Seabridge Gold (SEA.to) (SA) is a very special company, as only this dog is able to make Nadagold (NG) properties look comparatively economic. The PEA is out on its large KSm property today and what we're led to believe by these scamsters is that spending U$3.365Bn (with a 'B') on a gold mine that projects an IRR of 8.8% at $900/oz Au is a jolly sensible idea. The world has gone mad. This is mass hypnosis.
As for Gammon Gold (GAM.to), Brian Quast of CIBC came out with an all-time classic line this morning in his analysis of results that sees him dropping his target heavily on the company. Brian sez:
As for Gammon Gold (GAM.to), Brian Quast of CIBC came out with an all-time classic line this morning in his analysis of results that sees him dropping his target heavily on the company. Brian sez:
During 2009, most drilling was focused on the Ocampo pit. Unfortunately, this resulted in a significant decrease in reserves and resources by reducing the tonnage and grade in the pit, despite using a higher gold price. This has shrunk the pit outline and reduced the mine life.Or put into normal English, "These GAM dudes have been bullshitting the market forever about the quality of resource at Ocampo, but now that it's been drilled out we know it's a PoS".