And you are the bed wetter, who was telling everyone (especially Dodge12), that SNG was a long play and you could do the drag, ie hold long term, but in reality you were selling, and left us with the serial muppet Dodge12. He should be directing his vitriol at you.
Gold sentiment is on the turn IMHO, the gold price is holding onto recent gains, and is above $2600 in Aus dollars.
If the momentum in gold increases, many of the world’s central banks are currently buying gold, do some research, then the gold exploration sector will be the place to be.
SNG are exploring in known high grade gold country, and I think that the focus of ongoing exploration for SNG, will be more at Lyell, Auld Creek, and Sams Creek, as opposed to Alexander River and Big River.
Alexander River is probably at the stage where exploration needs to shift underground, Big River could be similar, not real sure about Big River exploration.
Exploration is expensive, SNG, spent 3.2m last quarter on exploration, which was predominantly at Alexander River, but with limited funds, I think shifting the focus to the other areas, where drilling from surface, to test these areas, that have returned good results from trenching samples, makes more sense.
Good exploration results in these areas, in a market that is focused on the gold sector, would present a situation, where money could be raised at much higher levels, to fund the further underground exploration that Alexander River needs, and hopefully find more of the gold rooms, to compliment the one SNG, has already found at Alexander River.
As for today’s resource update, I don’t pretend to be a geologist, like many on hotcopper do, but it was performed by a independent company, so I don’t have any reason to doubt it.
I am no gold mining expert either, so wether a underground mining operation at Sams Creek, is feasible, with current grades, I have no opinion, but the bloke running this show has a lifetime of mining experience, just my thoughts.
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