You have to understand I am thinking in probability terms.
Previously I thought Karouni could host an elephant. You have to make up your own mind regarding that possibility. I think it is somewhat likely given that all the neighbours have found multi-million oz deposits. Maybe it's Smarts Deeps, maybe it's Goldstar, maybe not there at all. My personal estimation is that there is a higher than 10% chance. Unfortunately most investors make up their mind too early and decide it's either there or not. We do not have to rush and can safely stay in the realm of probabilities. 90% chance no elephant with return x, 10% chance of getting an x-bagger. You can calculate a value given those assumptions...
Comparing mineralization to other deposits where carbonates are abundant or to mineralization settings in West Africa, there is the chance there could be a giant here. Basically a 0.x percent chance of an xxx-bagger. So far. On the negative side is the fact that any deposit here will probably be narrow and not op mineable. So lots of problems in the details.
Sounds far fetched? But supported by drill results. 19m at 9 g/t and 8 + 8 + 10 + 12 + 32m at 4-5 g/t.
I am not telling you to start looking out for $100 bills on the pavement. Just saying if you see something resembling a $100 bill on the pavement it probably is and you better are prepared to snatch it.
TRY Price at posting:
9.0¢ Sentiment: Buy Disclosure: Held
