Post by
digger144 on May 30, 2011 8:24pm
Totally Unexpected...
With the latest Private Placement to close on or about May 31, 2011 (tomorrow) I was very much surprised that we had a news release regarding assay results from Cote Lake...highlights being..E11-63...170.20 metres @ 1.01 g/t and E11-55....72 metres @ 2.25 g/t...Excellent!
I did mention previously that they were being ever so careful and this just adds to my comments.
We did get a nice spike but I believe the real action will begin once the Private Placement is officially closed. You can bet that the over allotment will be picked up but we will soon find out if those that were closed out will begin to chase the stock. The shares sold cannot be traded for a period of four months after the closing which will leave those shares on the sidelines until then.
Some may think that the current share price reflects the true value of TRR...to that I say.. think again! Not by a long shot!
If you take a careful look at the assay results of the 10 holes released on May 26, 2011 you will discover that even 1,000 metres down strike we are still getting some amazing hits and the high-grade sections are still being found and are very consistent along the entire strike length.
What does this tell us?
The gold distribution remains very similar in the entire Cote Lake Trend and is showing no signs of weakening! The chances for further expansion is excellent!
Even with 1,000 metres of strike length there is no end in sight!
Word has it that they will be adding additional drilling rigs to work on the expansion targets very soon!
I am waiting for them to release the updated Cross Section Diagrams and the Diamond Drill Location Map after which I will post a detailed analysis of my findings. I look forward to it!
In the meantime...hang on...we are in for a ride!
Digger144
P.S. The NI 43-101 Resource Estimate is at 4.22 million Inferred Ounces @ 700 metres of strike
length, they have added 300 metres since then!
Once the winter drilling program assay results are complete and released they will not
waste any time updating the current resource estimate...this will be very market friendly!
Comment by
digger144 on May 31, 2011 8:20am
Hey Letsgetready...The Prospectus describes the deal in detail and gives purchasers that much more information...hold restrictions still apply.They are being very careful on this one!Regards,Digger144
Comment by
letsgetready on May 31, 2011 9:36am
where do you get your info. on the hold period? Question: why was the time, effort and money put into preparing a prospectus in the first place?Answer: a prospectus qualifies the shares being issued in the PP and they allowed to trade immediately as a result.If you check, I think you will find there's no hold period. but hey, I stand to be corrected on my knowledge of securities law.