Great Bear Resources Ltd. GTBDF

RE:RE:RE:RE:RE:Takeover Thoughts

[Ivorygull]

I agree Canuck11. Yes they do need to get the 4.5km as best estimated as possible, as they have outlined. You do have a very good point about how many drills they will be able to get to use due to Covid, but I hope they can use a lot of that $33M now in 2020 and early 2021, to at least show there is gold occuring in all the other areas.

For sure they will not have time to do what they are delineating on the 4.5km target, in these additional areas, but to do what they have always been doing, stepping out to at least show there is gold there. If we don't, we could lose out on any gold for example at the Blobs, or along the North Fault etc etc.

It would be great to stretch that $33M all the way to 2022, and that has been one of the great things about GBR, how they use their dollars for our advantage and how they keep the share structure tight, but I think times are a changin' and we need to use all that money now to show as best we can, what there is and what there could be. 

Chris and the team are doing a fantastic job, I'm not complaing in that regard, I just think it will be difficult though to keep ones head straight and focused on definition drilling, and having to deal with a hostile bid all at the same time. Thats why I'm suggesting more drilling now.

Canuck11 wrote: Agreed. Great to consider the possibilities, but let's not get ahead of ourselves. I found the comment during the webinar about funding available to carry drilling through 2021 at odds with what I considered the new $33M raise was going to be used for, namely, accelerating the drilling campaign in 2020. But after listening to what the management team reinforced, I support their intention to systematically infill to whatever distance between holes is necessary. The virus has placed logistical controls over the rate of drilling and it will likely ramp up, but I believe it prudent to prove out the 4.5 km section as layed out by the team. Let the drill bit speak by applying the intended methodology to generate a "surfaccee" resource estimate at the LP. We all recognize the enormity of the beast and no matter how many more drills are added, it will still take years to prove it up, particularly the great unknown, that which lies at depth.