G'day all
I have been away for awhile but I am glad to see those misleading Inside morons at Shithouse are keeping you all amused.
Geeze, been a tough time for NF and Lab let alone SVB! What with ignorant bigoted misinformed shitheads like Lorne Larson and blue-bag kissing Inco employees like Jeff Short trashing poor Newfoundlanders. The point is simple.
INCO in their IMMENSE GREED and STUPIDITY paid too much for Voisey Bay. NO ONE disputes this fact. 4+ billion MAY only be appropriate if the deposit contained a 150 mT mineable resource. Which it MAY now contain, except that they keep messing around with the cut-off grade to manipulate the numbers.
What is transpiring now is WHO covers INCO's blunder. Roughly 1.35 billion dollars were wasted on the initial purchase and INCO needs that covered, on paper, and as a public company they would like to see someone else cover it (e.g. the NF govt. by letting them off a very expensive hook). The NF govt. is refusing to bail out a public company to the tune of 1.35 billion. No one would accept that anymore than say, the Ontario government giving GM a direct 1.35 billion concession to end the latest strike (now resolved). It is not governments business to interfere in public companies (depending on your political ideology).
So we are in the middle of a negotiation process over who should cover INCO's blunder. With all the rhetoric, arm-waving, finger-pointing, PR manipulation that accompanies such a significant public discussion. In the end a deal will be struck that will be mutually beneficial to both parties that will see the project developed in an economically and socially efficient manner. What is unfortunate that along the way, ignorance of the process and other bias (e.g. Msrs. Larson, Short, Crebs, Marshall etc.) are fostering vulgar, emotional bigotry because these and many other people simply do not possess the intellectual capacity to recognize the fun and fanfare that goes along with a public negotiation procedure.
ahhhhhhhhhhhh but I digress.
How about that DML taking a three week drilling break.
a) Breaks in drilling ARE NEVER GOOD. NEVER.
b) The 42ch PEM (Crone) is not "new" that is just PR bullshit. You can complete 2-3 holes a day therefore the drilling holds up the EM process RARELY the other way around.
c) They have been ass-backwards since day one. BECAUSE: DML expected to start the drilling by drilling off that massive intersection (they hope orebody) last year. They though it would be easy and continuous so there would be no public pressure and they could muddle around on the regional front (like N. Voisey Bay). To this end they did very very little planning and work over the winter and it has placed them in the present position. They are confused right now.
d) I would expect that Tony Naldrett and his two students are compiling a geological model based on all the samples Tony collected last month. I suspect DML are waiting for this report to tell them where to look next considering the present drill information.
e) The gravity has been misinterpreted from day 1. The MGJ sections are a very good example. The people just do not understand the vertical ambiguity of potential field data. For example: The gravity highs interpreted to represent thicker gabbro (dips in the basement contact) under the gneiss clearly represent local thinning in the gneiss cover. Almost impossible to distinguish without spectral analysis and depth stripping. Many other examples exist in the gravity data alone.
f) There are several rumors swirling around SVB but none are worth mentioning because they come from people with expensive and large positions in DML.
g) The drilling frequently hits thin massive intersections but the grades are not good.
d) The LNS have always been in discussion with Falco. Not a new concept. This interest by Falco should not be overstated. Remember Falco also did a deal at east VB and let it lapse. There are dozens of reasons for a major to get a piece of a play like this without implying there is an orebody there. It would be very interesting to have Falco in there (Keats is ex-VP at Falco). But there would not be room for both Falco and Teck. Teck will be gone soon.
ohhhhhhhhh that was a long one. See what a week without posting does to ya:-)
1King |
