Originally posted by eastwest101
I am not condemning them, as you say, the
proof will be in the puddingonce it is baked. I was just highlighting the common mining dilutionary risks that are possible (and very common) with mining vein style heterogeneous gold deposits with open pit mining. Most people who are already here and contributing would hopefully be very aware of these possibilities so not going to teach grandma how to suck eggs.
Sure there are some good intersections in those drill holes highlighted but the devil is in the detail, they need to be able to wireframe up those high grade veins, pray to god that they are continuous in extent and grade and very selectively mine them to achieve the quite decent grades as advertised.
I can see the whole Sherwood Inferred Resource thing bulks out at 381,000 oz of Gold at 1.4 g/t but at that low a grade of 1.4g/T Au its becoming a marginal product to truck that far to a mill due to labour, capital and fuel costs. Hence the deal with Maroon to try to extract the highest grade ore in this initial 100Kt mining campaign.
So - not condemning them at all, in fact I wish them the best of luck clear.png, and I am even considering taking a small position in them, but the thing is with this is that you need to be in before the production statistics start coming in, because if this does go into production the share price might respond (although sometimes the market can be inattentive and slow to respond in the junior sector due to the negative sentiment around at the moment).
Good on youn eastwest101. I'm an old bloke and fully agree that the proof of the pudding is in the eating. I'm completely happy to wait until that pudding is eaten and then you and I can have a very serious conversation, I've got a completely open mind about this, happy to criticize or praise, but, I won't condemn until the indisputable facts are there for all to see.
You "might" be dead right, but, so "might" I, so let's both agree not to persevere with "estimations" and let's have it out based on actual results!!
I, personally believe that their SP has been very unfairly treated, mainly by management's naivity and the dumping of many of those shares that were issued on the very same day that they lifted the TH. Incredible. What message did that send to the market and killed the SP?
The last thing we now need is negative guesswork based on assumptions. Let's see if that 100,000 tonnes does deliver.
Why the heck do you think that they drilled those 51 extra holes, they, too, wanted some confirmation
and they got it.
Shares at this price are not realistic, the SP was ambushed, sadly by our own management, not by what's due to happen, becoming a
gold producer with $700 million worth of gold waiting to be turned into ingots!!!!
