Hi, Let us try to make sense of what is known, assuming that management is honest and that information released so far reflects reality. Here is a plausible scenario
The samples had already been collected in October. Results on those samples were not conclusive (impossible to get a proven reserves estimate from those, covering or not a small part of the property), so, in the end, more samples are needed if they want to publish a report with at least SOME proven reserves.
We must never forget that so far, nobody ever claimed that there were economically exploitable gold deposits. Indicated reserves and inferred reserves do not count, they only indicate that it is worth exploring further, that there seems to be potential. In the end, it is still possible that, even though the site may contain one hundred million ounces or more, none of it can be economically extracted and treated.
I bought Golden eagle with that possibility in mind and no information ruled it out yet, although I truly hope that the coming report will rule that one out.
Michel |
