Just how much is a 1.15 million oz deposit worth these days?According to my Chrystal ball, and back of envelope numbers, I have us now pegged at 1.15 million ounces indicated and inferred at grades averaging better than 12gpt. I look for decent increases upon this number as we drill remaining Eastern extents. The real kicker will be the deep drilling beneath some of the high grade large intervals on the main, deep trench and goat veins. Ounces pile up very rapidly with these grades and intervals.
This project is what I consider a low hanging fruit deposit......very high grade and easy to get at. With AISC costs most likely well below 500 per ounce, this deposit is certainly worth much more than 25 million (Canadian at that). Hell, I could put a dent in that number with a pick, shovel and wheelbarrow inside of a few months.
Tarsands, Flash, I've tried using the technical analysis on these mining stocks over the years and they have always let me down. Usually buying at wrong time, and selling at wrong. Best rule to follow is to know what you have and what it will eventually be worth. Let the market catch up to you......it always does eventually.
We should have a modest pull back coming up. Hope you both can re-enter at a decent price.
Best
S