For any newbies out there wondering, this was an overwhelmingly positive update and to be quite honest is actually one of the key bits of news I was waiting for.
Why you ask?
Ok granted delays are always frustrating, but they are also part of mining, particularly in developing countries.
But this is no greenfields exploration company who needs the drilling to discover a resource, this is advanced play with a proven resource, drilling only to satisfy ASX regulations to get a JORC resource.
2-3 weeks delay in the scheme of things will no matter even slightly!!
BUT... the discovery of an area with similar gossans and epithermal style quartz veining like that at Morne Bossais HUGE.
This was the one thing that could make this project much more valuable and that thing is increasing the resource at Morne Bossa. Never mind Grand Bois for now, MB is where the mining license is granted and will be where they build the plant first and start generating cash flow.
It is crucial that the plant stays at MB for as long as possible before moving to GB. A new discovery 4.5 kms away would be perfect. Of course there is no guarantee that this surface discovery will lead to an economic deposit discovery, but we are clearly in the right address.
So, short termers, feel fre to exit because of a 3 week delay, but those rational investors amongst us will Hoover up your shares because they can easily see that a 3 week delay is a short term nuisance but have 2 additional targets close to Morne Bossa which could increase the resource and mine life is a long term value driver.
And if u don’t believe me, take a look at the depth and the buyers at .9c. Patiently waiting to get some bargain stock.
So if you are a short term trader, then bye bye go and trade something else, it will tighten the stock up anyway. But if you are a medium-long termer like myself, todays update was amazingly positive. Just what we wanted to hear.
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