Post by
68Charger1 on Sep 15, 2024 4:59pm
FDR: Padget serves up info with a smile
Most of you have probably seen Colin Padget’s brief presentation from Beaver Creek last week. Before I jump into discussing the impressive nuggets of good news contained therein, consider the man himself. Besides smiling more than I have ever seen him do, I also note Padget seemed unusually nervous.
Now, we know he cannot be nervous for the usual reasons afflicting his fellow gold explorer competitors. Is he worried FDR cannot finance easily again? Of course not. Worried about slow or unimpressive assay results? We’ve never had that problem. Worried about permitting delays? Not an issue in Suriname. While not exactly Galt’s Gulch, Suriname may be the closest thing to it on the planet just now.
Padget is nervous (and smiling) because he stands at one of the rare great personal inflection points. And he knows it. I can’t recall the source for this saying, but the words are memorable – and ring true. “The happiest time in a man’s life is when he is in hot pursuit of a dollar with a good chance of catching it.” And FDR’s team has taken us all along for the joyride.
So what tidbits of news can we take from our CEO’s too-brief allotment of speaking time? For starters, I can’t have been the only one looking at how the rich Upper Antino zone was jammed up so close to the west side of our property. An extra 38,000 hectares of land to the west would go a long way toward keeping all that lovely money in the family, so to speak.
How close might FDR be to inking the deal for that extra land? Close enough Padget feels comfortable mentioning it. Think of it: it would nearly triple our footprint. And if those new hectares are anywhere near as gold-rich as what we appear to have now, you can throw my entire $20+ valuation model out the window. Obsolete for being too modest, that is.
Yes, I know, the terms of the new land acquisition will dictate how accretive it proves. But Founders would only do a deal that *is* materially accretive – else why even bother? They’ve been very careful with shareholder money so far, no reason to suspect that will change now.
Next, Padget casually mentions in passing that the 8-10km gold trend stretching from Upper Antino to Buese might actually keep running to the southeast. Maybe more than 15km in total! How reasonable an estimate is this?
I would think the artisanal miners do very little exploring themselves. Why should they? Much safer to simply step out incrementally from existing pits to make a good living. So, it is plausible no one has yet sought to see how far south that trend stretches. (Or how far it stretches to the northwest as well, if we get that extra land.)
Speaking of those artisanal worker bees, they could hardly have prepared Buese better for drill success. Padget reports how FDR’s geologists consider the human-exposed Buese outcroppings to be the best in all of Suriname. My layman’s ear perhaps cannot properly interpret “8-12 veins per meter”, but it sure sounds good.
Not to be forgotten, Lower Antino seems to have our CEO enthusiastic about its prospects too. And one of our drills is already pulling up core there.
Oh, and a fourth drill to be added, possibly before January! The exponential potential just keeps accumulating. How quickly we make a new all time high is now relevant mainly to the most aggressive FDR accumulators – the rest of us can merely enjoy the show and bask in the warm sunshine.