RE: RE: RE: RE: Crying Wolf! "25 to 50 is a double.40 to 80 is a double.Its about the return.The value of GSR 3 years hence is not what we are interested in. Its next year.GSRs float is peanuts. Drilling is not cheap in the north. Add 10 million with warrants and you got yourself a descent drilling program in 2013. They will need it. So dilution will not be an issue. But to us the issue is a guaranteed return on investment."
What is there to suggest that you will even be able to participate?
GSR can very well undertake a two tier placement. In the first phase, lower cost and more shallow drills based upon much better information that will require minimal amounts to implement. In the second phase, either more extensive and or deeper drilling under more favorable PP terms (ie: higher stock price).
What I think you (or all of you given the use of WE in your posts) need to understand is that GSR "does not" have to spend 10's of millions next season. In addition, GSR does not need to do everything next season either. Truth be told, they have years to systematicly explore the properties and once a discovery is made, systematicly define that resource. With results pending on the geophysical surveys, all of us will arrive at a better understanding of both the potential and what exactly will be best for the 2013 work season. If it can be demonstrated that there are promising images/zones near surface, than deeper and or more expensive drilling may not be required in 2013.
To close, I extend the best of luck. My thinking, however, is that until GSR determines a 2013 work program, then PP needs will not be known. With multiple drill ready targets and a geophysical survey pending to potentially back up those targets, then the GSR story is apt to grow new legs. In the meantime, GSR will not pursue a PP until such time all exploration in 2012 has been completed NOR will GSR dilute the float anymore than needed to finance a 2013 work program with no resource discovered to date. Like before, GSR will undertake the most cost effective program that also hosts the greatest bang for the buck. That's why some like yourself want in on a PP and why some like myself want in at the lowest cost average possible.