RE: RE: Step out drilling news out!4 drills turning on site, and 43-101 expected by end of year. Any guesses as to what the initial size would be of the deposit. My guess in around 4mm ozs, that should double the current market cap easily, once the general market sentiment improves. Additional drilling should take it possibly to 7mm ozs. When all is said and done, $7-8 per share is a good possibility in a take out scenario perhaps by end of 2012.
Operational Update
Two barge-based and two land-based drills are currently operating on site
and will continue through freeze-up, likely in early November.
Approximately 8,000 meters of core have been drilled so far this summer,
and it is expected that the drills should produce around 10,000 meters of
core. Holes drilled this summer are expected to allow the Company to
revise the 43-101 compliant resource estimate for the deposit sometime
late in the second half of 2011