RE:RE:RE:This company rob926 wrote: thorghb1 2 questions. 1st do you think we will have enough holes by then to get a better picture of Timok high ande low grade and 2nd what do you think a realistic take out price might be?
Sorry Rob, I missed this question a couple of weeks back:
1. Yes. I think the high grade is well defined at this point. It is definitely an exciting project for small and mid tier players, but the 10-15 year mine life doesn't turn the majors on, even at the grades we are seeing at Timok. The real prize is the porphyry, which looks like 50+ years mine life and is open in multiple directions. I think FCX has a pretty good theoretical understanding of the geology at this point, and that is why they were keen on retaining a percentage. This was likely shared with Lundin when they made their play for the asset, and I'd have to think the 10 drills currently turning are mainly focussed on defining the porphyry.
2. I would guess 8-10 bucks, but that is just a guess. I actually thought we would be 5-6 bucks by the end of 2016, but this stock just can't seem to put together a run and breakout a bit, even with copper and zinc hitting recent highs. Seems to be an invisible wall at 4.50 that appears anytime the stock looks like it wants to go. I'm still holding most of what we got from the acquisition (sold 60K in the last few months) and I like the prospects and assets here, but just don't get the trading pattern.