Thanks for your replies guys. I should have added that the drill intercepts at Salinbas thus far seem to be at depth. I would agree that 125m @ 2.44g/t near surface woukd be quite attractive but at depth?
Kiziltepe has been grading 4-5g/t near surface, open pit. No shafts to sink, no underground work, no need to lift tens of thousands of tonnes up the shaft, 2x grades = half the material to process and half the tailings to contend with for the same revenue.
Sure it looks like they have some Cu, Mo, etc on top but I guess I'm not as convinced as some of you. Yet.
I don't know about the rest of you guys but every time I see 'Salinbas' in the RNS title of an RNS I eagerly open it with high hopes of Hot Maden type grades.
It's not happened yet and I'm wondering if it ever will as grades to date have been consistently OK but not particularly exciting. I think the best to date was probably 125m @ 2.44 g/t Au + 0.3% Cu inc. 30m @ 7.5 g/t Au + 0.3% Cu
Any thoughts on the likelihood of this changing? It's not as if the drilling has only just commenced.
By 'Salinbas' I refer to the whole prospect including Ardala, etc of course
I'm still very long here and regard the stock as good value based on Kiziltepe alone. But now I'm wondering what likelihood there is for hitting a home run at Salinbas.
Just because someone owns a tonne of shares, doesn't make them right.
It would be fair to say that he's probably bleeding out of his a$$e from his SAV investment thus far. He's also been critical of BCN and has taken time to be hostile and trash BCN over on that messageboard. Meanwhile BCN has rocketed and SAV slipped further round the U-bend in recent months
So maybe he's nowhere near as smart as he likes other people to think he is.
Could also be an arbitrage going on. On the few occasions I've looked, Canada-listed ECO shares have tended to be valued higher than their London listed shares (correct me if I'm wrong). Short selling in Canada whilst buying in London would be expected in that scenario. Just a possibility...