Re: Just Remember
in response to
by
posted on
Feb 24, 2011 12:28PM
New Discovery Resulting in a 20KM Mineralized Gold Belt
Great post Hoov.
And as for me, I'm still here and still hold too many shares in a junior gold stock. :)
I'm the same as Hoov in that all of my posts still stand on record and quite honestly I was beginning to get sick of listening to myself going over the same things again and again. My DD has been done on every level of this stock. I haven't met Zurowski yet, that's probably my only space I want to fill.
The last set of results didn't meet my expectations but that's partly my own fault because my expectations were too high. I expected shorter intercepts but I was hoping for at least a couple of significant hits, just to please the market.
Tilsley's theory that this is deposit was created hydraulic fracturing still stands. It's a rare, large and significant geological event. The geochem tells us there is gold that covers a 20km belt. The drill tells us there are tiny of pieces of gold over at least a 7km belt. The drill also tells us to close up shop and go elsewhere.
Therein lies the rub. If the drill told us there was a HUGE deposit here, it would have been mined already. The fact it doesn't IS the opportunity.
I find the SP to be a derviative of shareholder sentiment. The potential size of this thing is limitless so I can see why we've had large run-ups and now fallen flat on our faces. I've felt like a genius and a turd yet the drill still turns and has given us a mixed bag of results, which is what I have always known we would get.
It's not an easy deposit to bring to market and frankly we are probably more fairly valued now than we were at our last PP given the information available.
It would be really good for GNH to get some real value associated to their company. They have assembled a team that can do this and if I have to extend my faith in their ability (yet again...it's been worn fairly thin) then I think that is what their intention is for 2011.
The silver lining in the low share price is that there could be a regenesis of sorts. If their geos can start extrapolating all of the information they have and sign their names on news that shows this as a tonnage play, perhaps we'll bring some more institutional buyers to the table other than Mineralfields and Dominick and Senvest.
I don't want to come off as eternally positive on GNH, because I'm not. I see a lot of really incredible things here, and I see that they are impossible to see via the drill...which is the only way the market looks at things. I'm virtually a nobody in the mining space but I am relying on common business sense here. This thing may never come to be, but if it doesn't I personally don't think it will be because the gold wasn't in the ground.
As some may recall I brought a personal friend who is a senior VP at GMP to the site. Their top analysts met with GNH in Toronto. It's fair to say the GMP is the head of the class in this space. At the time, there was not enough information for them although they liked Frank, JT and the project. The pieces of the puzzle need to be brought together in a way that is more conventional, that is the way Bay St works. GNH have told us that is what they are intending to do.
There is something here. If the bulk sample comes back ok then we are looking at something that 'looks like' it has hit critical mass already. It should be an easier sell to get the $$ required to prove it out after that point, as opposed to being the only player in a lonely place right now....Southern Quebec.
And lets not forget that this company only spends money, it does not make money. It's a risky place to be so I hope people are comfortable with their investments. I've had some wild swings of net worth with this and do not lose sleep over it and others lose a few thou and have a coronary.