RE:RE:Normand buying in the open marketMore buyers will come to the plate when the share price becomes a little more attractive. The plate is not nearly full enough. But this is no ordinary meal. It is one of considerable grade.
Unexpected delay at the Sleeping Giant mine has cost longer term shareholders and recent higher priced buyers considerable trading opportunity. But due the difficulty finding miners eager to work, the recent drop in the share price is understandable.
At least for now, the share price is approaching a more reasonable valuation with a present P/E of 16 times. The Elder mine is only producing financial numbers worth a penny per share.
Most bigger miners are now trading at similar P/E valuations or less. So never think the profit picture of any miner is unimportant.
Certainly, Abcourt Mines has significant upside potential. Its day will come. But not in the near term.
Again we have to wait a little bit longer. Many have recently chosen not too.
Only the patient will be rewarded!
[url=https://]https://stockhouse.com/news/press-releases/2021/09/13/progress-report-on-work-done-at-the-sleeping-giant-mine[/url]
Development work at the Sleeping Giant Mine proceeds at a slower pace. Slow is not too inspiring!
But at least the expected grades and quantities of mineralization are present for the extraction that is due to come.
It happened at Elder and it will also occur at the Sleeping Giant mine.
DEVELOPMENT "The development work is directed in priority to significant ore resources. The objective is to produce ore as soon as possible. Currently, most of the work is done on levels 235 and 295. Over the next months, it will be necessary to recruit additional miners and to open levels 355, 415 and 485.
Over the latest months, definition drilling has been done for the preparation of stope plans. On level 235, in zone 3, the indicated resources according to Nil 43-101 are in the order of 16,000 tonnes with a grade near 11g/t of gold. About 20 holes drilled in that area have located an extension of that zone, at least as important as the known one, according to our engineer in geology."
Gold resources extend vertically to lower levels. These high grades of gold will be followed deeper, one step at time. More available miners will speed up the process considerably.
No potential miner would choose to sleep in his car when the commute to the mine is just a little too far.
Trust your better judgement.
Take advantage of the present share price.
All the best! Java