Spoke with PRlast week. Nothing new--they said they're still dickering on financing to get the best deal for investors, (i.e. Berukoff et. al.). As has been said before, its a 2 edged sword having a well heeled principal owning a third of the company--he has the time and means to wait which requires patience from the rest of us, but should result to our good, since all shareholders interests should pretty much allign.
As far as future stock pricing goes, I guess Jumpy's guess is as good as any.
352,931 oz. gold production at average grade of 11.31 g/t gold is a very high grade. The big money question is whether they can maintain and extend that production, which from all I've studied, it seems like they can. It will need to be confirmed by mining exploration. A few notes from the MA (Mining Associates) 2014 technical report:
Systematic channel sampling was carried out.
. The maximum value was found to be 0.6 m at
840 g/t Au for a vertical sample taken from H-Lode. In total 32 samples were found to exceed
100 g/t Au.
. The main lode structures identified by TGM comprise 10 lodes in the Upper Ridges area, 2 lodes in the Murau area, 3 lodes in the West (Plant Site) area, 2 lodes in the Tuvatu area and 3 lodes in the SKL area. Lodes were re-interpreted by Lion One geologists following infill and resource extension
In addition a number of other lodes have been identified in the local area but remain untested.
High grades may be encountered in lodes, e.g. 0.5m @ 1620 g/t & 0.3m @ 1130 g/t Au
MA concludes the geological model is quite robust. The mineralization is typical of epithermal
deposits in being confined to narrow structures with little wall rock alteration which are hence
“blind. MA believes the exploration risk to be low due to the historical
identification of mineralization and decline development. (It seems very doubtful to me that just this one area of the volcanoe has this super high grade)
Because of the 'blind' nature of the veins,(a drill could be half meter from high grade and not know it was there), exploration will need tob be done from the declines and following veining when mining.
With all of the potential for exploration--along strike, laterally, at depth, and the numerous other targets on the property, Jumpy's 3 year target of $1.50 could be way low.
(Now if they could just get to digging)