GREY:AXXDF - Post by User
Comment by
RBCHY7on Mar 22, 2011 1:34pm
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Post# 18322571
RE: THAT WAS NOV!
RE: THAT WAS NOV!The original target of 400 to 500 MT was announced in Nov 2010 when most of the drilling was completed. So I wouldn't expect the initial resource estimate (to be released anyday now) to deviate too much from the original target....although the final assay results (that were released late Jan/early Feb) should hopefully push it closer to 500 MT.
The north zone is still the wild card and any meaningful increase in the total resource estimate will come from this zone (and maybe a new zone?). Drilling in the north zone will be completed in the next couple of weeks....hopefully some of the eariler assay results are announced soon.
Bottom line, once this project is de-risked, serious money will be made by all involved. You would have to slap a $1billion market cap (approx $13 per share) on this company once production is near (2013-14)...and that might be conservative.