eodway wrote: I wonder if Miley Cyrus has a crush on me?
After all he adds nothing of value to the board and won't comment on any of the positive recent developments such as doubling the resource, uplisting to the TSX and being one of only a handful of companies that can raising over $9M in a very hard market.
As CashIsKing posted a few days ago there are only a 200-300K shares for sale between this price and $1.80 and large orders of 500K+ shares on the buy side.
We have 2 more weeks until JL's options are worthless. We have drill results and the long awaited PEA, both are due any day now. I for one hope there will be NO NEWS until after those options expire but who knows what will happen. With JDS being backed up I expect the PEA to come out after the options expire. No telling if the PEA will come out this month or in January.
Looking at the level 2 the and the Charts it seems like the SP is looking for an excuse to take off and I think the SP could go to the $2-3+ range after the PEA. Even if the SP only goes to around $1.5 that will put an additional $20M in the treasury. With the last raise that will be about $30M to complete the PFS/FS and a large drill program. The PFS/FS will cost about $10M. That leaves us with $20M for infill drilling and exploration.
If the SP goes up to $2 I would do another raise for an additional $20M. At $2 a share that would only be around 10M more shares to the share count and that would but us in the 150M ish FD. That would let us do a huge drill program and still have $20M in the kitty.
With $20M for drilling at $450/ meter (that is much higher than than the cost to drill but that price allows for additional costs associated with a large program) we should be able to drill 45K meters. There are also about 30K meters of drill core that was not assayed and I think it would be a good cheap way to add M&I tonnage for a dime on the dollar.
My question to board is how much of that should be used for infill drilling to support the PFS and how much should be used to prove Wellgreen is a district play. Now remember that only M&I can be used in the PFS and also remember that the anomaly that makes up Wellgreen extends to the easy for an additional 2 KM (Quill target) and also don't forget that we have drill targets identified at an anomaly 7 KM to the east that seen historical shallow drilling that turned up mineralized (Burwash target).
I think a proper ratio would be something like 30-35K meters for infill drilling and 10-15K along the Quill area and the Burwash area. What do you think???
Wit money in the bank I think drilling can start around May and continue until October ish. The updated resource estimate with an additional 45K meters from my SWAG of drilling in 2015 plus 30K meters of assaying previously drilled core (2015), plus 11K meters of assaying previously assayed core (2014) and 3K meters of drilling from 2014. That totals around 89K meters of drilling that could be included into the next resource estimate!! I would say that the resource estimate would be out in Q1 2016. I think the PFS/FS would be out in Q3 2016. At that point a buyout couldn't be far off. I would say there is a 80-90% probability of seeing a buyout in 2016-2017.
What are your thoughts?
And lets not forget about the Troll.
Come on Miley Cyrus say something so the board can Laugh AT You!!