Hi George,
I've turned into a lurker as I keep my eye on the price of cobalt while WSP waits for ice.
Last year was a poor year for ice. The result was that many places in the NWT could not be drilled. Too dangerous for the heavy equipment.
I've been reading everything that comes my way about El Nino. The
reports are that it is going to be a mild winter here on the BC
coast. I don't know what that implies for the NWT. Walt says it is
below freezing already. Lets hope that it holds and it doesn't snow.
We need clear, cold weather for awhile so that the ice becomes thick.
Last year a lot of early snow insulated the ice and kept it from
forming a good depth.
The implications of a warm winter would be that the drilling season
would, at worst, not happen, or be shorter than usual. Everybody on
this thread think "cold" and face north. Faced with a warm winter, WSP and every other diamond company would be looking at angle drilling
from shore.
Walt, keep us informed.
Even if the winter is normal, I wouldn't expect to see any drilling
started before January. Moving heavy equipment has to wait on ice roads being built. WSP could fly in light equipment (very expensive)
but heavy equipment has to go in on trucks. Those who've been on
this thread for a time will remember Walt telling us about the last
trucks getting out before the ice road became unpassable this spring.
Unless the AGM has something interesting, we're probably looking at
about 7 weeks without much news. The price could slide on small volume. Hopefully, WSP has some items that will keep interest up between now and drilling. Otherwise, I'm just going to look at it as a chance to average down. The price will come back once they announce drilling is going to start. |
