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Re: explorationguy / reality

posted on Jul 14, 09 09:32PM

I looked at some of area players to see if there were any examples of what to expect for length of time from drilling to reporting results. Ontex is due south of Hercules and started a drill program in late March. They reported results July 9( including a ten day break in drilling activity). That's approximately 3 months to report assay results from 5,000 meters ( 1/3 of expected drill program ) from 10 holes. Kodiak announced resumption of drilling May 25 so it's looking like later August before we can expect results. They may release sooner if they use less wells in each batch. I also noticed Ontex has a 43-101 resource estimate so I calculated the Baring's value to compare it with the market cap. I used the cut grade values ( you have to search to find them) which give 612k oz of indicated and inferred gold. That gives a 10 % Baring's value ( $ 90/oz) of about $ 55 mil , compared to their market cap of $ 25 mil if my math is correct. I don't own any and don't know if they have other issues but it suggests the market spotlight is not yet shining on the BG gold play . Ontex investor's are having their pain threshold tested by the market even though they too have an open depth and strike extent.

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Kodiak has been using this news service to release its news releases ..so you can check here or monitor this site to get the releases.. read more