i attended the MEI presentation and found Tunks uninspiring, as did neighbors. For example, on slide 5 Tunks said that the artisanal miners had produced up to 1m oz, mostly as small "pockets" of very high grade: +20koz/mo he said. This is what the current drill results look like - small high grade pockets with limited strike/dip extent.
It is unlikely that this has not been noticed by previous explorers. On a side note, GoldBug 2018 said in a previous thread that this was comparable to OGX where Tunks was the geologist. I cannot comment, but worth looking into.
Overall Tunks seems to be rather inexperienced at the "coal face" of gold geology and all his references were to himself. There was no reference to the board or exploration team or any supporting players.
For my money the market got it right today. Others have spent millions hitting comparable grades at these projects, but there is no doubt an issue with extent, both strike and dip.
But geology will always surprise us, do not give up but use care in any future investment decision.
MEI Price at posting:
6.4¢ Sentiment: Hold Disclosure: Not Held
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