Hello Richnorth
I have been intrigued by the potential of the Royce Claims for three years now. Unfortunately, I simply have not been convinced that management ever had any intention of pursuing exploration on them. They always seemed to have some excuse for another delay or sampling program and seemed to want to leverage that story towards getting $$ to pursue development of the Discovery AU project.
Its a tribute to the potential of the Royce Claims that DB's optioned them and that act alone lends legitimacy to the play that management seemed unwilling to commit to.
When I hear that Monopros is starting their drill program, I believe the play will garner real investor (and my interest), but not before.
I remain troubled by the fact that the claims are well outside the Corridor of Hope and very close to a mobile belt, and I want to see evidence that Monopros has duplicated GMD's sampling findings. However, Monopros would not have optioned the claims if they did not believe there was some potential.
In the past, Monopros' involvement has been the kiss of death to a play, but since they demonstrated substantial progress and expertise in finding the five pipes around the MPV's 5034, the market will probably view their efforts on Royce as positive, committed and potentially productive.
Coupled with GMD's obvious promotional abilities, I see this stock being a nice speculation, but not a worthwhile investment until Monopros confirms their intentions.
I simply have no confidence in the veracity of GMD management, but now DB's must approve NR's so the issue of whether to believe or not should be slowly forgotten as site action starts to match stated intentions.
Site progress NR's should be believable now.
In many ways its like the Back lake play where KLA's pitching all flows from SUF's tight information management. If SUF doesn't say it, no one buys KLA's spin.
Regards & Good Luck |
