Reasons I' ve Bgt In6 Apr 2021 12:28
Hello ECR'ers
In the last couple of weeks I've been buying in after more or less devouring all available research material I could and having watched/observed all the CB interviews. Like many of you here I've probably the same reasons for going long:
1. CB - I've listened to this guy, he's not some spiv accountant/salesman-type. He's done this before, bringing in mines from discovery to production he knows what he's doing.
2, CB + Rod - both these guys are well respected, they're Aussies and they know Australia.
3. 'Shoestring budget' - to quote CB they're doing all this on a shoestring, means they're pumping cash resources where they're need - into exploration and analysis.
4. Investment - they've bought they're own diamond rig for $160k a fraction of the usual price, form China based on CB's experience before . They've established their own lab which means they have the results back in days not weeks and this will help them to hone their drill zones much quicker, ensuring the average $10k spend per dig is not wildcatted away.
5. Prospects: I like all the major prospect zones they have going on but am particularly excited by Creswick, and clearly the industry wants in on Bailieston.
6. I like the fact that CB states he's not going to give away the family silver (or gold in this case) in any JV discussions and is quite prepared to proceed with development himself - something he's a proven track record in.
7. They are fully funded to 2023 with the possibility of more through warrants.
Look, at the end of the day it won't all be good news but they have good prospects in exciting regions, they've experience, they're controlling the budget and they ensuring effort and resources are targeted to give best results.
I like the cut of jib and it's a company I'm more than happy to back in this space, and that's ignoring the macro stuff going on in the world...which is all supportive IMHO.
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