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Non-Tech : The Woodshed
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To: TheSlowLane who wrote (33412)10/14/2005 1:41:29 PM
From: jrhana  Read Replies (2) of 60929
 
Update from Randy who is very upbeat: The weather has cleared up and the drilling is speeding up. They are hitting gold on every hole and should announce the results on 9 holes within 2-3 weeks. He expects they will be similar to the first group of holes.

He feels they have already found over 700,000 ounces (he cannot officially say this until there is some sort of independent audit). The next group of holes should bring that figure up to over 1,500,000 ounces. He said that he can say that only about 1 in a thousand junior explorers ever find anything so that he has already beaten the odds.

However he feels confident that the Pena Blanca area is just as good and that the odds of finding two such contiguous areas are about 1 in 10,000. As the preliminary work on Pena Blanca continues to be very positive, he says his geologists feel confident they will also hit there.

In other words he feels he will beat the 1 in 10,000 odds and hit twice in the same area.

In summary, he is very happy with the progress.

He expects that the speed of drilling will speed up considerably in the first three months of next years and that the grade will be significantly higher.

He says that after a possible further correction of $10 or so, he expects POG to trade above $500 in the next three months. He says that he expects that when this happens the junior explorers in general and CKG specifically will do much better.
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