A Case for Renewed OptimismI guess the expression "Oh, ye of little faith" has been around since biblical times for a good reason. We mortals often tend to need reinforcement lest we imagine all sorts of ills to befall us. I must confess that even I, El Toro Grande, was wondering if the sharp selloff recently had to do with poor results or barren core encountered in the drills but not yet released. In other words, the field crews were feeding negative vibes into the marketplace. I assess the latest batch as business as usual.
Perhaps more importantly, on looking at the drill collar locations, I was surprised to see two things:
1. Quite a number of cores were centered on the same collars up and down the Magambazi deposit. This is cost effective and really gets the job of proving up ounces done in a hurry. Imagine fanning out from a central spot to see all around
2. We have seen nothing from the outlying prospective areas. I was really hoping to see Kwadijava and Semiwakilo come through with the goods to goose the market by way of new discoveries. But the boys are totally focused on proving up reserves.
But the glass is half full: We still have something like 20 kilometres of strike to explore. Sooner or later with the drills known to be working the other showings, we are going to hit paydirt. This will be the news to ignite the shares IMHO