RE: GIL update ..........!
"I believe with further drilling over the next couple of months, the 20MM tonnage estimate below will look more and more likely to investors that it is a reality. We feel quite confident from the data we lay out in the report that these numbers will prove valid(if not conservative) as ZEN proves out a 43-101 resource later this year." cbs1231.
No doubts here that 20 MT’s would be a good base case to start, a minimum and most conservative approach. SP at $43 on 57m o/s shares is questionable as float will grow to finance the operations by production.
That said, my own work on tonnage suggests, even just infill without any expansion, between 4F1 to 4F3 then east over the 450M to 4F5 to 4F9 can yield 60MT’s. If we keep getting hits like the 370m on the last hole most recently reported, it won’t be long before you see some major shareprice appreciation.
Cheers, Mark