Drills are turning on the tungsten. From what I've seen of the property and data it's looking much more like there's a good sized deposit there. Last year we were talking about them doing the mining to make the most of it. I spoke to them again and they are working on something big as I mentioned before. They are talking 650Kilos a ton. That would give them 130ft by 4ft by about 3000ft of high grade! That's close to $40 million worth and now they think it may be spread out over 3km by 10km. The 40M is a very rough guess due to the limited data. I hope we see some real big number this year. Now if CUU would cough up a 4 times multiple I'd be tempted to go in about $50k. Yes, this would be a long ways off whith permits and all but at the end of the day...
On a side note. Henning Mine, a private company, is activating crews here. They've know for decades that they have gold but never really knew how much. Obviously, they've figured out there's a lot more than they could see. This is turning out to be true for a lot of places in our district.
I also spoke to BGM. They are standing behind their data. I also believe there's no way they could fake the data. That would be years of fakery. So I'm staying put and will buy more as time goes on. Do I think this is over yet? NOOO, they will get raked hard over the coals. But even if the resource drops by half the company is still going to make fist fulls. As for Brent Cook. I don't think his statements were accurate and may have been on purpose. 1.7 million shares short? I've followed the drilling core by core. Yes, the stringers are thin so no, you can't selectively drill for them. Were the results capped? According to the company, YES. Did the report leave room for question? Yes. Was the methodology the right one? Perhaps. So maybe they have to alter the report to a less optimistic outlook, I'm fine with that. I've seen the gold and changing the number doesn't make it go away. I think we can make out like bandits after some more pain. I'm also not in deep enough that this would hurt but I'm thinking of increasing my stake. Worst case is the stock bottoms to 20 cents. If that happened I would take a huge risk. That would be just plain nuts. They are below the cash value right now. Production kicks in in about a month. 2-3 weeks from now the full report goes out. I asked them to publish something fairly comprehensive but not the whole document as those can be in the thousands of pages. They will do just that. Last, I find it hard to believe that Norman would come on board to commit fraud. The BoD is pretty robust and he just adds cred to it.
