GREY:RNKLF - Post by User
Post by
dacreon Oct 10, 2018 5:19pm
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Post# 28776638
Patience???
Patience???Not sure I have enough patience as I'm starting to waver/wonder. The last two nrs really haven't said much. I think they'd be better to wait until there is some significant material news. Basically, they've cut a slab of rock which they are going to cut into smaller pieces and sell to collectors. It's hard to evaluate this "hobby/gem shop model" for lack of better terms...when as a Mine/exploration investor, you rely on intersection widths, grades, strike lengths, resources, etc.
They have now given length extensions (540 m) to the sedimentary structure that hosts the Father Day Vein but they have yet to give any actual extensions for the Father's Day Vein itsel (from today's nr: "....extended the known sediment structures by a total of 540 metres from the Father's Day Vein structure..."
For the life of me I don't understand why they're not drilling off the actual vein itself. As I said before, they keep referring to the sediments that host the Vein...Well, if they were drilling off the Vein, then they could report strike extensions of the Vein, grades, etc....
Anyway, the production update next week will probably just confirm the 30-35 k ounces in this area that has been worked for the last several weeks. What we as investors need to know is if this bonanza grade zone is localized or does it actually extend?
Still hanging in there as Level II shows strong support at 0.70 so I think the downside is limited for the near term.
Take care.