RE:RE:Re: Flow-Through Private Placement Financing
I'm with you. It's been painful when physical bullion or major silver/gold miners have rewarded investment capital.
Core MMG management made out like bandits with Nova Gold and are wealthy geologists and business men.
They have been methodically patient with their exploration development at Keno but LP is now advancing far more rapidly.
Patience is not in long supply by investors,however, and that is reflected in the share price.
I heard Greg say in an interview that mgmt. participate in all these public offerings and this one appears to be management stepping up and putting up their own funds to facilitate enough cash to do DP's at both Keno and La Plata. They are backing their exploration work/discoveries.
The revised resource about to be released will highlight the Allard system. The 2024 DP @ LP is designed to confirm multiple porphyry centers and a district-scale resource.
If the drills confirm rich,lengthy core anything like the 816m DH 22-04 at Allard there should be a lot of attention drawn.
MMG need to drill to advance the project but it takes funding. The alluvials were meant to provide relief but has not attracted enough partners.
It is the same with Keno. They need to find a partner for it to develop rapidly or they will have to spin it out and raise funds for LP that way.
I am guessing this season's DP is meant to put La Plata on the map.
MMG are attempting to develop the solution for consistent drilling funds for LP without diluting the company's share structure.
They have a healthy system at La PLata and an opportunity to develop it with a spinout or partnership(s) at Keno.
Keno is on the market by mgmt. and this year's focus advancing Formo and on drill discovery.
Hecla and Discovery SIlver have both been mentioned by management and it is obvious that Formo is being developed for Hecla.
Hecla are consolidating their Yukon presence and it is only a matter of time before they absorb all or parts of Keno East.
I think it's worth the gamble to hold on to my shares and see what these DP's and the resource update at LP brings.
Good luck with whatever you choose to do.