Aug. 26 at 10:11 PM
$SMOFF Looks like
$SMOFF to lock up the neighboring concessions BEFORE the Cerro Caliche project gets permitted.
Mgt has expanded the project again by acquiring 23 additional concessions covering 4,239 hectares. The Co says the current 50,000 meter drill prog is specifically testing whether the mineralizations extend to "net door" areas.
Mgt isn't spending
$5.2 M on adjacent ground blindly, imo. I would not be surprised to see prelim drilling results announced to show why the deliberate accumulation of concessions has happened.
If/when the permit is announced and the drill results confirm a much larger system, it will look very forward thinking to have already consolidated the surrounding concessions before the "value" of those concessions increase.
With the gold price going up, the already producing gold prices like
$EQX and
$ASM have rebounded. But junior miners approach permitting with updated PEA's like SMOFF have not rebounded...yet. But this is just one investor's opinion.
