In many respects yes...you could use DGC for comparison.
If you look at the news releases from DGC in 2008 and the share price then compare it to GCU, you can draw some solid conclusions.
They started with good drill results in 2007 and worked toward their first 43-10. The share price went from 4.00 to the 12.00 area on the drill results. Once they got their 43-101 they took off from there...they went from the 12-14 dollar area to over 26.
They were updating the 43-101 all along the way...they kept moving from inferred to probable. They hit the 20 dollar area once they had 10 million ounces in all categories ...
Their 2009 feasibility study had the following:
| Average gold grade (g/t) |
1.15 |
| Total contained gold (M oz) |
8.81 |
At this time the grades we are getting are in the ballpark...maybe better because of the large size of the drill results. There will be less waste material..it's all ore.
But that is the model we can assume we will follow as the drills keep turning...
