SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : GGFI-GUYANA GOLDFIELDS
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Michael Brody who wrote (72)5/25/1997 10:34:00 AM
From: Daytek77   of 259
 
Michael

I have done some research and here are my conclusions. I previosly mentioned why buying on the CDN is not a good idea. There is alot of b.s that goes on there, some of which was mentioned by CLK. The propoerty is the site of a previous mine called the Peter's mine. Some of the early releases mentioned 39,800 oz of gold produced between 1904-1909, this number was changed to 42,000 oz in one of yhe latter releases? The property was worked on several times, when it was being mined in the early 1900's, in the 60's the United Nations Revolving fund worked on it and defined a resource of 226,000 tonnes grading .95 oz/tonne which equals about 214,000 oz of gold. It was also worked on by BHP in the 80's. The reason I mention this is because when you are dealing with a property that has been worked like this, you have access to all the previous drill results and you bascically have a blue-print of where the high-grade zones are. This can be misleading because it allows you to present good results and give the option to an insider to sell into strength if they want to. I am not suggesting this is what has happened here but the possibility is there. Finally they have encountered problems drilling, stuck rods, broken rods and caving. I would not move quickly on this until the scope of the project becomes more apparent. The results have been good but defining how much gold is on this property requires alot more work and in this market environment it is best to err on the side of caution.

All the best

Tony
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News