Hello Dave
After our conversation last month I did take you up on your invitation and asked for and received the geochemical promotional release to which you had referred.
I have gone through it in as much detail as I can considering the scale and clarity of the faxed data and text, and while there certainly does appear to be some interesting data, I would hardly characterize it as "spectacular".
Now I am by no means an expert and have no intention of passing myself off as one, but from what little I know on this subject and despite your suggestion on another thread that GMD had the finest chemistry of any pipes found in the NWT, I can not draw that conclusion from these graphs.
In fact, as near as I can tell from this document, you have one J-10 pyrope, 3 or 4 J-9's, 8 J-7's, 32 J-5's and so on. While by no means beyond the norm, the vast majority and as near as I can tell, about 95% of the plotted pyropes are what would typically be called G-9's.
I do not suggest that having these J-10's through J-5's is not extremely encouraging, but these are not significant numbers in comparison to the remainder graphed.
Regardless, having any J-10's and J-9's is reason enough to be pursuing your exploration program in earnest but not necessarily reason to be suggesting that you are, as the song goes, "the best, better than all the rest".
There appears to be some reasonably nice Mg% in your Chrome Diopsides and Cr numbers in your Ilmenites but again, these do not appear to be "spectacular" or even outstanding.
Your refer to a comparison to DMM geochemistry but I presume that is on another document as this one does not appear to contain that data.
While I remain very intrigued by what the Royce claims may contain, I am not persuaded that all the information has necessarily been presented in a way that does not still leave room for considerable doubt.
On that subject I would again briefly like to return to the issue of being up front with the market and all shareholders. I have repeatedly suggested, pleaded and goaded GMD through yourself, to release your news on a widely followed public wire service. Yet this document, the other to which I referred above, and others to which your referred, still are being circulated and/or released to a select few. I can find none of the NR to which your refer on any wire service openly available off the Internet or your web site.
Can you tell us what wire service is being used and on what forum your NR can be commonly found? I have asked for them to be e-mailed upon release, but I have never received them.
No reasonable explanation for this approach has been offered and those of us on the outside continue to be left to draw the kinds of conclusions from this IR and marketing policy that can only continue to keep the company's reputation from recovering. It casts doubt on the integrity of management and their commitment to see GMD's reputation emerge out of the mud.
You have always struck me as a frank and forthright person Dave but on this "equity for all" issue, I can not see what possible advantage is to be gained by maintaining this apparent backroom and insider deal making persona.
Did the general public truly drive up GMD's stock from $0.24 to $0.70 because they saw the promotional material sent to me? I am sorry Dave, lets just say I am from Philly because there is no way on God's green earth that the general market did that.
Regards |
