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Gold/Mining/Energy : GITENNES Exploration (ase:GIT)
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To: charred who wrote (888)11/22/1997 8:28:00 PM
From: E. Charters  Read Replies (1) of 1092
 
The question is do they have a resource in the ground and can you
judge it by holes drilled to date. The answer lies in the geology
and not the few holes they have drilled. It is hardly a promoted company although I admit Canaccord is in it.

If you pretend to know you can drill off, or cut off a deposit with the drilling to date then I would say you are prescient indeed and a far better geologist than many. It is a mistake that many geologists make who pretend to know gold. It isn't easy to drill off. In fact it may be a mistake to try to drill off many gold deposits at all. And where it is difficult to drill it may be doubly a mitake.

Look at the gological trail. Statistics don't always tell the tale.

The problem with the company is the drain on resources to prove this deposit. It hasn't been and won't be easy but the geology tells me its there. Never mind the misses. Half the reason for the missing values is that there is abysmal core recovery. You shouldn't hang your hat on that.

Disagree all you want. The money may even justify you for a while. It's money that counts I suppose. But If I were looking for orebodies and it was up to you and I to say where, I think you had better listen to me a bit. In the meantime we are both guessing. And If you want to bet on a lot of gold stocks tanking for what ever reason, if the price doesn't pick up in two months it's a safe bet no matter what they have in the ground.
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