goz.v - hi John, caught your comment on CD's thread, don't know how much weight should be put on my take of it, i'm wrong a lot and when right am often early ... but for what it's worth, i rank Gold-Ore above most gold plays at this point, and have been adding lately, have no intentions of selling any anywhere near these prices, it's a great hold for review next spring, imho
The results today were fine, more of the same highgrade, thoroughly economic [they only need mineable widths of 5g/t to make fat profit] - goldoreresources.com
Thing is - when are they going to get it together to step up production? ... it's their slowness that holds the share back, imho, and nothing more ... not entirely their fault, there are backlogs throughout the sector, and i heard the drilling was going slow, contractor has new drills and they're working the bugs out of them still [better now, is the latest word] ... it sounded like it'd be a miracle if they finish the full fease by year-end, which was the plan, but it should be done shortly after [my own deduction, nobody actually said that] ... reason this is frustrating is that there is no question they have a mine here, and they don't need much for capex to get rolling - in their place i'd be tempted to dispense with the formalities, max out friends' and families' credit cards, and go mining, make some bucks and grow the company with them
Pros - politically secure jurisdiction
- fully permitted
- lots of ore, narrow-vein but highgrade and extensive, variable/nuggety but rich
- high recovery from gravity alone, simple cheap process
- mill in place, could [and will] be improved but completely functional as is ... in fact, is already producing from old stockpiled open-pit ore
- miners and contractors available, quite near an old mining town
- great cash flow on full production, 75k/yr gives around .40/sh net [from memory, maybe more now that gold is higher]
Cons - not exactly speedy [unlike Randy R, they have been known to say 'In two months', lol]
- and that .55 placement of last winter still rankles ... but i guess you have to get your friends in |
