Greetings:
Take BarbP out for a movie and look what happens. :-)
Actually...everything in the release looks to be what I would have predicted two months ago. Don't get me wrong there...I'm not blowing any personal horns. If you think about it all...aren't those numbers what you would have pencilled in the blank grid squares? (No...I don't mean square for square. Like I knew the temporary thick area would be where it is. But the numbers look like what they should...randomly speaking.)
Comments:
#1. Well, they wanted to prove 7 to 10 million tonnes. They proved 10 million tonnes. I'm counting the following grid squares at an average true thickness of 2.5 metres: K11, J11, (M12), L12, K12, J12, M13, L13, K13, J13, I13, (M14), L14, (K14). Squares in brackets are inferred. That's a total of 14 million tonnes, less three million if you don't trust my inferences. I've also omitted most of the thinner "I" row.
Tonnage is on track. The north shore tonnage appears to be at or headed toward 5 million tonnes, and is still open. OK...I get carried away. It's at about 3.5 million tonnes...likely about five. That's good stuff. That's better than I initially had hoped last fall.
#2. I'm not sure about the data from the hole with two intersections. I'm assuming that only one intersection was hit in the newer holes. Possibly the second orphan intersection has now been eliminated in the averages...possibly not.
Data here is pretty sparse.
#3. The thinning along the "I" range I have always interpreted as the probably end of economic mining. Perhaps not.
#5. This is a complex ore body...and seems to be living up to expectations. So far, so good.
#6. I'd like to see more work done on the north shore this summer....and possibly something soon offshore near the SE dykes.
#7. I don't think this releases alters the overall tonnage possible whatsoever. It hasn't increased...nor has it decreased. Things remain on track.
#8. Overall....I'm quite happy. The drills are turning and "mother nature" is saying "Yea". The question is....what does the market say?
Have rumours of pipes gone awry and monster thicknesses been built into the share price? Probably.
Will this mean a Monday selloff? Well...this is the 'spear. Go figure. :-)
Well...that's it in a nutshell. I want to piece things together in a much better fashion tomorrow. (Can you say M-A-T-H? sure ya can!) I'll add what I glean then.
I'm getting the impression some of you are less than pleased. Well...look again. :-)
Maybe some rumours will come true next week.
Regards,
WillP |
