Unfortunately, I don't think news out of Timmins will act as a near term catalyst for PRB's share price. It is my understanding that LSG changed the location of the drilling on PRB's property from what WTM originally wanted to do.
The original target was to focus on testing an area of anomalous gold mineralization located in porphyries adjacent to the same sediment-volcanic contact which hosts the Thunder Creek discoveries. Drilling was to also target the eastern continuation of the Bristol Fault, which is spatially associated with the 1.2 million ounce Timmins West Mine slated to enter production in 2010.
Apparently, this target was shelved and drilling took place on the northern portion of PRB's property, far away from this target. Why? Well it appears that LSG might be playing games here, spending money to ensure that they meet the spending conditions needed to lock in their 50% option, but avoiding adding near term value by targeting drilling that has much less chance (or any) of showing anything positive.
Hope I am wrong, but the source is credible.
