There was a point somewhere around winter of '06-'07 where i had over forty per cent of my own main account in Metalline ... this came about because there was a combination of reasons to spend and/or temporarily invest off-market, and i'd sold most of everything else, had just reloaded mmgg under 3.00 [if memory serves] and it was doing fine, things looked great ahead, lol
We didn't know then that the zinc spec cycle was about to fall off a cliff, and the whole project [along with many others] had missed that swing
We also didn't know that the way Merlin was going about drilling off the deposit was not considered systematic by others in the mainstream industry ... he was out to save shareholder money, and was quite successful at it too, all-up cost per foot was quite low ... and there's never been anything wrong with his data, as far as i've heard, the thing was that influential 'modern' industry types would have drilled different patterns and spacing
Everything i had in Metalline, and several others around that time, had come from the spectacular net gains of the 2001-2005 period, multi-baggers like Anatolia, National Gold/Alamos, Genco, Western, etc etc, there were so many, you could book a little gain from a pop in one and roll it into a dip in another, then reverse the order for another gain the next day, or just later the same day, and even if you just sat on stuff they would rock, it was like that ... so there's the context
During the focus on zinc i used to think, What about the silver ... during the silver phase, i'd think, What about the zinc ... it's going to take both, to make a mine
Size matters - i would have thought back then that we'd have more ozs/lbs drilled off than there are after this much work ... still this last resource calc shows it deeply undervalued, considering the great infrastructure setup combined with community support ... oxide zinc is more rare than the sulphide, but i keep thinking back to that big coffee-table book Merlin had on the development of Skorpion, which was smaller and further away than Sierra Mojada, in a time of lower zinc prices [outside the brief spike last decade there] ... it's a mine, and a good one imho, matter of time only, maybe a lot more time, maybe not so much more, i have no idea, but i just got a couple of my girls some dime shs on the canuck side this morning, now i'm thinking of putting in a nickel bid in the Yew Ess Eh [already got .10s there, a few .09s, and bidding .07s] ... still sitting on some .32ish in one personal acct, cleaned out the girl's accts months ago to establish better-looking book value ... and it just gets better and better, aaargh, lol |
