RE: 25% down one session: Never seen this I have made it quite clear that I have been essentially "all in" for quite a while. I have not really traded GL / RI much since it became apparent that La Fortuna was a real property. I liked La Fortuna - I still like La Fortuna - as far the geology goes. I also very much like the projects that have been vended into the company with the acquisition fo Reliance. I have had to sell a little here and there, but have also bought some back (the .23 and .27 purchases).
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When I spoke about trading in and out, I was referring to what I have done historically with GL. This is NOT the first time I have posted this - as the projects have come and gone over many years, I have changed the magnitude of my holdings, depending on what I thought of each project. The last 2 (La Fortuna and Indonesia) I very much like, so my holding have been fairly large, previously some of the projects were not as appealing.
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I have not tried to hide the fact that my last purchases were at levels I expected to be good buy-in points and I still do, but I didn't expect them to also be 50% to 75% higher than what came after them. Again, I have made it very clear I did not expect these levels, I do not like these levels and I do NOT believe there is a good excuse for these levels.
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I do not have a problem with the results that have been achieved either. The original intent of the phase 1 drilling was changed, as they further evaluated the nature of the historical drilling, and as a result the increase of the 43-101 compliant resource was smaller than anticipated; however, the information garnered was good, the potential of the property improved and the phase program is now designed to increase resources more than phase 1 was.
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Salut,
Leigh McBain