Re: Buy at 30? - good question G?
in response to
by
posted on
Feb 25, 2012 09:39AM
New Discovery Resulting in a 20KM Mineralized Gold Belt
Hey G.....this is my own personal opinion:
1-Are we sitting on a potentially economical ore body? far to early to tell with the information available, but there is at least potential and further drilling is needed.
2-Do we have a management team/BoD we can trust-have they been delivering results? After a solid start and then a very rocky midpiont, I would say we have a management team that understands it's strengths and has come to accept their weakness. They then compensated to make up in the areas they were lacking. That is the sign of a maturing and competent management.
3-Do we have a jurisdiction that is safe? unless someone is planning a referendum.....I'm thinking , yes
4-Do we have enough money in the bank for the next 12 months? I sure as heck hope not! Even with 7 mil, possibly, coming in from warrants, I hope we need 6 drill's on the ground come summer to define all the new targets. I hope we have sound reasons to be short of cash.
5-Do we have infrastructure challenges? Not as an explorco, but it sure would be nice to have Osisko building a 3000 tpd mill accross the street. Speaking of infastructure, does anyone know how far away the nearest Tim's is??
6-Do we have native issues to deal with? Yes!.....Glori is definitley French Canadian
7-Do we have an exploration team that can prove up our potential? It is still in it's early stages, but so far they are impressive. If they hit with the next set of results it will definitely build confidence.
8-Is the share price acting properly-Is there evidence of distribution? Yes......but only on a chart of 6 weeks. It is no longer the chart from a P&D, but we're not quite in blue chip territory yet.
9-Are we undervalued for our current results and future potential? No....there is some future NR potential being priced in right now, and even nuetral news will set us back. 6,000 g/t can give you a heck of a tailwind which can also blow in your face with a bunch of zero's. That said, a solid set of assay's with decent intercepts and we could blow through the next resistance level.
I personally had the opportunity to participate in the Jan. pp and had intially committed to a fair chunk. I backed out when the warrant went from a full to a half. A 10 cent pp with a .18 warrant is looking pretty good right now, but I'm fine with it. As Glori said I have warrants coming due and will not be selling to exercise, but will bring new cash. As much as, some, would like to see our warrants expire there are some that definitely have earned the reward, so I wouldn't blame anyone for selling to finance a warrant excercize. I sold a few shares (1/3) on the way down and have not purchased a share yet for the ride up. My warrants are about all I plan on buying. I truly want to be saying that I "shuda, cuda, wuda" a year from now because that will mean we are way up from here. I wish that for everyone here. Stay real.....stay focused and honestly ask yourself the answers to Glori's questions and add a few safety questions of your own.
best of luck and the cheque is in the mail...........well........maybe after the next NR.
pc