I rarely gamble in the heads/tails win/lose type of situation., I see it from a different point of view and it does not seem to be a gamble to me. Barrick is relentlessly filling in the data and staying there drilling. So it seems like an unequal risk. Downwards risk for me is $2.85 and the upwards potential is in the area of $35-50, with a shot for $100 and that does not seem like a gamble. BRE-X, that was a gamble, as I would say from time to time on the BRE-X thread, "Ladies, Gentlemen....place your bets" Of course I was not like you and did not get in on BRE-X at 28 cents, however I did get 5000 shares of PFG at 85 cents, and I am very very sure it is not salted, in fact if anything Barrick applies conservative rules that along with RC drilling can easily under report 40-50% of the values(Look at the few DD near twins for example, 25-40% higher, typical)
In addition we are in the epithermal zone and Barricks deep hole may be going for the plumbing systems, in the mesothermal/hydrothermal layers. Can have large deep systems there, with 5-50 gms Au/equiv per tonne. That is where the epithermal stuff came from and it may be in reach and not 20,000 feet down. It can also be long and thin as it followed the subducting strip.(??, large variables here)
Bill |
