Post by
threepalms on Jan 16, 2014 8:12am
market not impressed BUT
that does not mean that results are not worthy.
OK maybe the ozs of gold may not look all that impressive but gold equivalent ozs are much better.
I feel that we must consider that even without future drilling by BYV on the Burns Block Newgold can easily use their understanding of the geology to predict what is on the property as a whole even without drilling. Secondly, there are other land parcels held by Bayfiled that have not yet been adequately drilled and that might contain further resources.
Thirdly, Newgold must calculate into their resource what they will be unable to mine due to the design requirements for an open pit considering they do not have under ground rights to the area controlled by Bayfield.
YES. Newgold is the only possible people that can mine the Burns Block. YES Newgold can wait a number of years to buy these properties. However, they can still benefit greatly by doing so now.
Bayfield management are no fools. I am sure they have a plan B.
all in my humble opinion
Comment by
Soulinvestor on Jan 19, 2014 11:54am
At least BYV finally posted a resource count and a guide post for Newgold to estimate the value of the property. At this point it would be helpful if a respected analyst or 2 would comment. My concern at this point is that Bayfield will further dilute the stock with a major financing in order to keep the lights burning. Management's other titles are not faring well at all. GLTA