Corvus Gold Inc. KOR

Where is this going?

[ZippyBenji]

Not sure what to think of the results today. As Corvus slowly eats up the $5M exploration funds, Anglo seems to have us over a barrel in no hurry to close off a deal. The drilling program has really slowed down (probably on purpose), big financing required if they go deep or really want to make significant expansion. Anlgo is topped up to 20% so who will finance this to continue? Where is this going?

[CovieNRA]

Overall, I thought the results were disappointing. Out of 12 holes drilled, only 2 brought back results of over 1 g / ton. Several of the holes were very low grade or no results at all. Sure, you always learn when you drill. They now know not where to go. But they burned some decent cash to get this knowledge. Only the POG soaring has prevented this stock from diving 20 or 30 cents. Deeper

[LiquidForum]

Covie if the results disappoint you then I am disappointed in you because you have been around Kor for a long time and should have better understanding of what the results mean. The drilling was exploratory for the most part and that is why there were some misses. Future drilling will also be exploratory and there will be more misses. A future miss is not a failure by ANY stretch. Stock price will

[CovieNRA]

Don't get me wrong, I am still in, I just think the market dynamic right now in precious metals investing is somewhat fickle, with people only showing interest in the 3+ g/ton over double digit meters plays. This has been one of if not the most weakest drill result releases to date, and given where things are right now, with probably a decent amount of investors looking for a quick rise and

[ZippyBenji]

I agree nothing has really changed with the exploratory holes. Still more results to come from the Jasperoid area? What confuses me as an investor is why aren't they drilling deep at the Motherlode instead? Seems like the chances of success are greater and if mining deep is economical it could radically change the whole picture. If an offer hits the table before the deep drilling it will

[CovieNRA]

Completely agree with this.  They can’t afford to do low probability exploration at this point.

[ZippyBenji]

Went through the financial statements: Cash $4.1M as of May 31/19 (before recent dilling) Cash maybe down to $2-3M? after recent drilling. 2019 Outlook: During 2019-2020, drilling at the NBP will continue with drill testing of targets at Japeroid and north YellowJacket. Up to 8,500 m are planned for NBP. The drill rig is projected to move back to MLP in October 2019, to drill up to 5,200 m

[CovieNRA]

Good post - yes, this could be an explanation for the recent selloff, they need much more cash now to do the extensive drilling, and yes, the misses have now become very expensive misses.

[ZippyBenji]

We are heading to a pivot point, I'm only concerned with how things have slowed down. Looks like the drilling at NB is complete or it should be based on those results and they aren't back at the ML until Oct? The worst situation for an investor is when a public company is sitting on cash and the directors and insiders feed off it. Hopefully a big financing and a deep drilling program is