cashflow if Teck remains a buyer.
3.Mr Shives went back and had the IP of the whole property which is quite substanial in size and has idenified several blue sky projects. Not worth much for now but has a great future.
Summing up everything I think because of Shives this project has a ton of upside but we still could use modern management( as randar rightly pointsout). I have been told there will be an updated PR anytime in the next few weeks. No idea of what it says but it should be a continuation of the positives we have seen.