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Mixed reactions. The trenching work is quite encouraging. We still don't know the exact metallurgy, nor the true size/delineation of the orebody. My guess is that we will eventually prove up a deposit of 2-5 million ounces, but at what price in $US per ounce we do not yet know. Again a guess, it will be about $200 (excluding capital costs), but I am not a geologist. As well, GHE needs a major, as everyone knows, to develop the area, as to my knowledge, GHE cannot tap into any existing local mills/facilities to extract the gold. As the majors write off high producing properties on their earnings statements (due to low gold prices), they do not have alot of money available for this sort of enterprise right now, unless of course GHE is forced to give away the farm to finance further drilling activities. This is hurting GHE. On top of this, juniors have very little credibility in 1997, for reasons that anyone even remotely involved in gold mining is aware of, plus alot of year-end tax selling is occurring right now. I, however, remain positive about GHE. If the "herd" keeps the GHE share price anywhere below 50 cents, as of the first week of December, I will be loading up. I hope this helps. Regards. |
