Hello Condor
I haven't seen a junior miner yet which doesn't reward/pay employees through options rather than depleting what is usually a limited capital pool.
Do I like the practice? No, but I understand it.
Bottom line, I don't see that what HB does is any different than the rest of the industry.
Regardless, I have long since learned not to fall in love with any of these plays and like 80% of investors, I don't plan on holding shares while a mine is developed.
The issue for me is quite simple. Does ITF appear to have one or more properties with home run potential in areas of the world where the market will not be concerned about development obstacles or delays? Is ITF actively drilling those properties and/or partnered with a major that is doing the drilling? Has the market failed to take notice of the field results as of yet and is there a share float that while not being too large, still trades in significant enough volume for me to get in and out with out getting left holding?
If the answer is yes to one or more of those questions then ITF or any play with those attributes has real short-term appreciation and personal profit potential and is therefore worth a closer look.
There are literally thousands of juniors out there each banging their drum about what they think they will find, etc. but what separates the potential elephants from the frogs in AU and most mining plays is bulk open pit tonnage that can be economically mined and processed. ITF has that potential shaping up on a number of their properties as does its sister company PFN. It trades in reasonable volumes, has a reasonably modest float and the market has failed to drive the price up as yet.
Perhaps HB's reputation with people like you is the reason the price is still low? Frankly, however, I don't know and don't care, so long as the field results keep coming and management doesn't over dilute.
As regards CVV,... from what I can tell, their NR's are all talk with no preliminary field results to sustain anything other than dreams. When cores start coming back with significant grades and/or mineralization measured in 00's of meters, then I'll be looking if the rest of the market hasn't already speculated.
All the best Condor.
Vaughn |
