Over the nearly 4 years I have held this stock my understanding has improved .... definitely I agree with you about the Hobbs Pipe, I doubt that will ever be commercial. What I think needs testing is the possibility of very rich deposits of remobilised gold surrounding the pipe. The surface is covered in artisan workings and the presence of high grade and wide intercepts deep underground is confirmed .... what lies in between? Could be, might be ....
Further to that there is a whole lot of stuff not explored. From a conversation I had with Julian Malnic [after he left SOC] I learn there is a good chance they have another pipe towards the south where the ground tends to become more oxide [needs testing]. The strike length of the entire tenement is 14k's [which in itself is extraordinary] and all we really know anything about is Hobbs .... not sound thinking to judge the whole site on the bit that sticks out of the ground and which happens to be uneconomic. A fair assessment of what is required is a $25M spend .... not the sort of thing the current management is ever likely to do.
As far as 'all this drilling' .... well not really.... lots of promised drilling. In my opinion there has been plenty of financial planning done by the management ...IMO, its all about generating a price spike that they can unload into. For instance, the drill plan roughly outlined for Halls Peak .... what a waste of time that plan is, just drill into a known high grade area and report results which will impress.... paaaathetic! The proper plan is to test the underlying conductor .... but that is high risk [even if it's there to be discovered] and this management are not made of the 'right stuff' for that sort of genuine exploration.
SOC Price at posting:
0.5¢ Sentiment: None Disclosure: Held
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