That's his term he used to describe the high grade feeder for the entire system. Similar to what they are hoping for with a younger formation at AMM as they drill deeper and what Goldcorp found in the deeps. Think Yellowstone. It would be really easy to figure out where the feeder is in 2011 terms, but wait 50 million years and it would be like finding a needle(pencil) in a haystack.
WF also made an interesting comment about the host rock in the pluton but I don't exactly remember what he was getting at.
It has also occured to me that the more one buys or sells, if you've been long since the beginning and want to retain a core position, your adjusted cost base is going up the more you buy and sell minimizing windfall capital gains if you were to dump the whole position at once at considerably higher prices. Maybe Goodman & Co have been moving their cost base up, taking smaller gains annually in various non aggregate holdings without minimizing their ownership until the end game has been established.
