Re: 8.1 Billion at Eagles Nest - plant financing-Goldhaven....
in response to
by
posted on
Oct 08, 2010 05:38PM
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)
"but why hasn't it really happened yet is what I'm going to try and find out more on this weekend."
Easy answer... see correct answer at luckey28's previous post...
Why do you think they went away from the development of this area and into "exploration" coupled with all the nuances that pertain to the opening of a mine...
AFTER WE FIND OUT WHAT WE ARE DEALING WITH!!!
OK, what has transpired since that statement? Have you still got all your shares? Does the guy sitting next to you? Does anyone here??? I'll bet some still do. I'll bet Babjak has even more shares than she started with when that statement was made...
I do NOT have all the shares that I started with when that statement was made. I have far less. Call it what you will, but I do not have the confidence in this management and BOD's that I did with the last bunch. It all started with the instant PP priced in at around 60 cents for 30some million shares... to WHO??? Hmmmm.
I'll go on record to say that this management style is not my kind of style. It MAY be for the better, but to throw the shareholders some kind of bone in tough times to let them know what in God's Green Earth you are doing with 40-50 something million dollars (which includes your and my investment money, by the way) but no, let's maintain radio silence and see who will drop some shares for us to gobble up... (bad pun intended for Thanksgiving :-)
Maybe it WAS the best way to keep the majors off our backs... only time will tell. This play would have worked out much better if we had been able to start mining this and just found out how much high grade ore we actually have by counting the truck/trains driving out on the winter road instead of spending 10's of millions of dollars trying to find it with a little drill bit at the end of 2.5 kilometers of drill stem.......... MY opinion only. Hey, what do I know. I'm no miner. But even "I" know how to install a blasting cap into a stick of dynamite and shove it down the hole to loosen up the rock/ore by sequentially blasting the crap out of it (from a safe distance, of course) to be able to swing the bucket of that extra large hoe over to scoop it up and then drive it out over the 3+ thick ice road down to the smelter...... THAT, people, does NOT require a degree in Rocket Science... Nor does setting up dykes with the overburden blasted out of the way to get to the ore so you can set up the pumps to keep the water out of the excavation hole.....
Herb