GREY:RDEMF - Post by User
Comment by
wiseyoungmanon Jun 14, 2017 1:38pm
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Post# 26362308
RE:Vetas
RE:VetasI scanned through the 43-101. I am not concerned the report says there is no resource estimate since the original filing by CB Gold was based on an open pit model which is not valid now. Red Eagle has long stated that exploration infill drilling needs to be completed and is based on a new underground mining model. I am not a geologist, however I can using common sense understand why this 43-101 indicates what it does. It is an early stage 43-101 which needed to be filed since the original filing is stale dated.
Red Eagle Exploration projects (3) have enormous potential but it will take time and money to build out the resources. There will be a lot of dillution going forward however as long as Red Eagle Mining controls greater than 50%, it will be accretive in the future. The drilling for 2017 is very late since the private placement is not done to fund exploration of the 3 projects. Not much interest from the investment community at this point. This likely will take a fair amount of time. GLTA