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Gold/Mining/Energy : Fairmile Gold
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To: saul mikaliukas who wrote (3328)11/21/1997 9:50:00 AM
From: I_C_Deadpeople  Read Replies (2) of 4057
 
Sual, no one doubts that there is gold on this property. What is in doubt is the ECONOMICS of it and the SPEED at which the resource is being expanded. So we found a "link" between A/B/O and L and two zones in L. Where are the assay results for these new areas? Obviously, they were not good enough to release. So we are left to "guess" on the potential and listen to management "tell us" there is lots of potential. Go over to the Bema/Arizona Star thread - they have 19 m ozs. at .8g/t and it is only economic at POG $375.. I also question the use of the word "shallow" in regards to the target F results. the 2g/t is at 800 ft. Is this too deep for open pit? I am not a geologist but I seem to recall that 600 ft or so is about the maximum ( I could be wrong on this and if anyone knows differently feel free to correct me).
Saul, it is fine to WANT a stock you own to do well, but one must always look at the potential downside to protect your position ( Kinda late for us losers but what the hell). The FACT is if EB wants to stay in they will not pay $3.00 for a .20 share. If they leave, any other potential JV partner will try and get this property cheap and we have no bargaining power because of the depressed price. If we go it alone we will struggle to find enough financing to drill without serious dilution. Not to mention that we need cash to drill the new property. CASH IS KING right now and we have little of it.
If someone can describe another scenario to get us out of these doldrums I am all ears.
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