The only meaningful successes in the region thus far... are Trelawney having been bought out by IAG (in a fabulously over-priced deal that had Trelawney holders make out big time) and Probe recently being bought out by Goldcorp... following which the news on Borden Lake has become "thin" in quantity and quality, the latest saying the focus is now infill drilling designed to convert already known resources to reserves, as here: goldcorp.com
Meanwhile, Goldcorp has gone on a major lease acquisition binge... acquiring massive new acreages all around and to the north of their new Borden Lake property, all the way up to and beyond Lake Nemegosenda... following the known fault structures...
And, while both of those instances are occurrences "on trend" with Shining Tree, they share common geology in terms of proximity to the known gold bearing fault structures in the region more than they are a part of the Shining Tree camp, proper...
It is still highly likely that Shining Tree will prove out to be a major "new" gold camp... however, given the market trends in place now, the pace at which that is likely to be proven meaningful is likely to be "glacial" at best...
Those that have approached the area with a focus on acquiring a tightly focused and well integrated lease package containing known high value potentials... appear to have faired vastly better than those which have focused instead on acquiring larger scale leases on all the real estate they could, hoping to get lucky, somehow, in having something be found on what they happened to own... although, they've not shown much ability to look, much less to find anything themselves. The poster child for that obviously failed approach... has to be Adroit Resources, which has proven much less than adroit... I don't disagree with their view of "potential" in the large regional lease package they assembled... but, they had no viable plan to advance any of that potential with exploration efforts...
Perhaps the most disappointing effort... since they otherwise appeared to be "doing it right" with a focus on high value potentials paired with an effort that appeared to be succeeding in advancing meaningful exploration work... has to be SGX Resources. The only apparent difference... albeit an obviously major one... between a Trelawney or a Probe and SGX... is that SGX has clearly failed to adequately develop proper awareness of a high probability TARGET ZONE that was sufficiently enough explored to attract others interest.
And, now, they're being left essentially twisting in the wind with a "can't get there from here" dependency built into the capital structure. |
