Why is it that no one learns from the information the company provides?
In the past the fact that gold discovery costs are $10-20 per oz has been put in the MD&A and discussed at every annual meeting. It has been the subject of much discussion in the past by EW and many others. If they have spent $12M in the past two years and $4M so far this year we can realistically expect to see 800K ozs at $20 and if it gets as cheap as $10, expect 1600K ozs. Why do people get to fantasizing that they have more. There are all kinds of variables in the drill programs such as some holes have no gold, some have extensive high grade, and quite a few holes were drilled to sort out the way the hinge rocks were formed, that are useless in a resource calculation.
This is not a lottery machine that pays out every time, it is a long term mine that will produce as long as the price of gold makes it viable. Selling out every time you get a feeling means you have to find something better and that is even harder than holding a good stock that has gone from $0.15 to $3.10 in 4 1/2 years. It is one of the 1 in 1500 chances to make big profits and I happen to own a substantial position. I will probably own this stock well into my now started retirement process. The main requirement now is to get listed on Toronto so that the shares can be margined and the remainder of the funds that like it can buy, and that is the only way this stock will go up: when there are more buyers at a higher price than sellers.
HM
