The market is assigning zero value for Milestone so I took a closer look at the numbers to see what might be the problem.First I added the intercept lengths and assay to the previous numbers to see which direction they were trending. Both the average length and average assay value is trending down so I went through Brett Resources(BBR) Hammond Reef resource report to see how it compares( Kodiak is using that deposit as a geological model). Their deposit is about 2500 m long , less than 300 m deep and about 300 m wide. The report settled on final estimates of 259 miliion tonnes grading 0.8 g/t with cutoff of 0.3 g/t. The amount of gold is estimated at 6.7 million oz, which is impressive. They trade over $3.50 with about 120 mil shares FD. When you look at the grade values along the drill sections they aren't all that different from Milestone so I'm not that concerned about the MIlestone grades anymore. The big difference , however , is the long intercepts lengths which are frequently above 100 meters with minor gaps. The Osisko Malarctic deposit that someone posted here before also had some very long intercepts which were greater than 200 m in some cases. I think that's the issue with Milestone. THe intercepts are not long enough and the gaps between the mineralized sections are too long. That suggests dilution would be a problem. I'm guessing that's why Kodiak has positioned their locations for the Phase Two drilling program. They've gone back to holes like MS 10-2,3 and 12, where they had the best and longest intercepts( Hole 02 had 41 m @ 1 g/t). The phase two program is going to make or break Milestone.
