Lets NOT lose focus
posted on
Oct 21, 2008 04:30PM
I just want to begin by thanking all the volunteers who have been working extremely hard to make sure that everyone is informed of this battle and to try and muster as much support as possible for our current team. I just want to begin by saying that all the shares that I have influence over have all voted for Richard and company.
Today I ran the entire spectrum of emotions when reading through the various press releases. I was extremely happy when I read the feasability release this morning which provided us with a conservative estimate of $3.60 per share for Eagle 1 alone. I was then quite dissappointed when reading the Windfall share and learning that they would essentially be ceasing operations for a few months as they wait and review all outstanding assay results. I was then a little scared and angry when I read about Crazydik's conversation with Mr. Irwin (thanks a million for asking the tough questions) and the many comments that he made including dumping his shares to drive the price down, Windfall is a bust and the Eagles and the Chrome story are worthless. This all made me question my investment and countless other peoples investment in this company. Had I missed something somewhere along the line?
I took a step back tonight and started running over the various parts to the story starting with Windfall since this is why I originally invested. Although the news wasn't barn burner this afternoon, they have still encountered visible gold, still have areas that were averaging 2 and 3 g/t and we are still waiting for the most relevant assays from the 100 zone. This project is not done by a long shot, just on hold for a few months. Remember we are getting $4 million back from the governement which must be reinvested at Windfall so we haven't seen the last of this one.
As for Eagle 1, well we already know that its worth at least $464 million and its open in both directions and at depth so the chances that we add to this deposit are extremely good. Eagle 2 has something but will take time to prove it up but the fact that we already know there is mineralization there just adds to the overall tonnage that can be mined along with the ore at Eagle 1.
Now we come to our Blackbirds. We have already hit world class grades over great distances and the fact that FWR, SPQ and FNC are now all hitting massive chrome as well bodes well for this entire area. A lot more drilling will need to take place in order to prove up this reserve but the initial results point to something extremely large. I have had several conversations with RN in the past and in each he mentioned that the majors are extremely interested in the chrome and not the nickel. If the majors are interested than I would seriously question Rosseau's opinion of the chrome being worthless.
I don't want to go assigning values to each and every project that we have on the go but the fact that Eagle 1 appears to be worth $3.60 alone just goes to show how undervalued we currently are. We still have so much going for us and we have to ask ourselves why Rosseau would go to all of this trouble and all of this expense if they think that all of our projects are "worthless". They know it, we know and Richard and company know it, This company is for real and we have the goods!!!
Keep on voting and million thanks to all those volunteers who keep fighting on the front lines, much appreciated!!
Deeter