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Bullboard - Stock Discussion Forum Stroud Resources Ltd V.SDR

Alternate Symbol(s):  SDURF

Stroud Resources Ltd. is a Canada-based international mineral exploration company with an exploration portfolio in Canada and Mexico. The Company holds its interest in its Mexican properties through its wholly owned subsidiary, Compania Minera San Diego y La Espanola S.A. de C.V. (Compania Minera), which holds prospecting and exploration permits for the properties. Compania Minera holds rights... see more

TSXV:SDR - Post Discussion

Stroud Resources Ltd > Drilling program update from Mirsad
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Post by StrikeGold on Nov 07, 2021 12:39pm

Drilling program update from Mirsad

 
"Gold_Strike" here (had to change my handle slightly, as I lost my email access for my original account).   
 
Got the scoop from Mirsad and will summarize here.  Anyone feel free to call or email Mirsad to confirm if in doubt or want more info:
 
--Drilling is still in progress (as I figured it would be per the last news release) and will be for the next 6 weeks or so.  
 
--They haven't run out of money and they can drill a lot more with remaining funds.  
 
--They have a better understanding of the fractured rock and old mining shafts with an updated 3D model, so drilling speed is increasing.  
 
--They will look at the drill results from the cores submitted already to refine additional drilling nearby, and will follow up on it in this current round of drilling.  But they are continuing to drill other holes now that are not dependent on the initial batch of drill results. 
 
My opinion:  Of course we hope that every single hole drill turns up massive silver the entire length that will break the scale, but even a large high grade resource will show duds as it's explored and the model refined.  Will the holes drilled this go-around result in more funding for a 2nd round of drilling next year?   My belief is that it will.  If I thought the last successful drill program had uncovered all the silver there was I would not be in the stock.  As far as Sprott not exercising his 60 cent options during the summer, he may just be waiting for the results of the entire drill program.
Comment by Gimmesomemore on Nov 30, 2021 10:38am
StrikeGold you say: ''Drilling is still in progress (as I figured it would be per the last news release) and will be for the next 6 weeks or so.'' Did Mirsad told you for how long they will stop drilling?
Comment by Nickdd on Nov 30, 2021 11:35am
Very good question. to continue drilling they need to feel confident in the plan for the next phase assuming that is there will be a next phase. if current phase craps out what is the plan for the next phase. if the next PR does not address the next phase then they have no plan. they tried to hit it out of the park and failed. prove up the 40 mm ounces and sell sounds like a viable plan to me ...more  
Comment by StrikeGold on Nov 30, 2021 12:20pm
Nickdd:   You said:  "they tried to hit it out of the park and failed"  I disagree completely this this assesment.   They drilled BOTH infill and tested unexplored veins, which is exactly what they said that were planning to do before drilling started.    Explorers explore - that is what they do - they are seeing what they have and trying to ...more  
Comment by Nickdd on Nov 30, 2021 12:43pm
Thanks for posting. i am holding until they sell or merge
Comment by StrikeGold on Nov 30, 2021 1:51pm
...don't count out good drill results so soon though on this first go-round Yes, selling or merging is more likley if the drill program once completed is a bust and more financing isn't forthcoming, but we don't know that yet.   And consider the market cap even just right now with having 25 million ounces in silver resources (a dollar per siver ounce) Right now the ...more  
Comment by StrikeGold on Nov 30, 2021 1:53pm
I misspoke....the market cap is well below a dollar an ounce now just based on current silver ounces.  Still a lot of upside here IMO
Comment by Gimmesomemore on Nov 30, 2021 4:14pm
StrikGold you say: ''...don't count out good drill results so soon though on this first go-round'' How do you know that the first drilling results are not good? Did Mirsad tell you this?
Comment by Gimmesomemore on Dec 01, 2021 6:50pm
Just sent you a private message StrikeGold.
Comment by MrDupont on Dec 02, 2021 10:37am
I feel like StrikGold is thinking: ''Oh i think i have said too much''!
Comment by Nickdd on Dec 02, 2021 11:01am
On the contrary he has said too little
Comment by StrikeGold on Dec 02, 2021 2:02pm
No, I was just saying that other than the visuals which didn't show the right minerization from the cores in the new veins, that is the exploration beyond the known silver, we don't know the results yet from the infill holes.   But the share price seems to reflect that the entire drilling program was a bust.
Comment by StrikeGold on Dec 02, 2021 2:14pm
The way I look at it:   The last drilling program 10 or so years ago was extremely successful and ended up adding about a milllion silver ounces per hole if I recall.   So to assume all there is no more silver to be found is highly unlikley.   
Comment by Nickdd on Dec 02, 2021 3:08pm
No disagreement there. my issue all along has been the priority of the drilling. Money is limited use it to drill least risky holes first to prove up the reserves in the original deleneation. then swing fire the fences!
Comment by StrikeGold on Nov 30, 2021 12:21pm
It sounded from Mirsad like they will be completing all drilling this go around by year's end.   
Comment by Inmypockets on Dec 01, 2021 8:36am
They needed 6 months to drill 14 holes and Mirsad seems to be saying they will complete the 50 hole drilling program by the end of the year...what did I miss?
Comment by Nickdd on Dec 01, 2021 11:49am
You have not missed anything. he can say what he chooses. but do not count on that happening. anyones guess as to when you see the next PR and what it will say. If it does to address the future they should simply pack it all on.