MANY OF GOLDBUG'S POSTS ARE GONE FROM PAST 24 H Except for a few...
I was going to write back to the one asking WHERE ARE YOU JINNY BOY? Busy!
Oh well read that one a couple of hours ago, and now that one post is gone.
Goldbug437, what happened to 95 % of your posts?
Also, my ACB is very, very low so no I am not concerned for a 25 % drop, and just add more on temporary weakness.
I like what Smokinwillie just wrote about free cash flow at Detour.
I actually think the "next Swan" will be around WM area on Detour's 1000 sq. km. land package.
What KL got out of Fosterville is frankly a miracle as this mine was originally sold to Crocodile Gold for $ 105 M USD...lol. Crocodile Gold also got Stawell included. Two mines for $ 105 M USD.
Aurico inherited Fosterville from Northgate Minerals when it was acquired. Go back to years 2011-2012.
So Fosterville sold to Crocodile Gold for $ 105 M along with Stawell...then KL had it as multi-billion $ mine post Newmarket.
Yes the highest grade ore in the world was unknown at the time, but this one mine became valued at around $ 5.5 B - $ 6.0 B USD when KL was in the mid $ 60s CAD.
Let's just say KL IS STILL having an amazing run with Fosterville and the numerous owners this mine has had were not so fortunate.
To Fosterville's credit, the size of the land package means that another Swan Zone needs to be found, but if you listen carefully to Eric Sprott today...he sounded bad due to a terrible cold Goldbug437, he says that Harrier has similar components to Swan, but they need to EXPEDITE and get the drill results moving asap as there have been delays all throughout 2019.
Maybe they do find another Swan Zone @ Fosterville, if not, don't be surprised if some very interesting geology pops up on Detour's massive land package. All paid for in pricey shares.
The market wants to see forward and then it establishes a trading price. Anyone would be a fool if they expected KL to replace 31 g/ton PURE RESERVES in their Resource Statement two days ago.
You just don't replace Swan style ore. Not happening.
This is one of a kind geology in the world. Be happy KL had this and still has enough for three years.
With gold now $ 1643 closing, the extra margin will magnify the earnings on the Detour side to a crazy degree. You will see....and who knows, maybe another Swan still gets found @ Fosterville in 2020. If they want strong geology, WM can be next, and OSK.
I would still pick up Pure Gold in CASH at around $ 1.00 CAD including premium, as I have been saying for ages. Maybe now Board would need to pay $ 1.20 CAD including premium.
JIN