Today's posts
posted on
Apr 25, 2008 07:58PM
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Holy mackerel, or holy something – I’ve come home and been able to take some time and read many of todays posts!
For a long time, I’ve been convinced that one way in which the world would be far better off, would be for men to be prohibited from running countries. QQ Girl, Notie Girl and Lucky Lady (?) provided more evidence for my theory today, than I've ever been able to come up with. They provided the most lucid posts today. Rather than post 15 times, ranting about this or that, they posted just once or maybe twice and hit the nail on the head (especially with respect to attitude)! The guys, on the other hand, were ready to start WWIII! Let's fight one another, let's pick each other's posts apart, let's sue the lab (hey, a class action no less!), let's burn the people that are making our lives miserable!
But, being a guy, I need to say something further, which wouldn’t be necessary if I were of the gentler sex. First, I think the NR was fine, it was no doubt written thoughtfully by management and edited carefully by legal counsel. No need to praise it excessively (are we all that cynical that we must stand and applaud when we think integrity is involved in the running of a company – okay, don’t answer that!). The NR was just that, some news that explained why the company has been unable to release assay results. Nothing to laud, nothing to vilify, just doing good business.
I’m not at all certain NOT was legally bound to give us that NR, but I think it was de facto necessary to forestall what would make a food riot seem like a tea party from happening right here on this board. In any event, it surely prevented a number of strokes and heart attacks. And what led to all the anticipation for the assay results? Well, a lot of it was built up right here on this board (I'm no different, I was sure as heck looking for it day to day). But just because a company tells you they anticipate having results on something by an approximate date, doesn’t mean that if they don’t have that info by that date, they are obligated to tell you why (if you don't realize this, just wait till we're waiting for the 43-101). Now, NOT couldn’t hide bad results, that’s clear, but they had, in effect, NO RESULTS, so there’s not much to say.
As far as RN and other management of NOT (I guess we have to add in all associated with NOT who have access to telephones, telegraph keys or carrier pigeons), but especially RN, well, I hope he?s a real good miner, and a pretty good fund raiser. But does he also have to be a great PR guy, does he have to know exactly what to say, how far to go, and how to phrase it, when he gets half dozen phone calls a day from just those people we know about on this board! And come on people, we know how it is when you hear something someone said and then rebroadcast it to others ? there?s always a little bit of subjectivity that sneaks into the recounting, again, not intentionally trying to mislead, but it just happens and everyone knows it and no one here hasn?t done it many times in life. "I know what RN said, but I'm sure this is what he meant to say."So, I’m sure the company knew for some time the assays were messed up; and for a while, the lawyers probably said, “no need to disclose,” but faced with the phone calls and, worse yet, the reporting of the phone calls on public message boards, on bathroom stall doors, sky-written over Fleet Street, along with the retched, pathetic pleas for some NR, any NR from the peanut gallery, the lawyers probably said, “yeah, we’d better put something out there.” I’m sure they hate to issue an NR primarily because of a bunch of fanatics on some message boards, but it was very likely the proper way to go.
I’m glad they released the NR, it was not a big surprise, and I agree with those that liked the stock action today, as we may well have hit a bottom, at least until we get some substantive news (in case anyone is still not aware, there is no absolute guarantee the next substantive news will be the fantastic news about which so many are dreaming).
Okay, having said all that, when the heck are we going to get the accurate assays? LOL!