GREY:TWNNF - Post by User
Comment by
gamblor77on Jan 23, 2011 11:15pm
627 Views
Post# 18015517
RE: Some People
RE: Some PeopleCan you please elaborate as to why you think it will be another 6 weeks before we hear about results? Because I have been told directly from IR that they are aiming to have a 43-101 finished by the end of Feb. So I would assume they would be rushing as many assays to the lab as they could to get their number as high as they can for the resource estimate in 6 weeks. I would be wrong on that but for them to have a resource estimate already they have to have quite a lot of existing date and must be pretty confident.
I sent them an email commending them on their good word and asking when assays were expected etc. Regardless, here is the response I received from Dave Reid (Trelawney IR) from mid December.
DAVE: "Thanks for the kind words and support. I'm not certain therewill be a release prior to year end as the exploration dept is working hardon the NI43-101 resource calculation. Drilling has stopped for 2010 butwe have 60000 metre program beginning in 2011 and will have 5 drills turning. Weare looking for great things for 2011. Regards, Dave"
ME: "Thanks for the response Dave thatdefinitely clears up a few things. I don't suppose you have a ballparktime frame when the resource calculation is expected do you? Forexample, would be it be closer to Jan/Feb or much later after moredrilling is done. Just trying to keep everything in perspective.
DAVE: "We are shooting for late Feb for the resourcecalculation. And also we are not able to divulge the location of thepending drill hole locations until they are released. Dave"
I went back and forth with him a little more but essentially it seems like TRR has so many things going for them it's almost impossible to not break at least $5-8 this year IMO.
A mine going into production this year and preliminary estimates of 3-6 million ounces (from the TRR people), $60 million in cash and fairy low number of shares, consistent cores of 200-600m at 1-5 g/t. How can you go wrong honestly? This is a done deal IMHO!!
GLTA,
Gamblor.