Let's just say when the buy-out at $12. happens, I'll have some tax to pay.
This week reminds me of last year in March when the stock started to move significantly, and then Stifel jumped on board with large volume and the stock really took off. Pretty heady stuff! Regardless of the Teck back-in distraction, there a will be other houses willing to jump in with big buys because the opportunity to make 100% in a month or so is just too attractive. With the size of this mineral field, there really is no downside risk for the next few months. Folks in the industry and the finance houses that support it already know the potential. Their info comes from many sources that we can't get close to - their own geos to analyze data, whispers from the mining camps, assay labs, equipment suppliers and industry insiders. Wouldn't surprise me a bit if Mr. Lindsay or his rep has already had dinner with Mr. E. I mean - wouldn't you? The dollars, the size of the field and the potential mine life are huge and ... its in Canada! The Feds and B.C. are on board.
So the share price has started its move up. The news and meetings over the next few weeks will drive it further, especially when more large buying jumps on board. Teck and the consortium is has no doubt lined up will be OK with this, because it needs a much higher share price to justify its even higher take out price to its shareholders.
I think it will be a consortium that develops the whole area, and I think the game plan is already prepared. Its a realtively small industry amoung the biggies and there is more than enough to share for the next century so why not spread the risk and up-front costs. The BFS and revised resource estimate info is for the public and the finance guys. Teck and its group can already guess the results. Schaft Creek will be the starter pit for the Golden Triangle.
Sorry, I may have gone a little overboard here - I hope you won't think I'm a pumper! To balance it off, I still think management hasn't done a great job of keeping self-imposed timelines. There!
Gonna be a long week-end 'till Monday.
