"it will get cheaper and if hole 29 does not hit high grade then sprott jumped the gun again with 18 mil pp"
Well, Rocket, you blurted out a lot of declarative statements with that sentence; I'm wondering what the heck you are talking about?
First, you are certain that EAS will cheaper? You may be right, but I don't see anything other than an assertion, here, on your part.
Second, hole 29 doesn't have to hit high grade for the Miwah story to continue to roll out. All the earlier buyers who made the "easy" money (as you said in another post) did so with full knowledge of relatively low to medium grade ore being present. It was the SIZE of the deposit and its shallow depth that was attractive, among other things. That is still the case. Folks can speculate that EAS will find more high-grade stuff, but it's not the reason for buying the stock, IMNSVHO (at this point, anyway.) It's a darn BONUS if they find lots of high-grade ore.
I first invested in EAS two or three years ago for their OTHER assets, as not much was known about Miwah at the time. I'm as excited about them getting developed, as I am Miwah. Hawkins cherry picked the choicest properties in Indonesia when no one else cared; there are enough properties within EAS to comprise five or six VERY attractive juniors.
Then, it is to laugh, "Sprott jumped the gun again with 18 mil pp."
You CAN'T be serious... Sprott only bought 0.4mm shares in this PP; another fund took down the other 2.1mm shares. But Sprott did take all they could without exceeding the magic 20% ownership threshold.
Second, you apparently have no idea how Sprott accumulated their huge hoard of shares in the first place (before this PP)... They bought them in the open market around $1 to $4, starting last Summer and ending around January. Was that what you meant by their "jumping the gun"? Are you kidding? Every resource fund in the world would LOVE to have their holding, ESPECIALLY since it's already up 2-5 times their initial investment.
Hawkins was able to pull of this PP with no fees, warrants, or any costs whatsoever, because so many big boys WANTED IN. He didn't need a broker to do a deal, because the big boys know what he's got.
Now, could it get cheaper in the immediate future? Sure. Who knows? It might. But if it does, it won't be for the reasons you so blithely gave. |
