They have drill targets in Windjammer but also along the 8km stretch
of untested volcanics to the west of the 4.3MM resource.
The drill targets along this stretch are very prospective because
higher grades (ableit less continuous) are typically found in volcanics.
Some promising holes along this stretch can quickly change the
trajectory of this stock...a trajectory which I already think
is very positive.
The company would like to raise money to start the drilling, but at
the right price, not any price, so as to prevent excessive dilution.
Doing so shouldn't be a problem if gold continues to show strength.
The next part of the post is only my opinion:
There's a chance that moneta may be acquired before the capital is
raised and drilling commences.
Whoever is going to buy this company has been watching it closely and
likely doesn't want the shareprice to pop because of promising drill
results.
They'd likely want to scoop it up before drilling happens and/or
before gold makes another $100/oz run...which many think may
happen this fall.
As a shareholder, I would prefer not to get bought out before
the drilling program is complete and gold approaches approaches
$1400/oz because if both happen, the buyout will be based
on a higher ME shareprice.
Read more at http://www.stockhouse.com/companies/bullboard/t.me/moneta-porcupine-mines-inc#A6LF7QlGXZo0xfwt.99
by opfreeme
- God Bless -
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