Hi, gents. Very good input from this board.
Not sure what is driving cyp but most likely piggy-backing on GEA's move on whatever news is expected there. Since we got down to at least 900 meters before in the aborted hole and didn't hit the Balmer then, I'm not liking our chances that we have great core visibles at a much shallower depth in the 2nd try at the original mother hole.
Even if we did, not sure how much gold in that area has come from non-Balmer deposits. I think GEA saw some non-economic showings of gold in the Bruce Channel sediments but most if not all of the potentially economic intersections have been in the Balmer.
Someone on SH said Don Huston was in Red Lake today so maybe some rumours got started that someone found something significant or heard a rumour that GG was ready to take out their wallet for GEA. Anyway, I hope we don't JV. If we need help, pay someone $120K a year to come guide us instead of diluting our share of the current JV(cyp 80%, syh 20%).
The way I figure it, if we keep our current share then if we find similar grades of gold on our property to GEA, we keep our potential for a $5 to $10 share price. Considering some of the potential geological gold trends and 'trap' formations on our property and the area we are drilling in, I think we have a very decent chance at finding enough gold to be economic either individually or as an addition to GEA or GG.
All JMO. I guess we'll see share price stays up and builds a new base or falls back this time around. GLTA