Re: Somebody has to say this,,,
in response to
by
posted on
Jan 24, 2009 07:06AM
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)
First off, Shakey; I hear you, as do most here. I have watched my portfolio go from, say a 5 all the way to fifteen in the last 5 years. I then got to watch it go all the way down to a 3. However it is back up to almost a 5 again, so although I am still a bagholder (and this is for my complete folio), it is going in the right direction again. I would imagine everyone has experienced the same, unless they were smart enough to have seen this coming and sold. But if they did they are not here anyway, so they don't count.
Second off, the news is news is news and can be taken in any context you choose. Whether it is good or bad depends on that context.
Take the chrome news for example; 85% of that chrome meets the minimum grade to be mineable, and the fact that there is such a width will make it all mineable. The value has not started to accumulate for the chrome at this point as there is simply not enough "PROVEN" up. That time will come, and I expect it will not be long. The powers that be seem to think so as they are going to concentrate on it with two drills for the rest of the winter.
Now look at Eagle1. You state it in such a way as to say they found nickel in1 hole but missed on the next 10. That is not so. I see it as they drilled 11 holes trying to find an extension of Eagle1, and found it on the 9th hole. That hole returned assays as good as any they found previously at Eagle1. Compare it to Voisey's, where after the first hit, they drilled 60 holes before striking again.
We are in the midst of a huge melt down in the markets. My portfolio is spread amongst several; mining, oil & gas, income funds, junior and senior markets. A little bit in each of them and they have all crashed. I have often spent hours pondering what to pull out of where and put it where and have definately concluded that there simply is no other play that offers as much upside as our ROF.
I am off to a flight to Vancouver for this show. Hope to get some reassurance there.
Regards
K