i beg to differ. management is managing news flow, erm... sorry: i mean, assay results are taking time to assemble. there will be further news releases in december AND january:-) it seems these will include more detailed/extensive samples from Nub and NWB, two of the prime targets in the southern part of the epithermal corridor. after that, there will presumably be more NRs to come about financing or options/jvs, prior to field work recommencing. so we have a few months over which the profile of the company may continue to rise, and the share price with it. the glossy brochure, and other remarks made by management, seem to me to indicate they have a high regard for their property. i dont think they will be wanting to dilute themselves by doing a PP at only 50 cents.
the latest SML brochure says the corridor may contain 7.5 kms of continuous mineralisation, not just the 5km of strike mentioned in the NR. the corridor itself is 16km long. the november investors' 'fact sheet' speculates it could contain up to 5 million ounces of Aue.
they are also now talking about up to 10 porphyry targets a la Kemess on their property. the Pine deposit already has an indicated 4 m oz Aue (including Cu at a conversion factor i worked out on the back of an envelope this morning, so you may want to check my math...) on the basis of 49 drill holes.
so it could all be worth nothing. or it could all amount to 20m oz plus of Aue in a couple of years time. ya pays your money and ya takes your pick.
if the november fact sheet and brochure are not on the site, e-mail management for them: they are interesting reading.
big thanks to liz for introducing me to SML when it was but knee-high to a grasshopper... liz, i will owe you some cases of our best bethlehem red this time next year, if all goes well!
peter |
