Not going the way of other gold explorers at the moment, with the price continuing to fall.
Viking has dropped off the radar.
And they had the option of increasing their Barimaia stake to 80%, but after the last drilling, decided not to, but rather to hold at 65% and form a JV. I think that spooked a few investors.
And the underground grades are ok, with the high grade portion at 4.7 g/t (probably mineable), but the average at 3.3 g/t (probably not mineable). So they need to find more high grade resources for the underground extension, preferably above 5 g/t.
Their open pit ambitions at Orient Well, is still in an early stage.
They need more ounces, and in an impatient market, their seems to be some selling, or else investors see better value elsewhere in the short term, which is probably true.
We should have drilling results and a resource upgrade in Q3. They have enough cash to plough ahead with plenty of drilling, but the market seems to be reserving it's judgement at the moment, so let's see what the next drilling results show.
Gw
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