This top-performing fundie is all-in on ASX gold stocks - TSO, page-4

Not yet, Geoff has telegraphed what needs to happen for GF to likely pull the trigger.

Their in country strategy is pivoted around Salares Norte & the capital invested in the associated processing facility.

It took them over a decade to take salares norte from discovery to production. It will be a strong contributor to their global production, however, it only has an effective 6 years LOM with no real potential for extensions to the LOM.

Their MD stated that they didn't invest so much for the project in Chile to be a one and done.

El Zorro in it's current state is realistically 3 years away from production but that is on a much smaller scale.

We've defined around 1.5moz, however, we need to demonstrate additional scale potential. Could be via large extensions at ternera or a 2nd deposit discovery at DH. We don't need to define the additional resource, but there needs to be a certain level of confidence e.g. a few big wide intercepts.
We're not in a position to be doing any resource level drilling anyways, it'd require too much $ and frankly no small cap gold explorer is funded to do any of that unless there is a 2-3x rerate from current valuations.

GF has appointed their head of legal to our board and they've got staff members assisting us on field with exploration and target generation so they aren't there to stuff around.

A few big hits at Drone Hill would certainly be a game changer. It's a different exploration model they are running now (not sure if this is because of GF input) which will then lead onto La Brea.

It's basically the same with all the other small caps which Collin St have invested in. They all serve a larger purpose as part of their inevitable M&A, Collin St are just backing it to happen sooner rather than later.

The alternative is that they all rerate like 2010-2012 and everyone will be funded to undertake resource level drilling.