RE:RE:Love the news...the assays...the near surface findsInteresting perspective, and one that I don't share. As for you posting the comment here as well on on CEO.ca all the power to you.
Ron has managed quite well through Covid and back to back fire seasons in CA - having advanced the project through discoveries, sampling and trenching this year alone. Significant high value gold values from surface exploration have been added to the high finds from the 600 level work ( see Sept 25, 2017, Nov 1, 2017, Jan 3 2018 news releases) as well as Table 9 of the Feb 12 2018 43-101 posted on sedar
When this is combined with the first shallow drill program, and the good results from PM19-05, which identified a new gold bearing zone (see June 27 2019, July 16 2019, Nov 8 2019 news releases - the associated maps on those news releases are particularly good for familiarizing yourself with the property)
And why the focus on PM19-05...because it hit mineralization at 0.31m - 3.35m as reported in the July 16 2019 news release as well as the further sampling done on PM 19-05 as reported in the Nov 8 2019 news release (values as high as 17.4 g/t again at 1m
So now, we have the opportunity to do Phase 2 drill program, and the potential is - as detailed in the latest news release - as snipped below - to drill these near surface high grade targets with the objective of
adding to the stockpile material for milling.
.... And that .... Would make PHD a
gold producer as they would be producing from new at surface, or near surface high grade hard-rock....not just a stockpile re-processor.
STOCKPILE UPDATES: The Company previously announced plans to move forward with re-milling of our developed stockpile which is not NI 43 101 compliant, however, Covid-19 and serious threats from nearby forest fires during the past 18 months created significant risks beyond the Company’s control forcing us to abandon those plans for the time being.
In better news, the Company’s team of geological experts has designed a drill program for two purposes: (1) to explore the near-surface high-grade targets with the objective of combining the potential bountiful hard rock with the stockpile material, greatly enhancing milling confidence, and (2) additional drilling to verify the significant hard-rock potential.
So...drill away Ron and PHD. confirm the 77-97 g/t gold sample as detailed in the Sept 21 2021 news release
We also I believe, have 60 samples waiting for assays (Aug 24 2021 news release)
The project is derisking nicely, and the sell down of SP last week was a deliberate attempt to depress the share price....which imo, is a buying opportunity
So.... @Avocadopit, I do not agree with you on any of your three points
(1) on your analysis of the "only real hope",
(2) nor do I brush away Forest Fires and COVID as immaterial events as you so easily do, as they quite clearly imo, are the real reason for the delay
(3) on Ron's abilities - I see him derisking and managing PHD quite nicely given the circumstances, as well as very responsive by phone and email
Cheers to the PHD ground floor investors
Avocadopit wrote: As I posted elsewhere...
The problem is that Ron has never brought a mine into production. Processing the stockpile would have been an easy way to get to that, but even something so simple as that was too much for him. He is great at raising funds, which is what he is going to do now, and perhaps doing the pre-mining setup, such as drilling for more resources, but unless they hire someone who has actually brought a mine into existence, the only real hope of obtaining production would be if another company bought them out, preferably via a stock swap deal. Finding such a company is the challenge.