Re: A thought about RN in retro.
posted on
Feb 07, 2009 05:39AM
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)
Some good points Miskealp and everyone.
Windfall is not dead IMHO. I believe it is still viable and has a lot of worth. A poster noted previously that he could name several who would want a crack at the gold at Windfall. Its all over but difficult to mine. It will probably wind up open pit sometime down the road. You don't come up with the best gold hit ever in Canada and then toss it out. I don't care who you are. Watch how significant Windfall suddenly becomes when/if gold hits 1500 bucks!! It will too.
As for the jvs I think they were a masterful stroke by Nemis. They made a take out difficult. That is why the others hate them. They want them back. They hope and prey that these plays can't fulfill their financial obligations. If the play can't then NOT gets the property back.
Well it would appear that Mr. Nemis, who has lost a company before through a take out, has written up an insurance policy for himself by jv with close trusted friends. Now he can approach them with his new company and move in with the cash. IMHO very soon he might be holding a nice chunk of property in the ROF again. How many plays are out there that Nemis jv'd with and have no cash? I don't know but I bet Nemis does. IMHO this BoD will be dealing with him again and I think he just might make them pay!!!! I know i would. Now if the economy hadn't tanked all of these plays would be drilling as per Richard's plan and things would be getting done in a more timely fashion.
So all of these reasons being listed are nothing more that smoke screens to excuse the move or attempted take over. I put no store in any of them.
I'm sure we all agree that there were some mistakes made in the past but the main plan was great.
They also mentioned the burn rate. Its funny because this BoD from what I can gather has been doing exactly what Nemis was doing. They are moving around and driling. They were above FWR. They were near AT12 again near the FWR boundary drilling. The only difference is that the fuel is cheaper. Much cheaper.
All this drilling and we still have no results. FWR gets result out no problem. Where are ours here?????
The BoD hits under E1 and then stop drilling. WTF is that all about? Should they not concentrate their efforts on that underlying anomaly to find out exactly how much is there? Are they afraid the sp might spike if we found out the anomaly was twice the size of E1, or is it the opposite?
The opposite being that if they drill too much they might find it is tiny and tiny does not fit into their plans for a quick sale?
Better to leave the anomaly under E1 alone????? I just don't know. My knowldege is limited regarding this issue. I have heard of the term "over drilling". I hope this is NOT the case here.
I would ask that the BoD, instead of wasting money the way they said Nemis was, get back to E1 and turn the area into swiss cheese so we could find out what exactly is under E1 and get rid of this mumbo jumbo talk like the term intriguing etc... what kind of talk is that anyway?
Don