JEWEL and MORE JEWELS
LF I think you are very right – except I believe you understate QEX’s true potential – times have changed – although the minerals have always been in the ground, and are still there – we are just beginning to find some of them – we have what appear to be more discoveries.
Yes, sometime ago TB did indicate that Castle (including Moat) was/is QEX’s jewel. He said it needed ‘steep and deep’ drilling. He said that it would be expensive – therefore they needed to get the SP up, to minimize dilution when they fund the drilling.
No surprise, it appears they have developed a smart business strategy of exploring some of KSP’s targets (Inel, Sericite Ridge, Black Bluff…) - that are close to the surface. This is to find and identify some other bona fide potential discoveries aimed at bringing real worth to QEX, which of course will bring significant increase to our SP.
Specifically, in addition to completing a 43-101 maiden resource at Inel, they have identified two other nearby prime target areas (Sericite Ridge, Black Bluff), which are undoubtedly slated for further development in 2022. All of these activities can be conducted at a reasonable cost – the drilling is not ‘steep and deep’ like Castle. Simply put, these KSP targets have the potential of adding big value to QEX, and a large increase in its SP, all in 2022. These targets have real potential – they are bona fide – they are potential ‘Jewels’ too.
That doesn’t mean Castle isn’t the ‘Crown Jewel’. The Moat area's border is a couple of hundred metres or so from Newmont’s proven Saddle South discovery. As you know, Castle has about 6.5km of the total 10km geographic alteration that it shares with Newmont. And basically QEX has yet to do any of the expensive ‘steep and deep’ drilling.
LF, I also agree with you when you say it is the patient SH who will benefit the most. Although frankly I do expect 2022 to be a good year. I expect strong results from QEX’s 2022 activities,; this will increase the SP significantly. Personally I think that will allow QEX to continue still further exploration and resource definition of KSP in 2023 – as well as probably starting the ‘steep and deep’ at Castle – and that’s only if Newmont (Saddle South & Saddle North) doesn’t approach us to do something sooner!
I am very satisfied that our Management/Executive/Exploration team has both the business and technical acumen to continue their ‘only just begun’ systematic exploration and assessment of our various properties. When I sit back and think about it, it is only then that I can start to understand the real potential future of QEX – we’re talking about KSP (only the beginning, many more other Targets); then we talk about Castle (hasn’t really even begun) – either of these could be large companies. Then of course we have other major properties in the GT: Kingpin (lots of Targets to explore – right beside KSP), North Roc (43-101 completed), Coyote – these properties all have numerous bona fide Targets to be explored. That’s not even mentioning our Heart Peaks, Sophia, and Hit properties.
I better close, I’m starting to look too far into the future – but it is almost mindboggling to think about QEX’s real potential in the longer term – and we’ve really only just begun!
Let’s hope we make one (or more?) major ‘hit’ in 2022 – that would put us in the right position to continue funding our future exploration/assessment with good SP security.
Good luck to all of us!
IMHO DYODD