I make no secret that in the past I have been negative on this stock.
I do question whether the economics of a mineralised zone with very limited strike length stacks up as a mining venture. On a tonnes per vertical metre for contained metal you don't really get much metal, even if these lenses range up to 200m. Has the company realised that perhaps higher grades and larger widths are necessary?
It's easy to plan a drill program that attempts to hit the extension of the mineralisation at depth, but does this create value when at the end of the day you have a narrow zone with limited potential given the challenges I have noted above. Wouldn't it be in the best interests of shareholders to define potential zones of mineralisation along strike, as KDR have indicated this to have potential.
I just don't see the value of drilling something that at the end of the day will just be a technical success.
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- sumarry
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