Can you feel it?
posted on
Feb 07, 2009 07:44AM
Camino Rojo Mexico : In-situ - 4.0 million ounces gold; 68.32 million ounces of silver.
I posted about the +70% recovery at 1 1/2 inch crush earlier this year, the best part is that the higher-grade sample in the met. results returned +80% of the gold, there was more gold in the sample and MORE of it was recovered! This is a big deal 80% recovery, and the share price is beginning to show it IMO. I get it... those that should get it..."get it" and the word is spreading.
Early last year I noticed that the photos of backhoe trenches at Represa were dug quite deep... remembering the initial reason the deposit was found, Represa being an easy to quarry road-gravel pit, I'm thinking... "you don't just dig rock with a backhoe", unless it falls apart! The local road crews used the easiest rock they could dig that made angular aggregate.
I think that those that should get it have recognized this too, that mother nature has prepared the ground for an open pit... Blast, haul, leach and go to the bank! The deposit is vertical with many high-grade blocks at the surface, the ground should be easy to quarry and the gold falls out of the rock with minimal processing.
Holding a long position, having weathered disappointments with what seemed good news, having the suspicions about the value in this deposit, as long shared by many here, suspicions finally being confirmed and exceeded for the oxide ore, it is finally being widely recognized that Represa is the real goods... with an upside potential.
No telling where we will end up, but I think we may have found our way to the expressway after traveling enough back-roads. The market seems ready too, with inflation surely coming, with fear still prowling the markets indicating rising gold prices, people look for quality and Represa is a great quality, easy to get, bank full of gold.
The time-line until pouring the first gold is measured in years, moving this forward with a scoping, pre-feasibility study keeps the clock running and only adds to the value of Represa, value that is finally getting the attention it deserves IMO. The rest will follow.
Not investment advice.