RE: The paint has finally dried... Yes, that was a long nap, I almost fell out of my rocker a few times. Not just great results and at depth (AGAIN) but also with very broad intercepts at very good grades. Equally important is the fact that they stated a plan that makes things fall into place. Everyone knows they need 5mil oz for an acquisition at a good price. They have said they have the results in hand now to update the resource sooner than expected. One would assume they are not planning to update the resource estimate without the magic 5 or more. Based on their track record of about 100,000 oz per each 1000 meters of drilling and the previous statement that the barges would be going after a lot of low hanging fruit, one would guess they can prove a lot more. Also helping is that now alongside Quinton with his expertise in exploration is a very seasoned geologist whose experience lies in taking things to production. His knowhow and stature should no doubt be helpful in proving the maximum number of oz for the resource. Having sought-after people with the capabilities to take it to production and the closely held share structure (by people who have and know how to raise capital) also says to the majors "Hey, if you want us, pay a premium or we won't hesitate to take it to production and extract the value for our shareholders and not yours." In that way we are, IMHO, not likely to see this go for a bargain like TRR even if the market takes awhile to heal. And speaking of the market, a hearty thank-you to the "stalking horses" who pushed the price of gold past a key resistance level at $1635 today. Look at the volume: We do seem done with watching paint dry.
All the the humble of opinions of one greater fool, so do your own DD.