Re: Question/PM - Don/Joe/PMt
in response to
by
posted on
Apr 26, 2008 06:13AM
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
It appears that you have addressed your message to me.
First of all let me qualify by saying I knew as much as you until the NR came out.
When I read it, I was disappointed. It was not the NR I was expecting. I was waiting for a DE Windfall split, tsx listing and yes core results.
I reread the Nr and came to the conclusion that it is one of the best we could get. It shows the world that NOT management is truly on the up and up. They caught this before anything was registered. All previous results stand.
My concern was how the markets would take it. How would NOT hold up? It got knocked down but held and inched its way back up. This told me that the market has accepted the NR and excepts what is in it.
You may think they should have told us sooner but don't you think they were not brainstorming, investigating etc?? This is a very big deal. A Lab's reputation is ruined. It will take years for them to recover. The only thing this lab has going for it now it the fact that indirectly the ROF and therefore NOT will keep them busy if there is anything left of it when the dust settles simply becaause of the shear number of core that will be shooting out of the ROF.
Nemis is not going to do something like this without investigating first. Now I understand why he was so uncommunicative. He has a lot on his mind and probably best that he didn't communicate.
Remember 2 bags in 20 are duds or dummy bags the company randomly sends in with the orders. It was the return of the results of a dummy bag that alerted them to the problem. As it turns out some of the equipment was out of calibration. I was told and mentioned earlier in another post that these calibrations need to be tested frequently. It was explained to me like a Diabetic Test Kit. Each has a clear fluid used to test the accuracy of the tester. This is not the fault of the equipment but the fault of the management and consequently, the whole company!
I also appreciate the fact that the NOT management arranged an alternate route for our core through Act in Thunder Bay. For a lousy 200 grand we will very soon be having a turn around time that we won't be able to keep up with. Thunder Bay, and the higher learning institutes are taking this very seriously so we will wind up with the "cream of the crop" from our schools doing work just for us.
There are so many good aspects to this NR and unfortunate incident that I could go on and on re the virtues and positive spin offs this will and is bringing.
By the way, I wouldn't be surprised if other labs were not doing a little checking as well.......
I'm sorry that some lost their shares but if they owned shares, they have probably read this board. If they read this board they would not have sold. Who on our board lost their shares? I don't want to hear about stop losses. Thats their own fault.
I bought more shares. I won't tell you what all I had to sell to get the cash but suffice to say I have fewer plays to watch today....:)
I hope everyone has a relaxing week end. Your money could not be in better hands.JMHO......Don