GREY:KXLAF - Post by User
Comment by
hrattleon Mar 24, 2011 11:10am
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Post# 18334161
RE: RE: RE: Facts are...
RE: RE: RE: Facts are...Dude they started drilling in January
And by 25 Feb they had drilled 1,836m of their 20,000m program,leaving 18,164m to go. By now they may have drilled another 1,000m. This is Magino alone, I believe they are drilling elsewhere - Milestone and Wildgoose - but I haven't checked this, so they may have pending assays from these.
That just about throws all of your calculations out the window doesn't it?
NO!!!! Never throw calculations out the window!!! What is does say is that sometimes the unknown is worth more than what we know. But what we know is that PDG is trading at a premium to their known assets (as you say many juniors do this) and there is nothing wrong with that so long as your due diligence can justify this. In the case of PDG yes absolutely a premium could be justified based on projections of the open areas in Magino alone, not even counting what Milestone or Wildgoose could prove to be. I don't think it is wrong to hold PDG - for me I set a target of 30% profit (which is NOT pennyflipping) and as nothing changed I sold - right now that looks like a mistake. Some consolation is that my warrants just turned positive and if we go over 60 cents I will sell them. If you invest in juniors it really pays to be disciplined.