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Let's see what happens, we got the permit for M4,
Should Hopefully get the Permit this week for M2.
Then we can progress on with the drilling, not sure when next batch of samples will be resulted, but all looking good at the moment
At the current price, it definitely worth a gamble ( which I was in lower) but I'm happy with what I have still..
Even if they only prove up the lowest estimate of what they could have it will re rate to a much higher level.
Wont know how high this will go till around Sept I'd say, when we should have all results back, although things starting to look up.
Personally id say at least double what it is now, but have to wait and see. But anything is possible.
Also what I liked in the most recent interview with DF, was the fact that he said that if this is possibly a massive find, then it's too big for a junior explorer to handle, so they definitely looking for a farm in rather than a placing, and that will change the money side of thing dramatically I feel, for the better. Giving us more room to complete the projects without the need for diluting the SP further and to be able to crack on with exploration on other targets and increase our current find
I agree a bounce is coming, however in regards to the placing it's a 50/50 I think, we know we covered for this year. So Yes we will need money after. However I also think it depends on the next set of results we get, which will decide on how the company will get the next lot of funds. If there good and the company handles it well, we may not need to go down the placing route, but the results need to be good, I'm not just talking M2/M4 because they have other exploration sites, with gold, which could be a lucrative play, so we just have to sit on our hands at the moment.
Well between the possible high grades in plentiful amounts, and the fact that gold prices could very possibly continue its run into new highs, then we could have a very very lucrative find.. and that's just the gold and other exploration targets, add that with alot of copper at our main funds, then who knows what/ where we will be then. But until the new samples come back and drills start turning ( which is very very shortly, permit permitting for the drill at M2 - which shouldn't be a problem) then we just got wait for the results.
Yes the price has dropped, but this can move very very quickly, and at the current levels - which is undervalued really and that the price is now what seems to be climbing again, then we could very well have a brilliant year..
I'm aware of what they done, I was in when they done it, and long before it too. But you can't go just on past performances, and it was a different situation. Now we could have potentially a big gold and silver find,( drill results pending of course), which could produce a farm in. They didn't have that before. Yes they could do that again, but I think they want to not do a placing, unless they absolutely have too. We just have to wait and see how further findings come back 1st, but for now ( this years projects, are all covered, they have enough for it) so next year will be when they would do it
We know they funded for this years projects at least so that not a problem, depending on the projects samples and drill results, will decide if they gonna do a placing for next year, or get a farm in.
imo I think they going for the farm in, as it will take a placing off the table, maybe even generate a small steady revenue if a deal is done right with it. But it will be towards the end of year before we know that, until then, things are slowly coming together, permits coming through and then we can crack on. They seem to be a bit more forthcoming with information now ( well so far) when they got any so that's another thing getting better " communication "
Anyways still looks good, just got to wait now.
Not necessarily 14-15 weeks, Don't forget they are doing this at a lower level, plus the type of drilling they will be doing this year won't be affected by the weather as much as it has been, so they should be able to continue a lot longer than what they previously have.
They already stated ( also in latest video interview) that they fully funded for this year, so money not an issue till next year. So they will probably wait till drill results come back before deciding how to go about things and move forward.
Latest RNS, shows they have a good relationship, with authorities plus an extra 60 grand in the bank come back by seems of it. Another little hurdle jumped, getting Closer to drilling too
That is very true, but the geologist would have a lot of ground to cover, and in winter its probably not the easiest job, and once done its then about covering all bases to make sure paperwork is in order before sending it off, and the wait for them to get permits. To be honest it's all time consuming stuff, and nothing really they need to report on either, so it may seem they doing nothing but things are happening behind the seems. However I do agree winter is long and maybe it seems all could have been covered before now. Either way it's close to drilling again so let's just sit back and see what happens.
They haven't had permits denied before, and the company is meticulous about keeping them on their good side, so that's not an issue.
It's just the length of time it takes to make sure everything is covered about what they want to do, And then the wait for them to get the permits. ( don't forget its 2 different bureaus, with different requirements and time scales) That as far as I can see is the only issue. The time to sort the paperwork. Which can take longer than it should which means we start drilling later than planned.
But everything else should be no problem
https://youtu.be/zzyetzBKwN8
Link above should work,
Well hopefully yes, now that they have an geologist on board it should mean they encounter less problems ( although last time that was just unfortunate really) but the drill is lower down too this time, so weather shouldn't really interfere as much and they a lot closer to where they think the bulk of the copper is, so it's not as far to drill down either.. looking good, progressing slowly, but still progressing.
As you say they not ones for hyping this up, although the PR could be slightly better.
They are funded for this years programs, so money isn't an issue at the moment, they will probably wait till after all the drill results come back first before deciding what to do.
I've been here few years now, I've also seen this go from this current level to over 2p, so it's very possible to do so again, and even higher depending on what results we get back from the drills,
Although the rock sampling we got back shows very promising gold and silver and until we get more done on that, I dont think it's going to make much difference at the moment as many in this for the M2 and M4 copper results.
If the drilling goes well this year on M2, ( it should do, as it's an easier location, and lower down) then we could hit the high end of what's there. If that happens then this will change a lot of things, possibly may not need any funding as we could then have interest from 3rd parties to go down a different route. ( still a little way off yet, before we know anything) I'd love to add more at this level, as my average higher than current price, but I'm skint, however I'm still happy with my holding and in time, it will be higher so I'm not worried. This share has taught me patience though.
1st drill will start at M2 in 4 to 6 weeks, once final permits issued.
Drilling at M4 will be late summer again once revision of permit, finished and approved. That was stated in RNS 21/5/19 so not long now bud. Waited this long. Few more weeks for it to start and obviously longer for results but we getting there.. frustrating I know, but you come this far, so bit longer not gonna hurt.
Dont have to worry about mining it, only need to find enough of it to be profitable for whomever what's to mine it. We just need to find the higher value targets to maximize what we could sell it for, and to make it appeal to who ever looking to buy.
Still got our main copper projects to do, so this is a welcomed bonus with few areas of high grade stuff by looks of it, certainly worth following up to see if we can capitalise on it. This is really only the start of the news flow for this year.. so hopefully it will follow on with bigger and better results
What's wrong with the 8 drills they have planned? And the soil samples they are currently gathering and processing? It's an extensive project, that takes time to do, and do it correctly. To make sure they maximize shareholder value, I rather wait longer and know it's being done properly.
800 drill holes would cost millions, not exactly practical for a junior explorer. Don't forget permits take time and they not just focusing on M2 and M4, they have a lot more areas to cover and it's an absolutely massive area to cover too.
If you have waited along time, then what's the harm in waiting alittle bit more.