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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@staffpro@rorpan to pay bills? :D if anything this free publicity accelerated whatever was going to happen over months, better to get a decline over with than to grind down 1-2 cents/2 weeks for 10 months - we should be on market call WEEKLY
@HRA-Coffin@StaffPro - I'd say there were more people selling than buying. Not a wonderful set of holes and, obviously, Brent weighing in on BNN didn't help. Brent and Joe are good friends of mine whom I respect but Brent does get a bit over the top on the negativity sometimes. I know he's never seen the full data package as he doesn't have one. I went through a screen share session with Ian the other day. The best "looking" holes are the most recent ones that are in the lab now. Remember though that this is a gold project so "best looking" and four bucks gets you a latte. Its assays that count. He's hoping to get those fast as those holes were rushed and the lab is in Timmins and is promising quick turnaround. I also note that some of the holes drilled on the new geophysical targets also looked good but didn't have much in them. He drilled those first and part of the reason the first drill update was so late was that they drilled several deep holes on these geophysical targets (mostly well away from areas being drilled now) and those didn't work out. The drilling has moved back to targets they know better and have more comfort with so I'm hoping we'll see both better results and faster results. (FYI @ted - you're making assumptions you shouldn't make without a proper update from Ian - you should make a point of getting one). Brent is dismissive of the resource and, yes, its low grade, but Brent was dismissive of a couple of other resources in deals I followed that were taken out at good premiums. He's not right all the time. $ME
@staffpro@rocketRed it doesn't matter at this point nothing with the story changed still a huge deposit, which has potential to expand,now priced at 7$ US/oz with imminent drill results who cares if it's 2-3-4-6 months from now, and fully funded for this year and maybe next. No one is in juniors to make less than 100% or waste of time. The last move i think we are just a victim of lower liquidity here.
@staffpro@criticalInvestor@HRA-Coffin what are the chances or in your discussions with Ian is the goal here eventually to drill the existing resource to prove there is some high grade in there in order to two tier the project high grade first then low grade , long mine life and lower initial capex? - i'm assuming this would all have to be formally announced in an updated NR/PEA?
@CriticalInvestor@staffpro I didn't get the impression he saw possibilities in that direction, but he was looking to convert most Inferred into Indicated as they already did most drilling for that. I think he first wants to explore his targets before he thinks about formally updating economics.
@staffpro@anomalloy optionality play valued at something like 5-6$/oz in the ground , the current CEO is doing a PEA to prove vastly improved economics with a much lower capex by exploiting a relativly higher grade area as the first pit to fund capex of a second pit, with a very long mine life. Alot of $ has already been spent on this property and also some high profile shareholders like Jim Rogers. It's a spec play for me.
@staffpro@vaughan ya i don't know what to say gold up 20$ for example and something like barrick was much lower risk and is up and pays a freaking dividend but something like #me is down and in fact no one is trading it+
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@staffprois this where the term "TSXv zombie" comes from?