HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

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)

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Message: concerning Micon

"Now we are drilling it anticipating good results,how will the market react."

Well that depends on the news. One thing that we can depend on is that they will continue to undervalue us until ordinary Joe on the street starts to take notice, then all hell could go loose.
When will Joe take notice? When a Big Cap says 'Enough, I want it'.

A while back I thought that the feasibility study was already under way, that it would be out soon and that it was of a preliminary type to aid future financings. Now we know that they are going full bore on the feasibility. So yes, much more time and money. Finally not to expect it for a long while.

I suspect the rare iums ( Rhodium etc.) assays to be not available until summer, so no help there for a while also.

So what news?
JJJ assays, yes they could be out any time but I do not expect anything spectacular but just plain economical grades that will need to be further drilled to prove quantity. I have no clues as of now that this resource has spectacular potential.

Better potential with AT12.
But with only one drill working on site the potential for a surprise increase in resource is small. So I do not expect much there other than perhaps some good to great grades.

That leaves the Eagle with the Big Drill.
Yes, this could be big and I Suspect Big.

The presently known Eagle's resource did not materialize out ot thin air, it came from the bottom. So it has to continue. The question is how wide is it at depth and if our geologists were successful at pin pointing the possible route it took from the bottom.
Whether on the first deep drill or the next, they will find the source. Yes, I believe it continues with depth. I have no cause to believe otherwise and plenty to have hope.
I also expect the deeper ore to be as good or better than what we already discovered in the known shallower depths.
We have seen how the market reacted, though late ( it took someone to wake up), to the hole 49 news.

Well much the same could happen with the big drill results except that this time expect that there will not be a delay in reacting to the news and if it happens it will not be to similar prices experienced then. We have a larger expected, known and proven resource. We also are more in the public eye.
Expect a spike to at least that 7$ high of a few years ago and probably much higher. Also expect a retraction from that high in a few days, so take a few profits when you think it has reached near peak to buy back later. I go by the euphemism of - Never all or nothing.

This is a statement of strategy and prognostication by Ed. I am part of the market, nothing carved in stone, cheers.

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