RE: RE: ceo sounds confident curvature, you must be talking about my oremex days!. You are correct, unless you can get it out of the ground it does not mean anything. Can you tell me why you think they can not get it out of the ground? Do they have to complete a PEA before you believe them? Are you aware that some parts of their flagship property are amenable to open pit mining? Lets then discuss the widths of the veins which is a key factor in determining the possibilities of an underground mine which are 2.5-5 meters. Conceptually this can support an underground mine.
Why did the company get two takeover bids one from Endeavour Silver if their geologists didn't think they could get it out of the ground?
You are aware that Pinetree capital has a team of geologists who have scoured Cream's property and in the past 3 months sheldon interwash put a quarter of a million dollars in this company.
Now there is a lot of conjecture on my part but that being said, many investors may not be around when they actually try to get it out of the ground but given that the in-situ valuation for explorers is 5% of the asset in the ground there is big upside here. The cut off grades of 150 g/t were based on lower gold and silver prices, they could drop this to 100 g/t and include 1/3 of the exploration drilling in the next resource estimate and produce a 100,000,000 silver equivalent resource right now with more to come with 40,000,000 meters of drilling over the next 2 years.
Based on 220 million shares outstanding and a $30 spot price for 100 million ounces of silver equivalent, this can trade anywhere from 39-54cents per share.
BTW Good to see you are in Bannerman, I like them too, great way to play the eventual upswing in uranium prices.