RE:When
Yoda1955 wrote: I first started working in mining investment banking, in the mid 80s, I was taught by a crotchedy, old mining analyst that for underground mining you needed the ore to have at least 10 gm/tonne gold over 2m, ie 20 gmxm (thickness x grade) to be economic and that was in a sub-$300/oz gold environment.
Now with gold at +$1700/oz gold you have to believe 19 gm/tonne gold over 2m or 180 gmxm is really economic.
The benign market reaction to today's news release just goes show how little understanding there is wrt gold mining economics. This is a "NEW" discovery or at least an extension of the known Dixie Hinge/Limb zone.
Just goes to show that all the old, crotchedy gold analysts have been laid to rest to be replaced by kids (children) that can't get beyond espousing tech, tech, tech.
Yoda
I think that we, as share holders, stare too much at share price on day-to-day basis and thus lose focus of the one thing we all think/say is the core of GBR: The size and the potential.
It is easy to get lost in "oh, look, 10 cents up/down!" movements in the stock, when we should really pay attention to more important things. Among those things are size, funding, new discoveries, new private placements, uncharted areas, leadership. We got top notch scores on all of those things.
The rest will sort itself out over time.
I really struggle not to play the daily charts, but yesterday I could not steer clear and had to do a trade. I made a small profit from that trade, but at the same time I risked some. I really cannot compliment myself on my accomplishment looking back at it. I can just as well keep the stocks I got, turn off the computer, and log back on in 6 months time. LP fault will not make anyone of us poor, that I am darn sure of by now. Darn sure.
If anyone wonders why share price does not go up more, have a look at Youtube. Even the best interviews with Chris has less than a thousand views (perhaps I have missed the odd one, but you get what I am saying). GBR is still only known to a very select audience, and I doubt there will be much of a real "buzz" before gold reaches $1900/oz. Until then I think that the general retail buyers, who are the ones driving stock prices up, will not even reflect on buying stocks in a hole-in-the-ground. Bad for them, but good for the ones smart enough to get in now.
Chris also mentions this - complaints about GBR being to expensive - in one of the recent interviews, when asked about it. Private Placements put this one out just a few hours ago: https://www.youtube.com/watch?v=BWSEavm4g0g
Chris here tells that GBR has always been said, by some, to be "too expensive", even when trading at 50 cents a share. Laughable, really, but hindsight is a wondeful thing.
Now we got a 5 km hit zone, 11 km fault zone, only drilled to 500 meters depth so far, several high grade hits outside of LP, claims that has not been touched yet, fully funded through 2021, maden resource coming sometime next year, great staff, great board of directors, more drill rigs incoming, and are valued at a rough estmate $680 M cad. I find that laughable.
If I had more money to sink into GBR, I'd do it but I am already about 75% in and I will never ever again go all in since getting burned pretty bad by doing that due to Wuhan virus. However, I am back in black now, and then some. All thanks to GBR. I could even say that Wuhan virus made me look back to my youth and the keen interest I had in geology back then, not to mention all those prospecting trips I made in my twenties with a good buddy of mine. We never found anything of value, but we had loads of fun and I cherish those memories having pushed past 50 by now.
I firmly believe in GBR. This will be what makes me able to retire early.
(If not, it is a good thing I like my current job...!)