Mining Company research board

[rbtree]

What do you guys think about this post? I disagree, and also wonder if he has his historical facts about GORO right...claiming that they went into production without proving up reserves.....

iFYI, GORO soared to $30 a share in the Spring of 2011, all the time not having any proven reserves. They didn't actually formally report on proven & probable reserves until 3 years later in the Spring of 2014 when the stock had already dropped to under $5 a share.

Proven & probable reserves is an over-rated benchmark for a mining company to get into production. It does carry more value once production has started and being ramped up. But IMO it is a waste of time and money to formally prove out your deposits prior to production. Yes, do your exploration and know that you have an economically viable deposit. But that is all that is needed.

GORO was spectacularly successful with this approach and I believe MXSG will be even more successful.