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11.5¢ carawine resources limited

Ann: Record High-Grade Gold Intersection From Hill 800, page-31

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Davisite

10,813 Posts.

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11/07/18

17:35

Post #: 34282476
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Originally posted by journeyman ↑

I think understanding why the previous holder never followed up such high grade hits may go a long way to answering your question. The historical drilling, which was only in the 90s from memory, seemed to be very hapharzard and, if I recall correctly, not done in an appropriate manner for JORC purposes. CWX management seem to claim that standard drill rigs were not adequate for the terrain and hence have used underground rigs instead... regardless, why didn't the previous holder raise the funds to do it properly or spin it off before now? There is obviously a lot more to the background story, but I haven't gone into enough detail to work it out.

In any event, 3 directors buying on market earlier this year at a tad below current prices would say they don't foresee any major issues.

I think you'll find some of the very knowledgeable posters on here are also looking towards the cobalt potentially being the main game, and Jamieson as a cherry on top (of the mountain).

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One thing you have to look at with any drilling done in the distant past is price of gold at the time. There are plenty of resources that were not viable when the gold price was at $400/oz that are viable at $1700/oz.

CWX Price at posting: 30.0¢ Sentiment: Buy Disclosure: Held
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