RE: RE: RE: A Fun Time for TRA shareholders Hi Kaffish40:
Personally, I would be very disappointed with $4 bucks as that would imply about a 4million oz Au deposit at roughly $100/oz in the ground....
I would hope we prove up at least 3my oz with this round of vertical rotary drilling. I am thinking they will have to do another financing after this next reserve report is done to raise money for a diamond drilling campaign focussed solely on proving up the geometry and grade of the high grade veins...As you might find from a previous post I made, one 15 ft wide vein, 500 ft long by 300 ft deep could potentially yield about 6my oz using about a .2oz per ton mean grade.
If you look at the consolidated goldfields website, there are multiple high grade vein intersections leading me to believe this could be a 10-20my oz deposit if they can be proved up by the diamond drilling phase of the evaluation.
In short, while I do like the current share appreciation a lot, I think there is plenty of room for further upside given positive results from the vein evaluation. This is not out of the question as the Mesquite Mine in the area has 8my oz.
I think we have a home run here.....