victorious, I think we will see GF move on Conquest at a time of their choosing, probably before they run out of their time and area sensitive drilling mandates, also during a lull when the market least expects it. As has been their past form
In my view the lack of drilling news from GF has been deafening, and we all know that the very rich Silver Hill area has been excised from GF's program, so the only way they can get at it is to perform as per contract, which is time and area sensitive, or alternatively, make a takeover pitch.
According to Conquests drilling reports Silver Hill alone warrants a mining operation, but the problem for CQT in going it alone is one of capital costs, perhaps as high as $90m, unless of course they want to begin with a smaller stand alone mining operation program at Silver Hill, and thus risk a degree of inefficiency due to scale.
GF would be well aware of this, perhaps figuring they have time on their hands because they were invited to the prospect in the first instance to carry the heavy load, if and when this province demands a physical mine. Unless in the meanwhile we in the outer circle hear of a CQT intiative to go into the physical mining business at Silver Hill. Which indeed would stir things up at GF.
The point is, Silver Hill is already the well defined jewel in this crown, and GF would not want to let it slip out of their hands.
CQT Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
