Re: Drilling Updates
in response to
by
posted on
Jul 26, 2009 03:33PM
I also hold both NOT and PRB. Its my understanding that we will get the NR with drill udpate on Monday. Really, I dont know what to expect, but I remain hopeful. I too think there is a very high probability of announcement of chrome. They are drilling in a chrome belt so if there are no chrome indications, then it would certainly be very disappointing and SP would be in trouble. The assays wont be back for several weeks, but I sure hope we get initial information that is encouraging and will raise expectations to help solidify or improve SP. If we can get indications of mineralizaion other than chrome it certainly would be icing on cake. The "very very very interesting" comment raises my expectations, but I remain cautious.
Many have high expectations and I truly hope that the results are outstanding. But I recall the high expectations I had in summer of 2008 when PRB initailly drilled just to Norht of Eagle 1. Unfortunately those drill results were essentially a flop and for me it was a tremendous let down so I try to put my expectations in the context that nothing is a sure thing. I'll just wait it out and hope for best. But eventually, hopefully sooner rather that later, I would really like to have PRB go to that area above Eagle 1 and try again. The thinking, as stated in previous posts by myself and others, is that they may not have drilled deep enough last time. Plus, they can now get technical support and reports from NOT to help them better analyse where to drill, how deep, etc.
Right now, it just seems to me that nickel is king when it comes to influencing SP, and to this point, anyway, it just seems that investors say ho-hum when it comes to chrome. (Hopefully this will change, but at this time it seems to be the reaction.) If PRB/NOT JV can add to the known nickel resource and help prove up enough nickel resource overall in the Eagle 1 area to show a mine is economiclaly feasable, then I think that PRB will skyrocket in SP. (So will NOT for that matter.) But PRB has so fewer outstanding shares and such a lower price that it should go up quicker and %-wise higher, IMO.
In addition, if a nickel mine is proven economically feasible, then I think that chrome will then get the recognition/valuation in the market that it just doesnt seem to get at this point in time on its own as the chrome miners would benefit from the development of infrastructure, etc from the nickel mine. (i.e., proving a nickel mine is economical is the key to increasing the value of all the chromite being found.)
Thus, I look forward with anticipation for the drill update from PRB. Hopefully on Monday, and then we can reassess and see where we are at.
Then, look for another NR later in the week with an update on the West Timmins JV.
Good luck.
profits