RE:RE:New here3.1 million ounces published reserve and they have done a lot of drilling over the past couple years and have not updated the publich resource numbers.
I say conservatively we are at 3.5-6 million ounces maybe even 4million. You can bet signal has shared the database with any prospective partner to do their own calculations and compared with what numbers Signal has internally.
Knowing the deposit (yes I have licked the core - hehe)...I say easy potential for 10million ounces...lots of future drilling at depths of 300 - 900+m required to proove this of course.
At 3.5 million ounces we have $CDN12,267,500,000 and as of today our market cap is 21.68 million...quite the disconnect!!
The debt is noting compared to the value of the ground...head shaker that we are sitting at 9 cents, but are not alone...look at many other non-producing juniors who are strugging even more than SGNL - MAE is in bad shape too...so the tough market for sure is to blame. Any gold company producing or soon to produce like CBX are doing just fine...those like SGNL and MAE (wanna be producers) are in tough positions. These companies can turn on a dime tho with the right deal and ca$h to move forward towards production. When they turn, in this gold enviornment...they will fly...but deals need to be signed first.
Hope to see Kevin and Rob announce something soon regarding an agreement to sell or JV as their ongoing process with BMO Capital wraps up.