Tim: So far, formally, only the .04+ chloride leach assay has 3rd party endorsement. And those are not recovery numbers.
The choir (folks like me) see current phase as yielding 3rd party assay figures around 5x this with some partial or better confirmation of recoverability near those figs. I am guessing late april, earliest.
Interest: Feb meeting in PHX first time i have seen even fairly serious $ actually visit and leave (overall) with positive impression.
First truly confident presentation I have seen. A really excellent meet, I thought.
I was around for the DCRS gravity attempt, (a perfectly innocent and natural experiment, btw, hard to see why NN found this "particularly suspicious," or however it was termed in Bloomberg), then the disappointment of the Knelson concentrator exercise, a disappointment for all of us. And one which the company was completely open about, with no hedging or beating around the bush. Big announcement: failure. More power to them. Could have just buried that one.
The stock moved from 2 in early dec to 14+ at its best recently, before the recent, uh, "retracement." It has just been called a fraud in the national press ... still up 400% from worst of Dec (3 mos) and double the Dec close of 4.30ish. Gotta crawl before you can walk and walk before you can fly. This is strong performance.
I have read your posts so I have nothing to add to what you already know about this sort of rock and its history up to now. But I am prepared to call this "prehistory" and let Le and the rest of the IPM team begin the new happier history. Bit of a breach birth so far. But it's getting closer day by day.
IMO, Dolbear is more than willing to do what is needed to help IPM, but they are wholly professional and will not sign off on anything unless they are convinced beyond a shadow of a doubt. I am sure they are feeling plenty of pressure too.
IMO,too, a BD endorsement of #s north of .10 will broaden dramatically the size of the money pool willing to take a hard look at IPM. That may well include majors. If Le is successful, he will be the first to have won the assay battle surrounding this type of deposit. That has major ramifications for IPM to put them even further ahead of the DD pack.
In my more lunatic moments i dare to dream: what we have in BRX is a Carbon Leader (you don't have to go and chase all over the damn goldfields and then drag up from the bowels of the earth) and a Merensky reef all nice and demiruminated and mixed together and laid down in the BRX basin with a comfy little 18" coverlet on top.
No one has ever before been able to do what I am hoping IPM will be able to do: a. prove it's all there and at very robust grades, and b. prove, demonstrate, that it will be frighteningly reasonable to extract. The mining costs are already bout a handful of first class letters cost per ton. So low ...... I am very hopeful about the processing side as well.
Point is: just as Rome wasn't built in a day, mining issues don't evolve overnight. Particularly this which is not evolution, it's Revolution or nothing at all.
This one has been a really tough one --and likely will continue so for a bit longer. Folks are still apprehensive. "it can't be!.. hmmm, maybe it is!!)
When they all want it, it won't be there (or at least here at 8), to have. When it is all delivered with box and bows, you want it, you're going to have to pay for it.
see ya, alte |
