Re: simple question looking for a simple answer
in response to
by
posted on
Sep 22, 2010 08:59PM
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A number of things count, including the price of gold, but the main thing is the skill of Dave Webb in finding the massive resource of gold that is there waiting to lift our spirits. Dave Webb is the key, he has the skill and the knowledge of this geological area, developed over many years of study and work experience. He is the perfect fellow to develop this mine. Nobody else knows it like him, he has the persistence and enthusiasm and skill to take it forward.
Back in March this year, Tradewinds Gold (TWD) floated 22 million units for gross $3.3 million @ 0.15 cents a share. Each unit consisted of one common share and one-half of one share purchase warrant (11 million purchase warrants). Each share purchase warrant entitles the holders to acquire one additional common share at a price of $0.20 per share for a period of one year from the date of closing. The year is not yet up, of course, so one would think there would be a heavy weight on the shares.
Not so, they then found a couple of long intersections of high grade gold (8-11 grams per ton) at their Block A site adjoining Detour Gold's property in Northern Ontario. There were also a lot of lower grade and shorter intersections, not really spectacular results, but with good potential, especially since Detour has a massive resource next door. Today's price: 0.34 cents. Yellowknife has a long history of massive resources of gold too. That is where we are going, guys, up! And not a lot later, soon! Ike