Backlogged Assays
posted on
Aug 24, 2008 07:35AM
Historic Discovery Along Porcupine Destor Fault
Remember that there is a large backlog of unreported assays. I think we will see more reported in the coming week. The goal is to update the current resource estimate and new assays results will just serve to increase the number of ounces in the coming update.
Six drills turning and 4 new geologists logging and splitting core means that this backlog at the assay house is likely to increase which also means that we should have a steady flow of new assays results through the fall. They have engaged a assay house that has promised a faster turn-around, let's hope that they deliver on that promise.
I spoke with Harry Miller on Saturday and as always he was generous with information and friendly as always. He offered comments about the Sisters that are the vendors of the properties. They are fully onboard and becoming increasingly excited about the direction of work on their closely held property. They see the work that Harry and Fred Archibald are doing as the maturing of their fathers dream, the full development of the properties, not just the taking of the high-grade core. Harry said that they have indicated flexibility and will do what they can to see CFO deliver a world-class property to the market.
I live near San Francisco and encouraged Harry to come to the investor show that is being held here in November. He indicated that he would try to schedule a booth at this show. This would be a great opportunity for hub posters to gather, have a toast and cigar, and to hear the story first hand and ask questions of Harry and Fred (if Fred can afford to be off property). There ought to be lots to talk about, late Fall should be a good time for Clifton Star (lots of new assays) and juniors in general (if history holds).
IMO, with flexible vendors, multiple hundreds of thousand of ounces of recoverable gold in tailings and money in the mill/roaster buildings and other revenue generating opportunities on the properties, our share structure can remain tight and the value of our shares relatively undiluted. Good news should continue to flow for Clifton Star and we should be generously rewarded as investors.
My opinion only, not investment advice, do your own DD.