RE:RE:RE:RE:RE:RE:RE:3 cents to a new 52 week low...told yaExcellent analysis. Indeed reading the old GBG resource #s at 1oz/ton seemed too good for the property.
How many GEOs do you estimate remain at Gloria Zone?
Are you saying when Huet & Co. bought Hollister they actually believed there was more gold than there is at Gloria?
goldminer01 wrote: To be fair, there was a problem with the resource at TN. It was done by Peter George.
Look it up. So all they had was the Cohiba and new 710/711 zones which they are mining.
But there was not enough definition drilling there, so yeah, it had to be done first.
Unfortunately they beleived they needed to do the same thing at Hollister. The reason was even though the drilling results looked great (and huge in cases like the Blanket zone), the modeling for the resource statements went back to South Africa H.Q. and "not so conservative" numbers were the result. The reason being they needed cash like crazy to fund S.A. mine operations due to technical problems so they had to show large and valuable resource even tohugh they claimed it was conservative.
I never believed Great Basin 1M ounces at 1 oz. or earlier 1.5M ozs. Too good to be true.
So Huet dismissed all this stuff even though he know there is some leftover remnant ore areas that they will latter purse, but the easist stuff to work first is the Gloria and soon Hatter Graben.
Now investors were deceived (old GBC and now new Klondex). That came out when they released Gloria and showed basically nothing for the main 2 historic mined veins that represented the GBC resource. So this area may really have been mostly mined out. Makes sense, since when Hollister acqusiition was first announced and more info came out Klondex never mentioned any resource did they ? They pushed out the 2008 HG and 2013 Gloria drill historic results instead and mentioned early production would come from these areas. That meant drilling delays. I, and most everyone else, were deceived as to the lift Hollister was to
make to 2017 production and as to the resource. We will have a better idea of the resource
in Q1 but as of today HG is not known -- and HG is Hollister. So that is why the SP carries little
value for Hollister.