RE:RE:RE:RE:RE:RE:RE:RE:Taylor Dart on Seeking Alpha The company is nowhere near a resource estimate, and is still at an early exploration stage. Valuations amount to an intellectual exercise at this point, with not enough results to provide accuracy, and most of the drilling remains to be done.
At the MIF on Friday, Chris Taylor said the first job is to find the "edges." They have found five zone of high mineralisation, there are dozens of targets defined by magnetics and geo chem that have yet to be drilled. Then the defined zones have to be filled in. The blue sky thinking on this one is fun, and while estimates are all over the place nothing is off the table until exploration has reached the resource estimate stage. Chris Taylor is not interested in any kind of undervaluation scenario, and has repeatedly pointed out that a premature resource estimate will not be happening and there is a long way to go.
The stock price has been ahead of drilling results from time to time, but most of the time has been behind the drill results as the market has been absorbing a lot of warrants. The share structure remains tight, the company is funded for drilling for another year, and two more rigs are coming online. Valuing the whole company right now involves far too much guess work.