Does anyone want to comment on this ....
In all honesty - I did not even realize that they
had 100's of feet of water in Lamaque.
Posted on SH on 1/29/2007
So Century management thinks Lamaque is going to produce how many ounces in 2007? Has it occurred to anyone on this board that the mine, inoperative for all these years is certainly flooded? The permit when/if it arrives (remember the TSX listing) will allow them to pump out the water and start work. Or do you imagine that they will pump out the water and start to work the next day? How long did it take Aurizon to get Casa Berardi back into production? More than 3 years?
You can guess that the million or so ounces reported to be available at Lamaque underground are not going to be your easiest ounces to mine. Do you think that the Placer and Teck employees walked past all this gold every day on their way to work so they could go to the bottom of the shaft and work there? How likely is that?
And don't even get me started on San Juan........
What utter BS, pure fantasy.
stockhouse.ca
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OK, Let's have a look at that news release.....
Sure, they had a look down to the 1200 level and we can assume that they stopped at the water's edge. The bottom level is marked on the ppt as 6000ft (level 40 should be 4,000 feet, TYPO?)according to the 2007 presentation, page 14. That is about 3,000 feet of water. All the mining blocks, with the exception of two small blocks 1 and 2 are (and have been since 1985?) under water.
And these shallow areas where Peg found all this gold, I guess the old miners just walked past this ore so they could play at 6,000 (4,000?)feet. If this ore was left in place it was left for a reason.
Which begs the question, if the blocks are underwater and no one has been there (since 1985), how does Century management know there is over 2.4m ounces down there? Did they hire a submarine?
Does it bother any of you longs that almost 50% of CMM's "gold" is/has been/will be under 3,000 feet of water? Oh, yeah, sure, it could be there.... and well old Peg says so, so it must be true.
Peg has given so many stories, so many versions its hard to keep it all straight.
Anyone still mystified at the 50 cent share price? Anyone still wonder why no institutional coverage? No TSX listing? Why all the selling by insiders like Endeavour? Directors leaving? Do you guys really think the share is going back up to $2, or even 80 cents? With these magic beans for assets?
Oh and Rich, nice comment last week about the geologist who resigned, you know- the one that found the Peru assets for CMM? Why did he leave? With his first hand knowledge of the drilling program? The results that haven't been released? A person with lots of share options and the first look at the drilling results leaves the company, and then lots of selling, makes you wonder? So, how did you find out Rich? It wasn't announced anywhere. Are you a Century employee?
I hope you are not just talking up the share price so you can sell out and escape leaving all the lesser informed suckers to hold the bag.....
stockhouse.ca;
regards,
John |
