I chuckle at the concerns here...American Eagle has drilled a high grade intercept (>1% Cu eq) over 300 meters in what is generally considered to be a mine friendly country...Canada. This is considered a high grade intercept people, and reinforces a collection of other intercepts that continue confirm a large porphyry system.
American Eagle has a large "big brother" in Teck looking over the shoulder of American Eagle with interest...This is how large miners operate...Let the little guys take the risk, but hop in there and pay for it and develop for the value created once the heavy lifting has been done...
American Eagle has a Market Cap of under $50 million while Hercules Silver has, at current prices, a current market cap of approximately $150 milion ...three times the value!...AND this is after Hercules price has settle back since the initial excitement!
Keep in mind too that Hercules has traded down too from it's peak of $1.62/share to approx 75 cents...meaning it peaked at over $300 million market cap...
American Eagle has a lot of room to move up in my opinion...Some decent money has been made by some players who are likely doing a little profit taking and diversifying...which is understandable...New players will join for the next leg up.
Investors also have to keep in mind that for the past few days, since the news release, the market is looking for direction from inflationary numbers..so the market for miner has been ho-hum.
also keep in mind...With the shut down of production of the Cobre Panama mine, analysts are very bullish about the direction of copper
copper at just under $4 US/pound....2204 pounds per metric ton...aprox 2.4 ton/cubic meter of ore...
The math starts to look pretty darn good albeit...preliminary.
Miners are scrambling to catch up with reserves as new technologies require a boatload of copper...
Time will tell, but at this point...37 cents...American Eagle Gold is a no-brainer to me as it continues to consolidate after the news...
just some thoughts...
As an aside, I also find it funny...Hercules "Silver" and American Eagle "Gold"'s copper pursuits being entirely different than what they linitially labelled their target resources to be...
GLTA