Sage4040...... There are a couple things in play here.....
the full potential/size of the resource, and its quality, which will be deterimined through further drilling.
the price of gold.
the higher the price of gold the higher the potential profit whether from a sale or from an active mining project.
IMO the present gold price and 857K ounces is an attractive situation. It is large enough to draw interest but maybe not quite not large enough to mine. If with further drilling they can expand the resource to 1.5 million plus ounces, that would likely attract a partner willing to develop the property. And Kensington is just down the road.
Looking down the road, should the price of gold rise into the 3k-5K range, a sale of the property with royalty might be more attractive to the owners.
Yes Sprott is a major shareholder and probably with an expectation there is a good chance of significantly increasing the resource.
While the pr hi lighted a wider vein, several veins were narrower than in the past, while the Ridge Structure showed 2 nice high quality veins and a Deep Trench vein quite close to the surface....Thats low cost gold.
| 20U-1 | 59.82 | 61.30 | 1.48 | 29.210 | Ridge structure |
| 20U-4 | 107.45 | 108.85 | 1.40 | 16.530 | Ridge structure |
| 20H-3 | 99.88 | 104.38 | 4.50 | 11.773 | Deep Trench |