Considering the sheer numbers of Explorers, developers and miners staking and drilling in the Golden Triangle of BC, its not surprising we have not heard more, as the drilling is just getting underway. No doubt the leader in progress and grade is PVG who just had a nice Range-Breaker move. Sustain this move and it will be a great signal. This is a signal
that is higher than any in the preceding 8 weeks, so if it can close up strong 3 days in a row, we will consider calling it the beginning of a TREND.
Known best for its Nickle Mtn Discovery, Garibaldi Resources and its cousin, Metallis are starting their drill campaigns to identify and outline their reserves. These guys are the Whales amongst the explorers in the Golden Triangle. No news yet, too early as winter in the mountains has just subsided enough to get the drill rigs moving to their sites.
So from whales to minnows, you have a serious staking rush, option activity with companies the size of Tudor Gold, or Braxton Metals sticking their toes in the water, swimming with the whales, and jumping on any announcement or development in the area. Other players like Colorado Resources have some serious stakes in this area.
Even the biggies in here have seen the Exploration Euphoria take their stocks up, and then when the adrenaline drained away, watched their stocks drop by 2/3’s and CXO is in that crew.
Bottom line here is Eric Spout and his entourage have put a lot of money in both GGI and MTS, and helped GGI raise $10,000,000 for its exploiting its development of this discovery, and NTS to a smaller extent. Not that smaller companies can’t cut it here, not at all. GGI was a minnow before Nickle Mtn. This is the mining business where most of the time, more money is put into the ground than is taken out of it, in so many cases. And the other caveat is that the opposite happens enough to keep the investment capital flowing to them.
Side note is that the rumor is that there is a lot of physical gold accumulation going on, rather than the constant paper shuffling of contracts, KRIMEX Style by the Boyz, and if this were true, given typical skullduggery, I’d suspect the funds were partially coming out of the stocks in this sector, which would account for the languishing of all but the most senior of the gold miners, typically listed in the $XAU Index.