..From May 2019 announcement..Gimlet Resource estimate...The...

..From May 2019 announcement..Gimlet Resource estimate...
The April 2019 Mineral Resource Estimate (MRE) contains 642,359 tonnes at 3.33 g/t Au for 68,731 ounces at a 1.3 g/t cut-off.

Good post@Bluequartz, nice thoughts, but I am very aware that presently we only have a Mineral Resource ESTIMATE( MRE) of 68,731 ounces.
This does not include the cost of mining this stuff(production costs), and being only an estimate, it generally is on the lower side of this..we see 1.3g/t average cut off grade..

So with this factual.information, I sold half my holding in the low 3's..There is a very long way to go here, I certainly an not being on the negative side, but the recent new holders coming on board are treating this like a production company, which it certainly is not, and is years off from any development for feasibility study and development of a working mine plant ,which will need huge expenditure in the future.
I personally kind of agree with you, but the other side feels that this raise was due to.the pump, and management feel.it is good to get it now, as they have experienced time and time again our shares hitting above 3 cents, only to fall back into the mid 1's.

So it's just a prudent management to act now and raise, and personally I can see this reacting as it has on numerous occasions and head back.under 2 cents quite quickly. If this occurs, then management have acted timely on this CR.

On top of that, whilst we have had gold grades in the past, the most recent drilling results were quite average, with decent grades being space and the average quite low, this can be seen with the average cut off grade (1.3g/t) (MRE).

So in my view, well done to management to getting the CR done whilst the price is up over 100% in a few weeks...I'm expecting a lot of profit taking Tuesday onwards.
drifta