First of all, there are group of us that has a significant stake in this company and I'm concerned about below issues:
1st. I believe with the recent NR, the company has demonstrated it's ability to " Over Promise and Under Deliver". Number of occasions, Greg Gibson has stated publicly that we should see 8 million oz with the revised resource estimate. Furthermore, IR has stated that the grade will not change with the release. Under delivered in both accounts.
2nd. Communication regarding NR related to drill results has been disappointing lately. We have been consistantly late and the results weren't up to expectations. I hope this isn't a trend.
3rd. Number of weeks leading up to the NR, sp were trending down with increased volume, which leads to the conclusion that "Others" were in the know regarding the disappointing resource update. It is clear that two of the board members took action and sold significant amount of shares in the last several months leading up to the NR.
Now the Good: The PEA should be released soon enough and market has already priced in a gloomy outcome, so a neutral to positive results should move the sp upwards. Furthermore, the market hasn't priced in the Augen acquisition, so any descent results should propel us forward. Lastly, we have one of the largest potential gold deposits in Canada and with steady release of good to great drill results, we should slowly test our 52 week high and importantly, we are one of the few Jr. that will benefit when the market regains confidence in the Jr. Gold sector. Still holding but the last two days hasn't been easy for all the Longs.