RE:RE:RE:Just a touch No hul they have enough cash on hand to get them through to 2015. As a previous poster mentioned they could be taking longer then expected due to a deeper drill near the core of Tesorito. Right now the market is weak for explorers without high grade vein deposits which is effecting companies that are trying to develop open pit low grade gold. Seafield is one of these even with above average grades. For an explorer to really be looked at they need to have enough oz in the ground with low enough production cost to grab attention.
June looks like it was the bottom month for the mining industry and has since reverted its trend. Most mining stocks have went up by 50 to 100% like Aurcana and charts are showing we have most likely started a cycle up. This means that companies like Seafield that were able to hang on and have above average grades in the ground should begin to rise soon as the sector heals. Many explorers were pushed out or had to shut down due to being unable to be financed, Seafield isnt one of them and shareholders might in the near future see a bid by Batero to aquire atleast a portion of seafield through shares.
If this next drill result shows strong g/t ratio's it will be the step out hole many have been waiting for making Seafield more desirable for a take over by companies like Batero. With a grade of 1 g/t at the edge of this anomaly and the next result drilling near the core its very possible with a double in g/t grade with a deep drill over 400 we could see this stock begin to gain traction.
Timing is important also, June and July are the bottom months for Precious metals so for the stock to see a trend up it needs to be timed with a rebounding market which is what we are starting to see now. Usually this doesnt begin until around mid August but with the market so beaten down many believe the trend has already reverted up into a new cycle. This means explorers that were able to survive the past 2 years and have good grades, management and potential finds like Seafield will begin to rise quickly. However in order for companies such as Seafield to get the investment capital needed to hit production Gold prices will need to bounce back up to atleast 1600 over the next 6 months to a year inorder to turn enough profits for majors to start looking at buying up undervalued companies, something Batero is already doing while prices remain at 30 year lows.
So here are the facts, Batero is looking at buying undervalued explorers near production with proven grades and oz in the ground, Seafield just happens to be up the street from their property go figure. Add to this the next drill result to be released anytime now at Tesorito which most likely will have very impressive grades to say the least. Can you feel the breeze yet? Seafields sailboat is about to catch wind and this time it wont be hot air from investors like myself.