We alerted you to the Goldplay (V.GPLY) Webinar which took place today. I attended and Marcio Fonseca and Trevor Woolfe gave an excellent presentation.
The key take away from the Webinar is that Goldplay plans to release a 43-101 compliant resource estimate on its work at San Marcial in Mexico. The company has drilled a 500 meter section of a 3.5 kilometer zone and has had very encouraging results. Now they are ready to put those results into a maiden resource estimate.
I spoke briefly with Fonseca and, while he had to be careful not to let the resource cat out of the bag, he said, “We’ve used this area as a test. We’ve learned from it. Now when we see anomalies along the 3.5 kilometers we know what we are looking at.”
Fonseca is driving ahead towards a PEA based on a pitable resource.
To reach a maiden resource estimate only nine months into the project is very significant. It suggests that there is an interesting and highly prospective geology. But it also very strongly confirms Goldplay’s exploration competence.
Fonseca, as well as being a geologist, put in ten years as an analyst with an investment bank. He knows what a mine looks like geologically but he also understands the economics of the mining world.
Forseca summed it all up at the end of our call, “It’s a business.”