ThoughtsAndy: "Oh..they found a 20 years old report on a hole90-01 but reporting it in a different way.... Now why this hole was not reported before ?"
Roger told me that they only knew about this hole until a few weeks ago. Why that is the case is something I don't know and frankly don't really care about all that much. This is one of the most important holes ever drilled on the property and what really matters is the fact that it was drilled and we now know the content of it. Do I wish we knew it sooner? Yes, and I'm sure management feels the same way. On the other hand, I'm not sure if we could have been loading up at these ridiculously low levels if this hole would have been published a year ago. Now let’s just hope there are even more historic reports not yet fully reviewed.
Teatimenow: "he still says they wanna do a royalty programm for shareholders, actually distribute 40-50% of the physical bullion once in production."
This is also what Roger told me a few weeks ago. They consider giving up to 50% of all gold production to their shareholders free of charge to be a very strong poison pill that will deter ANY offer instead of just buying more time to search out other offers.
For those of you that haven’t heard about this Shareholders Gold Purchase Program, you can read about it here somewhere half way through: https://goldbulliondevelopmentcorp.com/html-pages/downloads/MD&AAudited_6a6e8.pdf This dates from June 2010 and I don’t know if technical changes to this have been made since. Normally not, because the points in that report are merely conditions and the details of the actual program will be made public after the first 43-101.
Teatimenow: "if gbb gets into production and really distributes physical to it`s shareholders, this is a hack of deal right now."
That’s very true. And I don’t think we should doubt GBB getting into production, because it will, or that they will go through with the Gold Purchase Program, because Roger and the CEO both confirmed it. The only thing I’m not really sure of is, what would keep an acquiring company from just installing such a program themselves, besides maybe extravagant profit seeking? Wouldn’t such a possibility render using this program as a poison pill less effective than intended? Perhaps someone else can give more insight on this.
One other thing, I wish management would emphasize this program more often, because when you want to use it as a poisoin pill then it shouldn't be something one finds only after digging through lots of data or asking managament directly. But I believe they'll talk about it more after the first 43-101, when it really starts to matter.
Burrito