at what point do the shareholders demand more?, page-4

hedge101,

you said astutely,

I would like to ask them if things are as they seem, which is that they don't believe in the mine and are digging and hoping something changes, while publicly presenting otherwise.
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What other choice do they have?

The quant geo statistician came on board months and months ago to review the induced potential technique for finding gold pods. The idea was to review results to date, and yet 6 months later still at it. Obviously the idea of pods, and the techniques are pure hope.

I would venture to say that results are statistically in the noise, and they are flogging away hoping for a change or new development. Either that or they haven't found a pod to test the idea out on. Still operating as an underground quarry.

The idea that the gold is captured in pods and 70% is waste rock may be true in that sense but so subtle as to be economically meaningless.

They have had very high gold content but I assume is thin stringer veins and means nothing.

Some of the cross cutting veins do have a lot of highly mineralised rock, I have seen it underground myself, but in such small quantity that only a single driller in narrow side tunnel chasing after it, not a commercial large scale mining operation.

I still believe the Chinese will take CTO out for a song, waiting for the long term play when gold is $5000/oz. This is years away for them, but CTO can't last that long.

Yep, no position and no sentiment. There is always hope, but not an sound investment strategy to get in.