Thanks for the last two messages Ron S: It continues to be my view that for whatever reasons, IPJ is holding tightly to their drill results. They have alluded to them in past releases. One can deduce that Sebuluh has something for a number of reasons:
1. Take over of DAYK. While DAYK has a good treasury, Sebuluh seems to be important. A couple of us were promised that Sebuluh Hill on Dayak COW drill results would be released BEFORE the merger......this has not happened. Also, Sebuluh drill hole #2 had two secitons with visible gold which was initially described to us in phone conversations as "very excellent" by two IPJ personnel, then on subsequent conversations this was downgraded to "low grade" or "not too exciting", then on a recent conversation it was related to me that the Sebuluh is narrow but has showing for long distance and perhaps to depth. Also, on the last conversation I asked Peter, (IPJ Geologist) "What about DAYK Sebuluh drilling, when will we have results?" and Peter answered: "We are waiting on drilling results before publishing." RE: How many holes? P: Six. We did have a gold show on one of the drill cores." RE: Was this drill hole number 2?, P: Yes, RE: How would you characterize the results from Sebuluh? P: We are excited about the results. There appears to be a large mineralized area at Sebuluh. RE: What about the L-N prospect? What prospectivity do we have there? P: There is good quartz showings at distance but narrow. Possible that there will be value at depth but this will have to be proven. . It is also in IPJ's interests to extinguish DAYK's 20% free carried interest on any IPJ Kalimantan AU find. I conclude from this point #1 being made that they are in fact holding drill results close to their chest.
2. They have results on IPJ COW, L-N prospect on the Serisi COW. THey have drilled and NOT released results. Any results released have been very generalized from which you cannot form values.
3. IPJ has stated that they presently control 20 km of the 25 km long Sebuluh Fault. It would appear that approx 2+ Km are on DAYAK lands, 18 km on the Serisi COW. In a conversation with Bill Burton and another with Peter at IPJ, both have confirmed that they are looking to acquire the additional 5 km of Sebuluh Fault they do not presently control. This is located at the NW corner of the Serisi COW..
4. IPJ has indicated that it is interested in JVing 3 of it's most interesting properties in Central Kalimantan. These are: Sibau, Jurassic Park(this is also known as Batu Putih) and Mahakan (assumed E & W Mahakan). The deduction I would pose is that in the absence of also declaring ground through which the Sebuluh Fault runs, we can conclude that SF ground is of paramount interest to IPJ given the above arguments 1,2 &3.
Ron S: I am involved with MGR as well as IPJ. Agree with those on the MGR thread that it is very prospective. The addition of cash flow from the soon to start up Bumbat Mine (49% MGR) will take care of their cash flow needs for the forseeable future. Once the start up is achieved and the cash starts flowing in MGR will see price appreciation.
Don't discount IPJ interests in Hinoba-an etc to vend for approx what IPJ is trading for today in net value to shareholders (don't know how taxes figure into this). IPJ also have very prospective ground in Mongolia which appears to have 600,000 oz probable now. IPJ is setting up 3 crews to prospect the Mongo Lands (April 8 conversation). We should hear soon IMO about the prospectivity of these lands....hold onto your hat RonS.
IMO the MGR and IPJ Mongolian properties are a double barrelled ++opportunity.
By the way, have you been to the GMO thread? Check it out, soon we will have trenching results from their Alaska prospect (actually on York Peninsula in NE Aus). Soon thereafter, 2 drills turning on the most prospective areas. Exciting, non?
Best regards,
Ron E |
