RE:Great opportunity I was just checking out this stock with a 100 million market cap. They are not even close to production are they? Where is the PEA? In fact, what are the defined resources and grades, let alone a PEA? What could possibly be sustaining the share price? Drilling results from last year look fragmented to me, with average grades over short intervals. Given the enormous market cap I would have expected to see long intervals of bonanza grades.
There are companies owning past gold mines with currently defined resources of 2.7 million gold ounces with 1/10 th of the market cap here. A silver explorer that has proved up 37 milllion silver ounces has 1/50 th of the market cap here.
Can anyone explain? Is there another property or production mine I am not seeing? Or does management have the ability to go to the market to raise the millions in funding for exploration whenever they need to and avoid going to those who become the majority shareholders like Sprott? Does the management participate in their own placements and have the money to do so?
If so, that's amazing and am not trying to bash, just to understand the valuation here compared to other explorers with proven assets, in one of the worse fund raising environments I have ever seen for the exploration market as a whole.