Ann: RC drilling confirms high-grade gold north of Mulga Bill, page-26

I recall exactly the same criticism at both MGV and AME. Punters were bored with more drilling, more drilling, no mine development. Punters got impatient, they wanted mining, not more drilling and boring incremental resource growth. As I wrote a number of times on MGV's thread, I favor a strategy of resource growth and eventual takeover for these small co's. Mine development for these small companies is fraught with risk and shareholders often lose all their capital during mine development/commissioning when things don't work out as envisaged.

MGV has been taken over - tick! AME is now being taken over - tick! I'm hopeful that in due course GBR will be taken over too and I'm accumulating at these historically low prices in anticipation of this happening one day. IMO the key to success with investing in small gold explorers is to buy well-managed explorers with established quality resources (strategically located and with strong growth potential) at a reasonable price. Then, sit back and wait for resource growth and the eventual takeover play. This strategy has worked well for me over the last 10 years, with numerous of my holdings taken over by larger gold producers. Of course there is an opportunity cost with holding pending anticipated takeover, but overall I'm well up on most other investment strategies that I'm aware of.

GLTA & DYOR