RE:RE:RE:RE:RE:Must Read Ceasers ReportI'm not sure that we will find any monsters but don't think we need to. If I'm not mistaken CT said that Red Lake is comprised of something 91 deposits/mines so they must be of varying sizes but not necessarily monsters, although some of those probably are.
Think what we are looking to prove up is a " string of pearls " theory ( my theory on their theory anyway ) the theory being that the LP fault is the corridor that allowed gold bearing solutions to come to surface and then were in effect , soaked up like a sponge in the tuff unit.
It would be nice to think that the entire LP fault is going to have a gold bearing sponge along all 18 KM's and going down by 14 KM's but that might be asking too much. Think it's more likely that we'll find individual sponges dotted along the 18 K's and so I'm thinking we will continue to move along that fault looking for more sponges rather than focusing all our energy on one area trying to prove up OZ.'s
Going back to the Newmont buyout of Fronteer for a moment, as mentioned Newmont paid
$ 2.3 billion and at the time Fronteer only had 4 Million OZ. in various categories ( not 100 % proven ) so they paid $ 575 an OZ. which is astronomical so obviously they believed they would find a lot more gold along the trend that Fronteer controlled. Like maybe 10 Million OZ. in which case the $ 2.3 billion would make sense.
So that's why, in my humble opinion, we aren't particularly interested in defining OZ at this point but are focused on finding as many pearls as possible.
Think once we do that and regardless of how many OZ.'s each pearl contains it will become painfully obvious to Newmont and others that we do indeed control an entire trend and it's only a matter of time before we start tallying up those OZ.'s making the stock worth far more than they will be willing or able to pay. Of course we could always do a merger of equals but I suspect they'll want to move before that happens.
We've only just scratched the surface of 2.5 KM's of this trend and have found 3 or maybe 4 pearls already: The DL, DH , DNE and now the BR Zone and we could have plenty more just in this tiny area.
This is like the Tortoise and the Hare, we know Newmont is going to catch us eventually we just have to cover as much ground as possible before they do !
Think we better get some more drills !
touareg wrote: thank you loon (and goa for the link) .. yes I also learned a lot more than I had already realised from that report.. sort of like in my mind I already had a sense of a seriously large monster but i note they used the word "confirmed" quite a few times in relation to the whole fault and the whole zone.. it seems very possible this could be in fact be a collection of several monsters.. quite possibly more than the Red Lake mine which has produced over 50 million ounces... jeez am I hangng onto my shares..
gotta just love that they don't need to finance for at least another 12 to 18 months even with 3 drills on the go 12 months a year. I am also very glad we have CT at the helm because he has alreay stated they wont be interested in any buyout offers before they really have a good idea just how much AU they have in there.