Hello Walt,
I have been lurking on this subject for a while now, mainly
to gather info and a different slant from the junior stock players.
I do not own bxm, but I do have positions in ror, wgc, ambx and
most recently sur (3.25 c) .
I am a eploration geologist by educ. and had about 25 yrs
of experience in nonferrous metals, primarliy bulk tonnage gold
deposits in the western U.S. I have been out of the business
for about three years, having got tired of the travel and some of the
people in the business. I am now trading stocks and index futures
full time. Actually, I am one of the original founders of a well-known
vse junior, recently successfully, but I admit I had nothing to do
with that success as I was long out of the company. Enough
about my background. Now to BXM.
It was completely irresponsible for FCX to come to some
conclusion after ONLY seven drill holes, even if they were twinned,
in a deposit that size. According to reports, ABX drilled 100 holes
which more like it. Although I have never been there, mineral-
ization like this is erratic at best, homogeneously hetreogeneous.
Second, it would be almost impossible for one or two people to have
complete control over all of the samples leaving the project area. This
project would dwarf some of my drill programs, and even with 3 or
4 drills running, you can't keep track of every 5' sample, as it is
logged and bagged by junior geologists or techs who are competent
but would have no interest in some grand "salting" scam.
Possibly, Bre-X, got carried away at the fringes of the deposits in
extrapolating reserve figures and "overstated" , but based on what
I know, I would bet there is a significant minable reserve there.
Possibly Freeport is trying to discredit Bre-X so there COWS
won't come home.
Best of luck to everyone,
Coug |
