Several Stockhouse members continued to post their thoughts on this year’s PDAC with the community on Monday evening and Tuesday morning. Here are some highlights:
On the Explor Resources (TSX: V.EXS, Stock Forum) Bullboard, dolf2009 said:
At the PDAC yesterday practically every Junior mining company is sitting on a producer, in their opinion. Nobody however has the results that EL has. CD had core on display that showed a variety of marbling and some with VG. The reports include the highlights but that does not mean that the gold is limited to the core sections reported. They have also likely just scratched the surface of the deposit. CD said that this will be soon be advertised North America wide. I expect we will then see the real value of our stocks? Hang on[sic]
Meanwhile, on the Bravo Venture Group (TSX: V.BVG, Stock Forum) Board, canadianpilgrim provided the following opinions from the convention:
I'm no expert. I'm just a retail investor who got sucked into BVG's great story. Like many here, I got sideswiped by the lack of a 43-101 today. I thought I would go down to the Core Shack at PDAC and hear what the company reps had to say. I got to hold the famous Hole 87 core.
Apparently other people from the company were downstairs and had made a presentation earlier (who, I don't know). I didn't get to hear that. So obviously, we really want to hear from the company's management on this recent decision and I can't tell you anything about that.
What was most interesting to me, is that BVG has $3M in the bank and the 2009 drill program is going ahead no matter what. With no more financings, equity stakes, PP's, etc., they are drilling at Homestake in May. They are not in danger of running out of money. They need $4M in total for a full drilling program at Homestake. They seem positive (as do I) that they will get the money due to BC's super flow through program. Getting financing for the rest of the business will be more difficult.
Paraphasing why they didn't release the new resource estimate was that it wasn't going to substantially increase the total ounces. Due to the geology and the 2008 drill hole locations, they could add high grades, but not ounce totals. The 2009 game plan is to strategically fill in some of the gaps, but generally spread the resource East and West along the ridge with shallow holes. That's what will quickly and cheaply put up the resource totals. They are planning on doing 8000 metres of drilling and expecting much better prices from the drillers. (Financing is drying up for all the juniors.) It looks like they are doing what they can to get as many low cost holes as they can that will allow them to expand the resource estimate.
Best case scenario is the first assay results will get released in August. They could rush out a 43-101 in the fall, but will probably wait until next year's PDAC and get some buzz[sic]