I won't be shocked if they are two weeks late. They will say it's the silver. You want the silver, it'll take just a bit longer. It's only been a bit over a year and it's still not resolved. This time around when they say "no silver for you", Elmer will have to get a ruling. We won't hear about it until it's approved. If it's not approved we will not be told. I doubt the delay will actually be due to the silver. I think they want to hold up the RE for specific reasons. I also know it doesn't take 8 months to do the legal on land claims. Last years legal cost were too high for the activities and I suspect the financials for this quarter will be even higher with respect to the legal fees.
We have several reports coming for the global markets. They will be ok but not stellar. This will be combined with the inactivity coming out of th EU and the drum beat from the talking heads will be about how bad things are going to get. Combine it all together with the May go away and we should see our price stay where it is for another couple of months. The RE probably won't move the sp much because investors are waiting for the big picture. A fund guy I spoke to said there's not enough shares for any funds to get involved. He said there simply isn't enough elbow room at the table. They would only look at a big finance deal. He also said this is why we have no coverage. Also, it's unlikely that Teck would allow an outsider in. So it appears they have it all worked out.
Shortly before the the string of news, including the RE, we should see a bit of buying. People who I consider experts suggest the plan by CUU is not enough for a company who is headed for a 2.0. I thought this was the right strategy but I'm being told no. There is a balance between the broad search using aerials and the number of drills. So we do the broad search first then run out there with a drill and poke 2 holes. Instead, it's been suggested that we do the aerials completely and then go in with 4-5 drill and poke a bunch of 200 meter holes laddering into the potential deposits. Elmer appears to be combining stages and I suspect that's because of the quality of the drillers and who's available. It's been suggested that that should not be an issue. Elmer's method may expose us to delays caused by the labs but it would give us a more continuous NR feed.
Oh, ya. Should we release the RE in the worst possible month? Umm, that's got people scratching their heads. So that explains why it should be delayed. Yes, the lesser Generals out there do fear the market timing but not our fearless Elmer. Is it a question of confidence? 20 mil to focus on Tecks properties is ok. This is what Teck is willing to approve so ok, fine by me. So what about some money for our own lands? Well, that would be silly. Spend Teck's money. Just spend more of it. I hoped to see a 30 mil program. That would really cover the most important parts of our contract fully. But since that's all we have in the kitty might as well spend just that. How much is too much? About 40 mil.
Keep in mind that for last year's expenses we got an addition 3 billion in the ground. Most of it is economical. A repeat this year would set the bar very very high. A long time back I said we'd find over 3 SCs worth and it does look like we will. So while we wait, Elmer can give us some pretty pictures. I would much rather wait for some quality news than have them rush anything. I think when the overly conservative Elmer gets the first pictures back he might just change his tune on the expenses and go look for a major funding.
