RE:Thoughts on valuationI like your points on valuation and you are being very conservitive. I would suggest that they could probably prove 3m ounces with what they have drilled so far but that zone will be in my opinion over 5m and ?? Also Kaminuk's 173 per ounce in ground reflects the roads and power etc needed to get to it. Our Shovelose gold in ground would be have to be at least 200 per ounce and more. A rough calculation is 5m times 200 = 1b. With a float of 100m shares that would be 10.00 per share and up. They just posted a flyover program at Skoonka which suggests to me they liked what they saw at Shovelnose and can see where the mineralization is there and can use that info at Skoonka.
Lets face it Skoonka had a fantastic hole and they haven't been able to get back to it because of all the Shovelnose excitment. I know early investors including myself are holding tight to our postions and even adding to it at these levels because the upside is just so huge 10.00 to 20.00 within a year is not unrealilstic and thats at todays gold prices.
The drilling program underway looks like they will start in the middle and work outwards expanding the zone rather than prove the continuity ot it. The probability of that is so high it can be done later. Peter Fischl has been hitting this out of the park and is just getting warmed up. We are so fortunate to have him leading the way to our riches.
There is a lot of attention and connivery to get our shares so beware. It stands to reason that the longer we hold the higher the price goes.
Cheers with the good stuff W