posted on
Jan 30, 2012 08:57PM
A day like today can rattle a lot of nerves when gains suddenly disappear. Everyone likes the idea of a straight line to riches but I've yet to be in on one of those deals. Exploration is a very inexact science/art that requires a lot of skill and a good amount of luck. What I saw in today's NR was confirmation that things are going well on the main BL ore body in that it was extended to depth,along strike and that it was open in two directions. All three are positive indicators.
The nose-fold results were disappointing in that we were not suddenly rich. What we did find is that he nose fold has gold mineralization in it which is a positive in that it confirms the right environment. The challenge now is to see if they can refine the target and hit more mineralization. Expect a few misses until they either figure out the geology or move on to other targets.
Hunting for blind (no surface exposure) deposits that are marked with weak geophysical signatures is going to be a challenge with lots of missed holes. It's the nature of the business.
I saw today as an overreaction on the sale side and was an active buyer at $2.25 (TD). With the volume of drilling planned for 2012 we will see a regular flow of news over the next year. All positive signs for increased value. So, I saw today as an overreaction on the sale side. I was an active Buyer at $2.25 (TD) and will be again tomorrow if it drops further.
... Been There