So, more great news from Goldstorm drilling. I have been very patient until now, preferring to see the limits of the Goldstorm deposit before any PEA and eventual buyout. However, I believe it is now time to change my tune.
This deposit continues to grow in size and improve in grade as it moves to the N/NE. How long can this continue? I thought surely this would be the year they finally define the limits, but this no longer appears realistic. With each passing drillhole, the CS600 zone flexes more muscles, screaming: "Look at me!" Have we even found the central core of the CS600?
What if we are no longer into a "string of pearls?" What if we are moving toward a pool from which the "string" originates? Given the fault and Kyba Red lines, this could continue for who knows how long. Or, it could pick up again where the next pearl is hiding.
In addition, the decent copper grades raises the attractiveness of this zone in today's and tomorrow's green future. Therefore, I would assume that to maximize shareholder value, arguably the exploration should be allowed to play out until the zone is exhausted.
How long will this take? I no longer believe it will happen this year. But who would bet the limits can be found next year? Or the year after in 2025? You see, champagne problems.
So now, my preference is for a PEA after this year's drilling. I know, it will qulckly become outdated, but perhaps it is needed as a preliminary marker. It should help Tudor raise money on more favourable terms too. Besides, as a primarily Teuton holder, the expenses of a PEA will not be borne by us, but we will see our 20%+ benefit. At this point, Teuton's carried interest is a godsend.
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