RE: ETG 20% of OT JV got no respect
The fundamental issue is there is no paper to promote. Look at today's market - gold tops $1475 - ETG is sitting with a chunk of the highest gold ore at OT (Heruga and HNE will produce 20 million or more ounces, and since the deposits remain wide open not difficult to imagine possible multiples of that).
There is a concentrator and extraction facilities for the Hugo North mine proceeding gangbusters, which should also enhance value. The scenario of HNE mining not being advanced in time when the ore is the best by far and the taxation and capex repayment, not to mention the peak copper market are ripe for a few near-years ... well, you have to draw your own conclusions.
ETG trades piddling volume and falls off a few cents. The real public float minus MM trading and flippers must be very tight, and without any story of resolution and near-silence over the tremendous upside possibilities from drilling-out the properties (just following the ore bodies that are going solid and strong on strike) ... nada.
It is really extraordinary, but that's why there is so much potential as well. For those of us locked and loaded it is very frustrating to wait, and it is hard not to conclude somebody wants you to feel frustrated and dump your position at these prices.
Not a happy situation to have ebbing faith in management supporting and enhancing the share price. But for myself, i believe it is purposeful and temporary. What I like most of all is the asset to price value - solid as ... a rock?
Hang in? Can't speak for anybody else but I've got my heels dug in. Meta in the village makes a very good point about other opportunities while the markets are bubbling - the wisdom of sticking with a plugger stuck in the mud, or being pushed back into the mud - while time and opportunity beckons elsewhere - is certainly very debatable.
I expect somewhere in the JV or the 100% ground, or both, some smart people expect something further and very big and valuable to be drilled. Then, release the hounds. How long, RF? How long?
He is one tough hombre to ride with, yet those that have hung in his posse in the past have ultimately scored big. Same here? Can't promise nothin'. But like I have said scores of times before, when promoters don't promote something seemingly super-promotable ... look hard.
Grrrr.
cg