We didn't know what that long intersection meant at the time - the big deal then was the 'P' word ... not hearing the 'P' word, combined with boredom like you say, knocked the stock steadily down to its May '98 lows. Only the valuations brought any interest, and then only slowly, as people came to understand what it meant.
Also, the meaning of the 186 intersection is still not entirely clear, it was "complex kimberlite breccia" - which says to me 'not necessarily economic, just interesting'.
"IMO as long as WSP drills hit the 2m of kimberlite there is no
other downside risk till the bulk sample results."
Exactly, imho - there's the only considerable negative, shooting blanks.
Shooting a couple or three wouldn't be a big deal, since it seems to me quite reasonable that the dyke could be pinched off in places, but if it started to look like a corner of the dyke was drilled off, that would kill the 'cone sheet' theory [which i don't particularly like, i think that's a hypey term - Lord only knows what form that dyke is emplaced in, and conjuring up expectations of 80mil+ tonnes by Christmas can only harm the stock when the inevitable disillusion comes] ... ~10mil tonnes of 200US rock would give us a mine imho - i don't care what Bishop and crew say, two billion dollars worth of rock will not stay there lonely for long.
But I've been into wsp two years now - the potential is fairly apparent.
What we lack is intelligent presentation of the downside possibilities ... a Reality Check or an EC without the ego would be a real asset.
I hardly watch spe any more, still have the few i picked up at .38 [ouch-g-] and .24, i think ..... don't have as high an opinion of Kazakhs as i did, or Aussies for that matter -g- ....... cheers |
