Hello Dave
Come on now, don't blow smoke in my face.
I am the last one you have to sell on your chemistry, and it should go without saying that you obviously could not proceed before now with your cash crunch.
I referred to neither issue.
I said “Sound familiar”?
Specifically the detailed reporting on the geochemistry….
The question I had put to you from my previous post was, what had changed between where you were in terms of target selection and intent to drill from Dec 97 to Jan 99?
“It is anticipated that a winter camp will be established on the property during the first quarter 1998 and the first round of 1998 drilling will then be initiated. GMD is targeting 20 geophysical anomalies for spring drilling; followed by a summer and fall drilling campaign also.”
In Dec 97 GMD announced it had selected 20 targets and intended to drill by spring and throughout the year.
In Jan 99 GMD announced it is still refining targets and is unspecific about drill dates.
I have no doubt there is a perfectly logical reason for the contradiction, perhaps as simple as wanting to be absolutely sure that since holes are expensive, the first one hits pay dirt, but it looks bad. I am sure shareholders would appreciate being taken into the company's confidence. After all, it is their $$ which you are trying to maximize return on.
You had already flown geophysical surveys in 97, why are they needed again in March 99? Again I am sure there is a logical reason. Tighter grid, helicopter vs fixed wing, lower or perpendicular grid? But tell us why the homework appears to need repeating?
You had twenty targets in Dec 97, why not just sample those targets and do a ground mag over the one or two with great chemistry in 98 AND BE DRILLING NOW?
This is exactly what I have been bugging you about Dave for more than a year now. GMD has the baggage of what happened through past management hanging around its neck. If you want shareholders and prospective ones to believe in the “people” you refer to, its vital that GMD adopt a corporate communications policy that avoids questions of agenda and honesty and appears to be dynamic in its actions.
Contradictions left unexplained are an anathema to conservative investors and vacillation produces similar responses in the few speculators who may choose one or two prospective plays in which to invest their few remaining $$ after the blood bath of the past few years.
That Dec 97 NR also referred to the possibility of additional trains:
“Further detailed sampling is projected for the summer months to further refine subtle indicator mineral anomalies and thoroughly test the property for additional sources that
do not exhibit strong or typical kimberlite geophysical signatures.”
Your most recent NR states that three additional trains have been determined which appear to have multiple kimberlite sources. Since the previous NR suggested 20 targets with trains cut off up ice the reader was left with the impression that you had multiple (+/- 20) trains in Dec 97 and were anticipating more. Was this reference just BS or have you now determined that there are only four trains in total with multiple kimberlite sources?
If there appears to be additional exploration potential, again, I am sure investors and share holders would like to know about it? Regardless, contradictory or confusing information needs explaination.
Since you mentioned JK and his selection philosophy, his, and other tout sheets, are not exactly singing GMD's praises Dave. There may be any number of reasons, and it may actually be because he and they don't believe in your “people”, but lets assume that they simply have doubts about your ability to produce real results right now.
So if you want the market's attention, a little honest self promotion and PR campaign (as I have berated you about) is most certainly warranted.
Your Jan 99 NR stated:
“Upon receipt of the major oxide analysis, the various target priorities will be reassessed during February, 1999”
OK, so tell us about the oxide analysis… and when you have reassessed your target priorities this month, tell us about that too. Keep the NR's coming bi-weekly ON A POPULAR WIDELY READ NEWS WIRE!!!!
One last thing. Why does GMD not report the number of eclogitic garnets found, their size and chemistry? Surely there have been some? If your pipes are primarily peridotitic fine, but it would be nice to know.
Believe it or not Dave, as big a pain in ………s as I must be to you, I have the best of intentions. I believe you have a winner here, but I am exasperated with the way the company is dealing with the market and its windows of opportunity.
No successful junior miner can afford to do that.
Yes, you may ultimately prove to have 8,000,000 oz's of AU sitting in the ground, but I am sure even you have noticed, that nobody cares right now. Maybe when the Y2K scare guts markets this fall/winter or when Japan's recovery actually starts raising commodity prices again, that will be a story or even an investment consideration, but you may as well have 8,000,000 oz's of horse s…t.
Actually, that might get the market's attention! At least somebody would want to buy that and it probably would be open pitable…
Regards
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