RE:TheMerlion/Testfreak and a questionGLTA99 wrote: 2- TheMerlion a) You said many other companies with the same low grade gold do have a better potential. Why don't you complete your statements by giving examples. This could then be challenged by others. 3- Newbie question: Why isn't EGX focussing on the Enma area if there seems to be high grade gold? I understand that the gold distribution could be erratic, but could it be enough to completely avoid drilling? 4- They said in their Powerpoint that the PEA would be released Q4 2013. Normally, we will all agree on the fact that they do exactly what they say, but they didn't this time. We should sadly keep that in mind. 5- When do you thnink we should expect an updated forecast on what's coming overall in 2014 other than the PEA? (ie : New drilling calendar) 6- Sadly and generally, I often read here people saying things like a) "Ah, he's mad because he couldn't buy at $0,05" b) "He sold too early and now he comes bashing hoping to get stocks back" c) Any other useless comments like this It would be nice to have a polite conversation by avoiding speculations toward people's stock transactions, because it becomes really boring to read. If you don't have anything intelligent to share, keep your comment for yourself!
1 - Other stocks but not recommendations and all should conduct DD:
Firstly, the most risky play there has ever been is a multibagger or could go bust on Monday.
a, Touchstone Gold (TCH) currently available at $0.015 have shallow high grades in Columbia (Segovia Gold Belt) headed by Mr Buchan the founder of Kinross. They are in serious need of cash but should it come it will be a multibagger.
b, An early stage play which is Precipitate Gold (PRG) currently available at $0.105 headed by Mr Fleming a proven gold man which assets in Mexico, Dominican Replublic, BC and Yukon. Their DR areas is surrounded by majors and is thought as of the next new gold province which is validated by the results of the majors around them. Early stages but results to date are very positive, not only for DR but other areas too.
c, Exeter Resources currently available at $0.59 is a prime example of low grade deposit but shallow allowing for large tonnage open pit operation at Caspiche, Chile which is surrounded by producing majors. Massive resource of P&P AG of 19.3Moz and P&P CU of 4.6Blbs.
I will leave the other companies alone for now but there is many more but I am limited for time today.
2, Newbie question regarding Enma:
I know the assets but I was not aware that EGX planned to mine Enma first via open pit until a poster here mentioned it yesterday. As you indicate, it is strange that EGX is not placing more focused drilling on Enma if it is going to be the first production area as the poster here claimed.
I know about historical exploration in this area and it has been described as an area with "erratic gold distribution" therefore it would make perfect sense to conduct more drilling here before concluding that is to be the first production area.
All indications suggest Enma is a small area of mineralisation and results to date do not warrant this to be the first production area in my opinion.
3, The PEA date:
You are correct, the PEA was due by the end of 2013 and this date is still displayed on the website on the Condor page under 2013 Exploration stating "The company is planning to complete Preliminary Economic Assessment BEFORE the end of the year".
https://ecuadorgoldandcopper.com/project/condor/
4, Other news ie - Drilling calender:
Drilling is taking place right now, a proposed 3,000mtrs around the Santa Barbara area (NOTE: NOTE THE ENMA AREA). I should think that this should soon be concluded and results will be announced soon as it started on November 5th 2013.
https://ecuadorgoldandcopper.com/_resources/news/nr_2013_11_05.pdf
Going forward the PEA will show the economics of the existing resource and hopefully include the latest drill results. The PEA will also suggest a way forward in terms of further exploration. I personally think that the forthcoming PEA will bring a lot of PUMPERS back to earth if they understand it fully.
5, The PUMPERS classics:
Totally agree, the PUMPERS are very easy to spot. They constantly spout nonsense with no explanation and reasoning way. We have heard a lot of it here like $0.50 by May 2014, $0.20 this month, our CEO has made billion dollar companies and the most undervalued stock on the TSX etc etc.......the list goes on and on.
We have many here, TESTFREAK, COCAINE, SHIPITINDUSTRIES to name a few but when they are challenged with questions to provide a reason for their opinion they all come back with the same abuse and that if you do not agree you are a basher. None of them have answered any of the questions put to them as you correctly observe and this will comtinue because they simply do not know anything about the industry and are investing blindly.
They are clueless and as you have seen they continue to demonstrate their clueless ignorance on a daily basis.
There, I hope this reply satifies your requirement.