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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: Rocket Red who wrote (40632)	5/21/2007 9:40:43 PM
From: E. Charters	Read Replies (2) \| Respond to of 78426

Now we know that the orebodies themselves are not that large. ( 7 X 1 km) CDN Arrow was tiny, and Timmins nickel was about 250,000 tons as mined. On the other hand there could be larger plugs in there and Timmins Nickel itself was (surprise) NOT mined out. For the real size of the systems in toto you may PM me. Of all the posters here, I may be of about the only one who has walked the deposits in question, worked with miners who worked at the Langmuir, visited the Timmins nickel mill when it was working, and staked on the deposits as well. Not that that matters. I also considered staking the whole area in 1995. Trying holding that stuff for 12 years. Takes more than a nickel. What used to drive people away in the early days were the number of drill holes that did not hit in Carmen, the iron formation which was largely barren, but at least surficial, the difficulties of the model (hydrothermal subaqueous interface), the size of the bodies (generally 25 X 350 X 350 feet) and of course the nickel price. On the plus side are the generous widths, the good grade, and the low copper. A fair bit of nickel was drilled by Inco in the general area east of Timmins and they found mostly narrowness and discontinuity. The biggie was always Montcalm, east of Timmins, which is supposedly Kamiskotia Intrusion related. Again mineralogically different supposedly than the Timmins Nickel Analogues. I expect the Langmuir drill-off to get to 500K tons. That is not that bad. If they have three consecutive 100 foot strike-separation or step-out hits of equal magnitude, which would be unusual, I think it might be a buy. 2 million probable shallow OP tons of 1% ni. But at 67 million shares out that is only a 2 dollar stock with the kicker of the down dip stuff. That is the reality. 900 million dollars in minerals, take ten per cent and divide by 67 million. Of course the run up could be a lot better. If they find a whole bunch more lenses of smallish size, they still might not exceed 2 million tons of OP ore. But I would put their value a bit higher. The Falco Raglan found a bit better in 20 lenses and drilled off 12 to 20 million of underground stuff at 3 times the grade. That would be your 45 dollar stock. Good reading here as well. library.iem.ac.ru And if you can find it here.. Hutchison R.W.&Robertson D.J. (1982) Evidence volcano-genetic-exhalative origin of massif nickel-sulfide deposits at Redstone, Timmins, Ontario. //Geol. Ass. Can.Spec. Papers. N.25, pp.211-254. EC<:-}