Agreed. Is it because management of juniors in general are greedy or are they too "old school". By "old school" I mean drill, dilute, drill dilute, etc. until they can produce an official reserve number.
GORO said forget drilling and diluting. They knew the resource exists and they went for it. GORO has the grades and might be producing at zero cash cost. Also, I think their exploration upside is tremendous and they are already talking about upgrading the mill. in addition, it is easy to give a third back when managment are large shareholders.
GL
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