posted on
May 05, 2010 10:13PM

Massive Black Horse Chromite Discovery
Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%

Message: SP?!?!?
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Hi Trace,
Stevie is right about people jumping off.
imo, what we have lost some sight of here, is the built in value that was apportioned to both spq and kwg in anticipation of the 43-101.
people have been creating an expectation of the contents of the 43-101 that has been built into the share price over the last few weeks. Some expected a share price jump upon it's release but the over hyping of the contents could not be backed up no matter how good the NR.
The spq board on SH has had constant pumping backed by voo doo geology and expectations of chinese buyers and "majors" readying offers.
Nonsense!
This is a good stock to hold as there is proven value in the ground......period
the speculators jump in on pump and lose their nerve immediately. What we have to be, is realistic about the honest value of the in situ resource based on past valuations. silly numbers like 10% are being pumped to investors.
Gold and copper don't even sell at these numbers for in situ properties that are remote and devoid of infastructure. FWR was sold on less than 1/2 a percent. Even if cliffs "stole" the company for half price we still don't get to 1%. get real!
Someone needs to do a serious calculation based on proven/probable and inferred reserves. once we establish what we are worth then some realism can be brougth to the discussion.
.imo......Carry
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