Production and Recovery rateNews release will come shortly to let us all know about the better production and recoveries. Emeralds will be sent out to be cut on a regular basis.
For the first time I know why the stock hasn't gone anywhere. The market is drawing a parallel to the diamond industry where very large bulk samples of say 30,000 tons are required for valuation before the market will assign a good value. This is particularly true for emeralds where most remain skeptical. A very large bulk sample is not forecast to occur until the 2005 field season when a small mining operation is planned to remove the top of Regal Ridge. Processesing methods and cutting in volume must be established first. That is what is happening this year. We will see sales this fall but perhaps not enough to convince the big boys we have a viable mining operation.
Again we must wait. However, maybe a larger company would joint venture the large scale bulk sample and development of the mine. The new discovery may throw the planned activities off side. True North may swing their attention to the Howdy Ridge instead of completing the present processing and trenching new areas at Regal Ridge. This will be a tough call.
Hopefully we can JV Regal Ridge so we don't dilute TGX any more at low prices and use revenue generated from sales and hopefully the excerise of warrants to continue to work True Blue, sapphires and the ruby mine.