Re: Webb's Strategy, As I Understand It, Is Not a Popular One.
in response to
by
posted on
Aug 04, 2010 08:45PM
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I agree with spending cash to find lots of ounces - with new cash if necessary from share issues - but I think the strategy of finding the limits of the resource is a mistake. Doodling around the edges will be the end of this company if it continues.
Remember quite recently lots of cash was spent outlining where there was no gold at Clan Lake, and the share price began to dive after that report - with grab samples and trench samples in hand indicating hundreds of ounces of gold where they did not drill!!! I think this is a major reason the share price is under water now, this is an academic approach not a business approach, which wastes money. Yes financing is the issue, but those who provide it need to know it will be used wisely before they will part with it.
We need firm spectacular results, which are there to be had, not wasted cash. Let the limits be found when the core of the massive resource - which is there - is delineated. Ike