Nitinat Schmitinat
posted on
Jan 17, 2009 12:58PM
As much as this company acts like some kind of enigma at times its important to not lose site of the forest because of the trees. Nitinat is virtually a non-issue. I don't plan on holding it if and whenever the regulators decide its a go. Its Langmuir or nothing right now. As I pointed out before what's in the company documentation is all we can count on for now. What's interesting to me is the commentary in the AIF just released. Once again the company points out that the "known zones of minearization are both open at depth and at length". That pertains of course to Langmuir One mine and the North Zone of course. What is most encouraging in this report is the stated completion dates. If this report has an effective date of Dec. 31, it says that continued drilling will continue on the North Zone for another 2-3 months!! For Langmuir One the company expects to continue drilling for a further 12-14 months. So we can expect future drill results will not be added into the forth coming resource estimate report. That tells me whatever the volume of nickel and other credits that we will see will still be lower than the actual amount. Not a surprise really. The AIF ends by stating that "as exploration of the Langmuir property is nearing completion near term expenditures will be substantially reduced". All we need now is a pretty ribbon and bow once Micon completes their report.