Hello Frank et all
Well, I'm just pleased to see that TWG actually did something in 2002 at JI. As for the NR, well surprise, its too little too late. Management just doesn't have a clue how to play the junior market. No one is going to speculate when such news comes out in May rather than intermittently over the summer or in Dec/Jan. Based on management's casual attitude over the past two years, we can assume no laboratory news will come out again until next May so why keep holding TWG until then?
As for the content, I would have to say that the data was fairly attractive, what there was of it. Finding a diamond in overburden certainly suggests that Cargo 2 is going to offer economic potential. So counting it along side Cargo 1 and FT, volume wise, JI is well on its way to containing very attractive potential ore volumes. Beyond that of course it is much too early to speculate on anything else.
However, as plays go, a simple comparison of the size of the 3 known diamondiferous JI pipes compared to the size of the one 8m x 40m outcrop (pipe) on the Melville Peninsula garnering so much momentum under Northern Empire & Stornoway's share prices, shows you the initial differences in economic potential of the two plays vs what a little market promotion can do for a stock with lesser initial data. TWG might want to learn a lesson or two from their management's vies a vie getting the price up before you float a issue so you don't dilute your loyal shareholder's positions.
If TWG management would assure shareholders that 2003 drill results would be announced between Sept and January, I would keep holding TWG, but as things stand, its stagnant money. Speculators (the market) will no doubt move on to Churchill, Melville, Coronation, Victoria Island and Ottish for this year's CDN diamond area play exploration potential as that is where field news will be announced in a timely way over the next four - six months.
Unless management changes its habits or BHP takes a run at them, TWG news is finished for another year and so is the stock price.
Good luck all.
Vaughn |
