a handholding post
in response to
by
posted on
May 14, 2010 01:30PM
Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.
This is a handholding post with no new data for the weekend.
I’m confused on when the summer doldrums are suppose to occur.It certainly doesn’t apply to us. Lack of information usually results from folks who have made the phone calls but have info too sensitive to disclose in posts, there is simply no information revealed because the CEO doesn’t want to disclose info, or there is no activity to generate info. The latter is untrue as Smith is very active in at least 3 of his properties. Since the latter doesn’t apply, that leaves only with: holding of info before the storm - like buckling into a rollercoaster before the announcer says, “enjoy the ride.” Several sources have confirmed a NR next week about updates, don’t expect it to be too revealing as assays won’t be back for a while and Smith said he’s not going to report visuals. He learned that lesson last time, when assays revealed massive nickel, and visuals didn’t. I’m trying to convince him to hold our hand a little and talk about Magpie, but he said one doesn’t do that when in the middle of talks. That gets my pulse going a little.
Regarding Magpie Leaks, the only info we have is what Peter has allowed to leak. There are no drillers or lab folks to start leaks. We aren't dealing with Canadian or US companies whom we have more access to solicit data. So since Peter isn't talking and unless anyone has penetrated S.E Asian companies or forums, a deal will be revealed at our CEO's whim.
At the same time, peter offered platitudes that we will be “happy” just have patience. It is difficult to exercise patience with lack of data. Certainly a Magpie NR would allow us to be patient with the other properties. Peter distracted the conversation by getting excited about the other properties outside McFauld’s. But I redirected, many investors won't be content until you put money in our pockets. He said he is well aware of this and feels under siege at the moment from the investors.
My thought is it is good that a CEO feels pressure from investors to make money, and we should probably continue to apply pressure, encouraging him to not be distracted by new opportunities until he closes a deal with current opportunities. I’ll leave it at this, Peter is very excited about Mcfaulds and Magpie, which is very different from past conversations with him, where Beauce and Chm occupied his energy.
Until Peter chooses to leak something, we will have to content ourselves with the fact that Magpie has energy, Smith, Pat, and Groome are proactive and not passive, and Smith is actively pursuing his McFauld's theory with drills. Until we get money in our accounts, what more can we ask of our CEO, except a little handholding.
And what type of handholding would you want to hang your dreams on? He suggested a $5 per share for Magpie minimum. But as we saw from FWR, that type of handholding means nothing. Close the Magpie deal, find the Nickel, and get me money!
Also be grateful our SP isn't being toyed with. Rago1 and Hoov had a nice little discussion going on NOT site. I'd be curious to have a transcript of a GEO conversation between Hoov and Smith. It never hurts a CEO to have multiple perspectives. Also, I'm impressed at how much I wrote with no new data to write about. Great weekend and buckle up for next week, I get to say this now as I increased my postion this week so I'm ready for the ride. For those too shy, don't be, make the phone calls today.
- stockgreed