Pretty amazing that with days left before BFS time people are selling. This indicates no confidence by the market. When the FS drops it may not make a splash. It should go up but probably slowly. People need time to gain confidence. This could be a result of too much talk about a pre BFS take out that is coming very late. Since it hasn't happened yet some are exiting for shinier stars. They will try jump back in on positive signs in the momentum. That could lead to a crowd on FS day but it's also possible retail may come slow since there's no indications by the company of its expectations. This late in the game why would there be.
What should be coming right away is coverage. We need talking heads to feed the rabble. No hype just the facts. It's been a very long time coming. A disjointed blurb here and there is tough to swallow. It's understandable that IR wants to have the bird in hand before making major moves. Then they are not hyping but pushing the facts. The corporate walk is probably the right path in this uncertain market. With luck we won't even need it. The really big guys don't read about projects from news feeds.
The company can't be bothered with the sp. What can you do when the retail has evaporated? So it seems we are in this for the big picture and sp be damned. It will have nothing to do with the price. The about face from Hey we're gonna buy in the USA to Hey, look what we found is good. I'd rather see our efforts put to work here.
The the BFS drops and nothing sp wise happens. Then Mira and the last assays are digested along with it. Drilling resumes. The company considers a second resource estimate. 2 more years of good potential is considered. The JV talks begin. Mean while, the company continues to shop for mid term projects. At this point other players start to visit the deposit one last time. I would expect talks between Teck and others to intensify here. At anytime now before the 120 days is up thiere should be a decision between majors as to how this gets carved up. I would also expect Kinora or some smaller copper co to be interested in some of our other properties. I still think that somewhere around here Royal Gold and possible Barrick make their appearances. Somewhere close to the end of the 120 days the announcement comes. Retail gets caught off guard because there's no news.
It will simply be a case of the info is out there but nobody is listening. All it would take is for 1 guy like Cook to say he thinks there's a take over coming and the money would rush to the door. Will that happen? Perhaps.
