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Strategies & Market Trends : Winter in the Great White North -- Ignore unavailable to you. Want to Upgrade?

To: kidl who wrote (2356)	5/25/2002 1:10:50 PM
From: russet	Read Replies (2) \| Respond to of 8273

Not yet achieving guree status, but only in training, I will give it a try but the appropriate disclaimers of incompetence for statements will apply. Given the past history of RED.v, and what seemed to be the enormous load of bullchit we got about red emeralds on their last go around, I have a hard time taking them seriously,...has management changed?,...looks like McAlister is still there. If it weren't for a former high up member of a British Columbian geology group recommending it as a good flyer at a big convention, I would never have looked at this company in the first place,...something to keep in mind when attending such conventions where it is more important to know what is not discussed, than the bullchit that spews out of everyone's mouths. They are drilling in an area with known gold mineralization that has been drilled previously, so we know they will find something. But keep in mind someone has already abandoned hope of finding enough to be economic at that previous time, which is why RED got the chance to buy in for 65% in the first place. Their first hole in the "Discovery Zone" is drilled 25 feet away from a previously drilled hole with known mineralization. They find some interesting gold values,...surprise, surprise,...but they look to maybe be economic only over two 5 foot bands separated by 100 feet, so it's going to take a lot more drilling in this type of mineralization before anyone knows much about anything. Then they drill another hole 35 feet from the same historic discovery hole mentioned above and pull up 14 feet of visible gold in quartz and host rock rhyolite(nugget effect), and then shear off the drill core (oh boy, who's the nitwit doing this drilling). Surprisingly they haven't bothered to assay yet (in process) but decided to shout to the world they have visible gold. Well they had visible red emeralds too, but that didn't stop shareholders from losing nearly all their money a few years ago. At the end they talk about reverse circulation drilling occurring at a different zone, the 121 zone, 100 feet from a previously drilled hole, and come up with 170 feet of low grade cuttings. If gold keeps going up, who knows, but if this was considered economic by someone, I'm sure we would be hearing a lot more details about prior drilling and exploration, which is sadly absent from current management discussions. In the current gold environment, lots of crap will fly. No doubt tales of visible gold will ignite fires under many stocks as it has in the past,....but when a company reports intervals in feet not meters, gold in ppb instead of ppm, and cries visible gold before performing assays,...I would pause to reflect. I wonder if a year ago, before the TSE bought the CDNX, and during that interval of time in which the CDNX was cracking down on misleading newsreleases,...if this NR would have even been allowed to be released in its present form.