Re: Exploration Update
in response to
by
posted on
Oct 06, 2008 04:24AM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
Thanks to all who reported on last weekends conference. Great stuff. Again, it seems that we have confirmed and increased our tremendous potential, but we havn't nailed down an economic find yet.
For those of you with more experience than me related to gold mining, what gold price will it take to make the Golden Mile economic assuming that it is 7-9 km long, 2 km deep and we have grades and widths as already determined up to this point. It may get wider and richer further down but let us ignore that for now since it is not prooven yet.
With European stocks down another 5-8 % this morning and all the doom and gloom, what strategy should we take? Continue to expand the potential by more stripping and surface grab samples, or spend the big bucks and go deep? Spending lots of moeny on general marketing I would not do, may be selective to certain groups, but would not go on a world tour.
The 'only' good thing about a sever downturn is that things get cheaper and experienced people may be more easily available. So if we have lots of cash and lots of prospective targets, in the long run this downturn may actually be to our benefit, at least lets hope so.