RE: RE: Like I said, back in $0.50sBlue,
Well I thought I would give you you're due. Back in the 50's we are and the market has spoken! But markets are never efficient and often wrong, and only time will tell. But for the time being many other stocks are flying high. But as an example of how markets can be distorted if we are worth nothing then how come AGE Adventure Gold has almost quadrupled purely on their tiny piece of GBB's supposed golden find? I am of the opinion that games are being played with this stock but the fundamentals have not changed. Taylor1988 posted at 1030pm on Feb15th a comparison of our results and Brett Resources early results and they are virtually identical! Clearly the market does not understand the difference between drilling for structure and grade and so we are bein slammed. I think there are quite a few large players who are very happy to accumulate at this level knowing these latest results and being a bit more knowledgable about the difference. But at present you are right and the price is down. Will put some of my money into more "active" stocks but will be back in force before that 43-101 is released. Many people are gonna be scratching their heads when they see the amount of ounces these guys are able to report. Once they go back and drill for grade and the nugget effect comes into play the grade should improve by at least a third. I would say at least .7-.8 grams per ton which is very economical on a deposit which will be in the hundreds of millions of tons. Castle Gold which i owned for awhile and which is now the starting block for Argonaut Gold's management team to put together there next mid tier play is mining at Castillo with a grade of about .4 grams a ton and 100 million tons of ore with expansion drilling on going. Their production cost is $500 an ounce which provides plenty of profit in todays world. Based on the latest news release where they say they have 1200 meters by 500 meters by 140meters I would say they have a minimum 200 million tons so thats about 160 million grams or 5.5 million ounces. For the time being I will concede that the market doesn't "get" what GBB has but in the near future with a 43-101 backing it up many people will be shocked that they couldn't see it earlier. This play is just like Osisko and will need at least another 100,000 meters of drilling with half of that being for grade. This deposit is still open in ALL directions and could take another year of drilling to find the limits of it. Frank talks of at least 5000 meters of strike and that the depth could go many 100's of meters still deeper. I WILL AGREE THAT AT PRESENT THERE ARE STOCKS WITH MORE NEAR TERM UPSIDE, BUT TWO YEARS FROM NOW THESE PRICES ARE GONNA LOOK LIKE FANTASY! Will keep a decent position but will load up again closer to the summer to catch the 43-101. I think these guys will prove up well over a billion tons of ore and ucing a cut-off of .25 and an average grade of .7-.8 they will have a world class mine. Like I said Argonaut is making lots of money with a cut-off of .25 grams and a grade of .4 grams and they are looking for more of the same. The news release was not presented for the average investor but was technically designed. I can read these numbers and I see alot of gold with alot more to be found. You do what you want Blue but at some point in the near future you might want to catch this train again before it heads to higher ground. Good luck in all your investments in 2011!
Longrider