........at last. Was starting to think that they weren't actually drilling and had gone back into hibernation. Onwards and upwards!.......bid still looks pitiful and wtf 75% spread at close.
Kingbob - This is a free BB and everyone is entitled to express their views and opinions, yourself included. But talk about pot kettle black!. How you have the nerve to say that any LTH is putting investors off is rich from you. One because you are not an investor here, your a trader, and two because if anybody puts "investors" off its bull****ting lying rampers such as yourself.
Ya stopped peddling didn't ya? & the bid drifted back to where it started didn't it? Who's gonna put the cream on now then?
Seriously though after a year of nothing it wasn't a bad update - hopefully the remaining drills will provide some good results too in the next couple weeks & perhaps a rise on the bid will stick.....couldn't give a rat's clacker where the ask is how much can I sell for is what interests me!!
As for a JORC it'd be nice for them to give us some freakin idea when it will be & why/what the stud muffin in action' happened to the one promised at the beginning of this friggin year!!
COLI - I am 99% of the time an investor (depending on your definition), and ORE is an investment for me. I was in several years ago for quite a while, but decided the BoD were not getting anywhere and sold. CB's arrival has changed my outlook, as I think the company is in a good position cash in the bank and an experienced well connected CEO. I don't see CB coming on board to do what Ed Slowey was trying to do. Why bother (forget all the 150k per annum stuff). I am hoping he is going to get value for ORE by a JV or an acquisition. So I see a bit of drilling at Mutsk as a side show - unless he is trying to generate interest in it (for a sale/JV) as some seem to be alluding to. I don't think there is much value in gold in the ground at the moment. I remain very positive about the company however, and have faith CB will deliver.
exactly my thoughts! as they strip away and expose more, while self funding or generating a profit. It could be they have a huge asset. but they cannot mine it all at once, so JORC in stages and get the ball rolling!
Spot on. I'd be happy if they JORCed up quadrants at a time. Get some recognised value in the board. Without any JORC, it doesn't count for much really. That was my point earlier. A vast area, we could sample until the cows come home, achieve great results, but without JORC of any level, let alone 'indicated' JORC, making our asset industry-recognised as mineable, we'll be no nearer to meeting the criteria for safer investment and so on.
Ultimately, we need the first level of JORC, then build on the levels. Only way to increase the value and further derisk. Everyone likes an officially recognised, tangible asset.
The quick drilling programme was going to Either deliver dust, a small amount of gold or a reasonable amount. Hitting nearly 3g is good news. But we are still not able to value the Mutsk asset. Therefore it will be difficult to gain the necessary investment or financial support to drive this forward. The problem has always been getting to the point of jorc. This drilling results, as good as they are still mean we are in the same position as we were in February, just with a diluted share and running out of cash fast. I mentioned several times drill in the identified zones and you will get an average of 1.5g these results are better than that and for that I am pleased. For those wanting a quick win, this is great news. For those hoping for the days of production are we really further? More data over a greater range confirming continuity? I expect a detailed plan, a further commitment to achieve jorc and a further dilution for cash for the new year.
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