Drilling program update from Mirsad
"Gold_Strike" here (had to change my handle slightly, as I lost my email access for my original account).
Got the scoop from Mirsad and will summarize here. Anyone feel free to call or email Mirsad to confirm if in doubt or want more info:
--Drilling is still in progress (as I figured it would be per the last news release) and will be for the next 6 weeks or so.
--They haven't run out of money and they can drill a lot more with remaining funds.
--They have a better understanding of the fractured rock and old mining shafts with an updated 3D model, so drilling speed is increasing.
--They will look at the drill results from the cores submitted already to refine additional drilling nearby, and will follow up on it in this current round of drilling. But they are continuing to drill other holes now that are not dependent on the initial batch of drill results.
My opinion: Of course we hope that every single hole drill turns up massive silver the entire length that will break the scale, but even a large high grade resource will show duds as it's explored and the model refined. Will the holes drilled this go-around result in more funding for a 2nd round of drilling next year? My belief is that it will. If I thought the last successful drill program had uncovered all the silver there was I would not be in the stock. As far as Sprott not exercising his 60 cent options during the summer, he may just be waiting for the results of the entire drill program.