I actually still hold as I bought a few back when they were...

I actually still hold as I bought a few back when they were around 18cents (only a small fraction of what I sold).

Like most others I've been disappointed with the speed of the work and I elected not to participate in the rights offer and the company has let itself down based on progress IMO.

I'd need to read the whole announcement more carefully but I think you've summed it up in a balanced way. The holes are few and are very widely spaced so in that context I don't think you can infer very much from the actual gold intersections.

It doesn't seem that whoever is calling the exploration shots has a very aggressive approach towards the project. They might be approaching it in the typical big company "big picture" way. If they can't see the broad scale ingredients required for the project to host a deposit of scale they will probably pull out whenever they can. As long as they like what they see they keep going. I don't think the mindset of the average retail holder and that of the Barrick corporate development guys are the same when it comes to looking at these results. Not many retail holders can get very excited over this statement for example.

"A favourable structural setting for the formation of significant mineralisation was established with the confirmation of a regional scale antiformal fold hinge against the high-strain Temberlin structure. This structural setting is similar to those observed at regionally significant gold deposits including the 13.7Moz Gros Rosebel deposit (IAMGOLD) and 6Moz Meriam deposit (Newmont) in Suriname."


From an average retail investor's perspective the results do seem a bit disappointing, I won't shy away from saying that. That is two rounds of drilling that have been underwhelming from a market perspective. They'll need to produce next time around for sure if they are interested in creating a healthy market for their shares.

Also I don't know why they would be going back to trenching at Gomes-Xenopsaris, it seems like a retrograde step to me. Maybe they get more bang for their buck trying to target the mineralised structures this way but I've found that in these tropical terrains trenching doesn't always get you down deep enough to give an indicative picture of what primary gold grade might look like. Trenching often ends up in the leached zone and sometimes you have gold in ferricrete that develops at surface which is also not very representative. Esh