Hi Alan: I finally had my first look at the three attachments. Whew, that's a lot of info to digest. Overall, the attachments are rather difficult to absorb on first reading, but then again, these is technical stuff more intended for Dale's eyes than the public's. Nonetheless, it is very good that the company releases such information because it promotes credibility. The info quantity and quality exceed that of IPM...all we got from the latter were reports that there was no degradation in yield, a few numbers, and then the bombshell.
It seems that Maxam's use of the word "minor" to describe PGMs on the property was accurate. I was hoping to see PGM concentrations similar to that of gold, but it seems they are very low, not enough to really make a really signfiicant difference, cash flow-wise.
The location of the hot spots shown in the RC drilling press release some months ago was around the boundary between Peoria 7 and South (I had called and asked back then), so this may account for Hewlett saying that Peoria South as more gold and Silver than Peoria 7.
So...if platinum prices collapse, we could just mine Peoria South, and if gold prices collapse, we could just mine Peoria 7! :o)
Rand |
