RE:RE:RE:The Lassonde CurveIt doesn't matter. The economics of mining do not change. The Ishkoday may be a land of gold but the only people interested in a land of gold are in the rainbow business. The value is in the potential for a mine. You may think an expanding strike zone is a good thing. It is, but it's a double edged sword. An open pit mine is typically 1km or so wide. There is gold all along the 6km x 3 km zone, and it may total more than 10M GEOs but that doesn't make it accessible, economical or profitable.
What is needed is one square km with enough mineralization to make it economically feasible. Scattered deposits are not worth the sum of their mineralization. This is what Roger was talking about when he said an MRE would not reflect the true value of the Ishkoday.
Laurion seem to have identified the Sturgeon River Mine area as the area with the most potential for high mineralization. It looks like infill drilling here will be a focus of the 7000 meter drill program for 2025 at a cost of around $2.6 million. By rough calculation of total cost/cost of drilling per meter this looks like they may space the holes 100m apart within the area in order to produce a MRE for the area. I doubt that they will use the money they have for drilling so I would expect a PP to be announced this fall.
This approach is conventional and in line with expectations.
I have heard the "it's different this time", "the fundamentals don't matter anymore" and other jargon to support high valuations in all kinds of industries, but in the end, the market fundamentals always win. There is no unconventional path that makes the math different, or bypasses regulatory hurdles or environmental challenges.