Spot on GT55. Lacking big picture Focus. Flicking through some...

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Old Miner 999

17 Posts.

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03/06/21

10:17

Post #: 53613628
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Originally posted by GT55: ↑

I’m assuming Bruce is talking about you Vyk, I would try and have a conversation with one of the two guys that left the company recently and get some perspective. BM has been talking about going into production since 2018 without any plan too do so, and in this interview he’s mentioned a resource upgrade in the next month and a 20yr mine life. That’s great.
Then he also mentions a CR to drill out 11 old pits for what? More oz for what?
Think this through, these pits now seem to be the hope for a startup resource that even the new upgraded resource isn’t capable of doing, because he would be talking about pathways to production from here!
I asked one of those guys that left “is there a viable resource here?”
answer “there might be”
There are no givens here.
When your chairman mentions the names of 11 pits he wants to drill (is that important?) talks about a loader and its track and parts (why?) it’s all useless detail, and doesn’t talk about this is how we are going to get into production and maps that pathway out you know it’s going to be more of the same as the last 4 years.
Talk about not seeing the forest for the trees!

Good luck!

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Spot on GT55. Lacking big picture Focus. Flicking through some of their cross sections in the Annual Report, its seems that a lot of the resource wont make it into reserve, based purely on geometries of waste strip.The production rate he mentions is too small to generate a decent NPV IMO. I would stay away from this stock, until they produce a feasibility study (with credible consulting firm/individuals).

VAN Price at posting: 6.7¢ Sentiment: Hold Disclosure: Not Held
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