Well...this will go one of two ways.Firstly, they raise $5M or...

Well...this will go one of two ways.

Firstly, they raise $5M or whatever, and drill like crazy to get new, shallow resources, push the DFS back as they try to get 1M Oz and justify a 100KOz/pa mine, this then takes another 2-3 years, and I sell out and walk away.

Secondly, they they raise $5M or whatever, and drill like crazy to get new, shallow resources, complete the DFS and make a decision to mine, and expand the mine throughput later. And I hold.

I've seen this happen time and again. When management gets the whiff of being able to get the magic million ounces, and double throughput, they drop everything to do it and forget that they can get a more modest mine going NOW.

Sensible? Better return to shareholders? Perhaps. But only if you truly believe gold will be at $1300+ in 5 years.