RE:RE:RE:RE:Precious Metals Summit ZURICH : 2023I agree with you TG. The dilution is the fly in the ointment. This stock has been well over $2 several times in years gone by. Back then, they didn't have a plan, they didn't have a team and they didn't have any money, they had optioned an archaic gold mine for nothing but a promise. But, John Toffin, Bob and Graham Evans likely did very well. Nobody cares anymore about the Mt. Margaret copper poriphery property or the gravel pit at Stewart. This has become a gold play only, despite the big Silver anomoly to the North. Keep your eye on the ball, there is value to that stuff. Pennies here and there add up at these prices.
Here we are, "fully financed" (probably not) and 6 months away from first pour and an estimated 90,000 + ounces of $1900 gold over the following 12 month period. Then 120,000 onces the second year with conservatively $1000 oz profit and 600,000,000 shares out. The second year, adds .20 to the current share price.
Having said that, Ccori Apu is also likely invested in Newmont Peru, and they are our largest shareholder. Red Flag! I assure you that they know precisely how much gold is there and the life of the mine to within a year. No 43-101 required for them. This could easily shape up like another Sprott moment.
There is a lot of mineable gold here. The mill and assay facility will be able to do outside work and generally, things look good. Although, I dont think those assets add to our value as shareholders but it will line someone's pockets.
How much money has been raised and spent in the past 25 years, how much has Deryk's name added to that cashflow?
Pretium spent over a billion to build on a green field site. They also traded considerably higher than us, and I don't think they ever hit their projected production or grades.
For Deryk to continually say that we saved huge dough by not having to build from scratch is a bit of a stretch. We've re-permitted, re-vamped, re-negotiated EVERYTHING and paid a ton of big salaries and options to a lot of people and financiers over time, and there are royalties to come off the top of profits yet.
Those of us who have been here for some time know that Deryk is conservative in his presentations and therefore I agree with Shadow that an updated 43-101 would paint a much grander picture. I understand that they are working on that with no timeline, whatever that means.
It's hard to say what this is "really" worth. However, the world of fake, paper gold and deeper pockets than ours will decide. Will it go over $2 in the next year? Will it get taken out for peanuts by tricky apu? Who knows? The gold game has proven time and time again to be a sucker's game underpinned by government thievery, geo politics and war. Nothing noble about it folks. I have some dry powder and if this looks good in the very near future, I'll take another bite. The buy sell doesn't look attractive to me right now. jmh (but skeptical) opinion.