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Message: Re: wow
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Apr 24, 2014 12:04AM
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Apr 24, 2014 01:34AM
Well, financing is a given. It will prevent PRB from getting into a process where they are spending on drilling....4.50 and 6.00 bucks just a guess....nice thing about the new trading range is you can finance enough without sacrificing to much dilution. As for official number or holes I have good info from 2 sources....28 to 28. I have been wrong before...but they would have had to go deep...note the gold dips from 1650 SE every 100 meters adds about 50 meters to depth. I hypothesize they needed to go 600 meters to 800 meters at 2600 SE. This is where they ended up. 8 drills required for long deep holes. I am pretty confident they had to go deep...and like I have always maintained they need to cement in behind their drilling efforts. We could get surprised with a lot more holes....because 8 drills for 5 to 6 weeks should generate 48 at a hole a week. It is this lack of clarity that makes it interesting. I gave up talking to IR about 8 months ago. Dave and the board only tell Karen want they want her to say on the phone. I had to ask why the halt on rec....and Karen didn't know ( this was genuine ). I figured they were brushing up the deal. Dave P gave rec a cut suggesting the final 30 % would be better then a proximity buyout. Why, you ask, well REC is broke...to easy a target and this way they will end up better off with PRB doing all the work and riding their shares. This is my opinion. If I was to finance I would do it now and I would be at 4.50 make sure the value is realized. To do a financing at 3 bucks is silly. Again, financing is probably just like the AEG deal and BMO deal no one else got in and the announcement was quick and decisive. Next time around same thing. Just an opinion. PRB is already a resource with 4.3 million ounces pit constrained....we should finish above 8 million ounces. With an in place financing to give them about 120 million in the bank they can ride it out with 4 to 6 drills spinning Wherever they want them to spin , complete the 43 101, and PEA. Very few mines with greater than 10,000,000 ounces in the world. PRB is just getting started. East limb and REC might host gold too. Biotech guy put link out a couple of weeks ago on stockhouse showing worldwide the mines etc that operate. Note how gold is rescued to 1300 plus or minus a few bucks. Below 1200 50 % of the mines will go on M and R. So keep just keep enough gold in the market to fulfill coinage requirements and a bit of bullion. If Germany says enough is enough no more BS just shipp our gold back ... And they send 20 jumbo jet transport planes to the U.S for pick up...gold will spike...u.s. dollar will crater and china will be rich overnight. By the way it's about 685 tons or 28 cubic meters of gold. Not a lot of space to take up. Typical living room. As for me the minute someone calls out the u.s. you better be in gold. Again, just an opinion.
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