RE:RE:RE:RE:RE:That's the way it goes!tadjames1 wrote: Thanks Rational ! I think I mentioned that my background is oil and gas so I don't quite understand the size scale of what they have. Any gut feel on what someone would pay for the project? I've had shares for along time after they split up Josemaria and in the last month bought 25000 more shares at 2.50 and then again at 3.25. My TFSA was very happy today !!
@tadjames1: I am the opposite in that my background is mining. It's not like oil and gas where you can do a draw-down test to estimate the value of a single well. In the mineral industry you need to drill a lot to determine size and grade of a target. This drill hole completely changed the dynamic of the project, however, it is still only one hole. The potential size of these types of mineralised systems could be large. Hypothetically let's say they've got a 50 metre radius of mineralisation around an 858 metre intercept; that means at density of 2.9 you are looking at 20M tonnes of 1.8% CuEQ. This is all conjecture at the moment but one thing is certain: today's news has blown project potential wide-open.