Re: Don´t get confused.
in response to
by
posted on
Jun 09, 2010 10:03AM
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)
Iamsudbury, you are far from being alone in your opinions. Believe me or not, I mostly share them. However like you, I express opinions when I suspect people miss a particular point or get side tracked. We contrubute our opinions and the sum total is what matters and not us as individuals.
To that end, the blockade did hurt us a lot but having ended I expected the sp to pop back up, but not much happened.
The fact that we lost four months of drilling time bears not on whether a feasibility study should be done. What matters is whether there is enough resource defined with a fair amount of confidence to justify a study. Obviously the management feels that is so and I am in no position to argue that point.
Shortly after hole 49's results came out, I said fairly confidently that Eagle would be a mine some day. We now have three times the resource and possibility for at least a further doubling due to deep drilling, not accounting in-fills. So yes, we need a study done. The study is not so much for us retail investors but more for future planning and financings of the company. Financiers live by resource reports and feasibility studies.
Finally, it is not sufficient for a BofD to do things, they need to state their plans and if they change them to restate and almost as important for them to explain their changes of direction to the shareholder. Buying or selling shares should not be all there is to expressing our confidence or lack of in the administration. There should be a two way communication between management and investor. Mind you that may exist with a few funds that may have influence on management but the lonely retailer is out on the side lines collecting bread crumbs.