In my last post I asked, "Anyway, Skel´s idea of a higher valuation following a positive FS (my words) with production closer to the horizon is an exciting one. One that I believe Greg Taylor and many of us embrace. But is it inevitable, or even historically correct?"

Ok, I guess it´s a silly question, since we know what happened to Romarco Minerals´ share price following its 2009 Feasibility Study, i.e., it went from about 12 cents to almost 2 bucks in about a year and a half. Not only did they have a very positive FS, but they then also raised $25m at about 32 cents/share that allowed them to increase their rig count to 3-4 and, with good drill results, they vastly increased their resources during that run up to the $2 range, as I recall.

Back then, they were aiming for production in 2012. Well, that´s not going to happen with the EPA asking for more info., they´re now hoping for production in 2013?.

So, maybe I answered my own question with Romarco as an example of what may happen to an explorer´s share price following a positive FS. Where the example becomes even more interesting is what happened to Romarco´s SP following its recent delay in permitting. It went from above $2 to below one dollar this year.