Russ:
<<picked up my first shares Friday.>>
You were much smarter than me. As you can see from my last post, I've been "stuck" with GEO for years! Although now I'm very pleased with my position.
<<Marathon seems like the big value added component. To me it looks like considerable expansion (drill hole map shows 200 meters to the west of the defined zone) of the tonnage is underway.>>
I'm not sure that the current results add a lot to the deposit yet. Hole G5 is very close to the previously defined zone and G1, although further away, is lower grade. Still waiting for the results of G3, G4 and G7, which really could add significantly. Either way, the existing deposit looks *very* economic to me at anything like current prices, and that's what got me interested in this. There's a very good BMO/Nesbitt Burns report which describes it as "one of the most geologically favourable PGM exploration projects of the 19 projects we have looked at....", with "... a high probability of becoming a mine..." Another report I read described it as something like "the most advanced PGM exploration play in N. America".
<<After all this stuff is TRULY SCARCE>>
This is true! With most of the limited supply of Pd coming from Russia, and unlike Au, most of it being consumed in car exhausts rather than recycled, it's hard to see the price falling back down until a lot of new production comes on line -- many years from now.
It would be good to get more info on what sort of PGM grades are considered to be economic for open pit mining. Maybe Claude can help?
Regards,
Howy |
