I am on Board...First Post..
After watching and studying and a very thorough analysis of this Company over the past six months, I decided to take a significant position today.
The exploration success of the Contact Zone was an eye opener but what sold me is the recent discovery of the 147 Zone running parallel, 150 metres to the East of the Contact Zone...and...the growing list of successful intersections...I believe that they are onto something very significant!
In my opinion this region located 4 km. from their Black Fox MIne could very well be the making on their second Mine at the Black Fox Complex.
Their exploration success is amazing but what made my investment decision that much more appealing is what they have done in terms of cleaning house financially and the performance of their processing Mill....they are averaging 2,000 tonnes per day on a regular basis and will soon be looking to expand the processing capacity in staged phases to achieve an eventual through-put of 3,000 tonnes per day....Very Nice!
I really like what they have done with the hedge book namely...unhedged...this is very market friendly in this gold price environment!
Also, they are demonstrating to the market that the Timmins Operation is their Flagship and will spur substantial growth and profitability into the future...unloading their non-core assets was a very business savy move!
I am looking forward to the next couple of quarters when they will fully demonstrate to all shareholders that their development efforts have paid off and production and profit figures will rise accordingly.
They presently have five drilling rigs active at the Contact Zone and the 147 Zone which will give us a steady diet of assay results and more excitement over the rest of 2011....I am very much looking forward to continued drilling success...the factual information provided thus far is speaking loudly!
So...what do we have?...A producer with growing production at a reasonable cost per oz....plus..exploration success that will lead to a NI 43-101 Resource Estimate by the end of this year....this will add value...big time!
Digger144
P.S. Good Luck to All!