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I spoke with Mr Bale of TKR today, and asked some questions regarding the prospects for the Labrador and Bolivia projects. First of all, I asked about financing. TKR is well funded, and in fact the costs of Labrador drilling have been carried by NDT Ventures. As far as Bolivia is concerned, a joint venture partner (Inmet) will cover exploration costs. Drilling in Bolivia should start within a month on a prospective gold property. It seems Takla is well managed, and is one of the better financed companies on the Alberta Stock exchange. I asked what would happen in Labrador if the next set of holes came up the same as the previous ones. The answer was that TKR was not as upset as the market was concerning the drilling results reported so far, and since the targets are very large it is really too early to draw conclusions about the economic viability. A lot more drilling needs to, and will be done. Parallels to Falconbridges Raglan project were made, and since the TKR targets are much larger, there is good reason to believe that the NAIN project will prove up economic reserves. My opinion is that this project is still wide open. It is possible, even likely, that when the next round of results are reported in a couple of weeks, there will be another adverse market reaction. I intend to tough it out through the next several months at least. I believe there is still diversification within TKR, and at least, as presented to me by Mr Bale, financing is not of any concern. We'll just have to wait and see.
Robert |
