Hi red,
Attended a seminar at the PDAC entitled "So you want to be a director,...eh"?....given by a former geologist, and former director of several mining companies and now RCMP officer, responsible for finding stockmarket scams in the mining industry.
Current penalty for inflated reserves, resources,lies, tips etc, etc, is ten years plus repayment of losses and fine. This is true for written and oral presentations.
All officers of companies worth anything know this stuff, although some directors may not. If you say something you know is untrue,or do something not in the shareholders best interests, no directors insurance will cover you,....you are going to jail.
Now how does this apply to us. Well, RT has told lots of things to you, spence, james, me, Mrs Nose and lots of other people and the information seems to correlate with one another.
RT has publically said there is 20 + million tonnes of kimberlite in Snap. He has confirmed grade and valuation data for the diamonds. He didn't get sued for keeping the fact that 75-80% of the diamonds value resided in the 3 largest stones,...because that is normal to most diamond mining operations, regardless of location or type,...pipe, alluvial, dyke, sill or whatever. He says the current program will prove up enough tonnage and value to satisfy the bank to loan Winspear the money to start up a mine.
This means that unless RT has a wish to go to jail, we are about to become proud owners of a mining company, subject to bulk sample results,...and unless someone can tell me why the unreworked, uneroded kimberlite from the minibulk samples on the NW dyke taken last winter, should be any different in grade and valuation from the exact same type of unreworked,uneroded kimberlite from a location 100 or so feet away, I say we are the proud owners of the richest diamond mine in the world today,...with a resource open in 3 directions + 1,....I say +1 because of the potential of Snap lake to host a monster feeder pipe,...300 hectares or more in area.
Now in response to the spinoff of exploration assets from the mining arm of the company. Seems like a legal response to the potential of being sued doesn't it? Why tie up the rest of the company, with the Snap Lake dispute, that may take a year or so to come to a settlement. Think twice before you vote no. It sounds like very good legal and economic advice to me.
Now, can Walt please publish his price list on this website for his original artworks entitled "The Monster under Snap Lake" prints, before they become rare collector editions, and not able to be bought for under $1million US dollars. -gggg-
cheers, russett |
