Reasons for the delay in the latest PR
posted on
Mar 18, 2008 09:43AM
(Edit this Message from the "Fast Facts" Section)
I thought it is time to come forward with my findings.
The decision to delay the results was actually made over the weekend, it was never intended to mislead anyone. Most of the results were infill and they felt that they wanted to get more of them together as they have now many holes to report as they have 2 drills going 24-7. This will move more of our resouce from inferred to indicated, and also to the measured category. Indeed our resource has grown larger. The deep holes are not "step-out" holes just some infilling that they decided to take a closer look further down, and these results are expected to be of some significance in the next PR. Also who would want to issue a PR after the "bear stearns" incident!
Management have always done their very best to keep us fully informed of what is happening at the chu. As of late they have felt pressured to include information that has timelines on it. Most of the time the caller "reads between the lines" and draws their own conclusion of what was discussed and posts this as a strong possibility of things to come. By managment giving this kind of information out it made it very easy in the past to manipulate the share price. Great results would get the usual "sell on the news".
Now it will be harder to tell "when the news" actually will come out as they are now going to be very tight lipped about this matter.
I personally would call Crichy and then I would relay my findings to you. Now information will be of less detail as it was before.
I see this as a good thing as in reality it protects the longs and keeps the pumpers/bashers/traders, on their heals. As I would pass information to all the faithful followers, the others used this to their advantage against the honest investors of TTM.
Crichy told me "now don't loose my phone number", but the days of the "detailed" information are over.
Nothing has changed the fundamentals that were in place are still in place infact they are getting better.
BBOB