Well that clinches it....
posted on
Sep 18, 2008 04:42PM
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)
Snezzer's report today solidifies something that a number of us have been thinking for some time. NOT is definitely not interested in revealing our assets too quickly. We'll drill around to find more stuff but we'll avoid any 43-101's so as to keep premature interest at a distance. NOT is now in stealth/long term mode in order to achieve their primary objective..... shareholder value. The market is likely the worst since 1929 and it needs to be calmed before anything will hold water. FWR had their nice P.R. and gained 16% to fall back to 8% at days end. The next day it lost that 8% and the day after dropped further. Are you getting the message? Quick profit and out. That is the only thing folks are looking for at the moment owing to the fear out there. The market is in a down trend and that's what you can expect from most of your stocks. This is not a fun ride folks....like I needed to tell you that, and it is, in my opinion going to be some time before we see reparation. It also appears that what NOT puts out for NR's seems to lack the P.R. zing we are expecting owing to the opening comments of this post. Things don't seem to add up. WF, the darling of many of our investors, seems to be becoming of questionable status, other than to bring in a little cash in light of IBK comments in B.C. We are not accustomed to this state of flux that NOT is in with the vagueness of issues, drill reports and status of various anomalies. If the market had been healthy, we would likewise have had a healthy sp with speculative value built into it to the extent that to worry about majors flying overhead would have been a welcomed occurrence. Popping out N.R.'s of even fair quality would have brought about further value to the sp. The opposite is the case though and no amount of bluster in this market would do anything to our sp other than to reproduce FWR's recent action. I would like to see great news simply because it feels good, but it wouldn't amount to much in the sp department. As far as "people not getting it" regarding chrome, the people who count most certainly are getting it, the others won't be getting anything other than the notion to run for the doors and protect their capital. If you think screaming about the value of chrome from the heighths will do anything in this environment, I wouldn't agree. No one wants to hear that this is going to take time but it may well be the case. If you are comfy holding your shares then all is well. If you are suffering because you've over extended then you'll have to learn that lesson and hold if you can or suffer some loss. The most important thing is to learn from these experiences and become a better investor/trader. Finally I'd have to say that a good number of posts on this site have lead people to unfortunate positions owing to over-the-top exuberance on this stock. It may be a very fine company, but there are realities and basics concerning risk that some have overlooked or ignored owing to the extreme optimism on this board. As much as some posters have skewered the shorts, bashers, etc. for "stealing" peoples money, the "perma" bulls are perhaps equally responsible for inflating people with unrealistic expectations and holding something longer than may have been advantageous for their situation. Everyone on this forum has thought " I wish I'd sold at $7"..... everyone. Selling at $6,$5,$4,$3,$2 would likewise have been a good deal. How many didn't because.... "what if we rocket tomorrow?" Many posters are guilty of perpetuating this unrealistic myth. As I said, if you are happy holding, this is fine, if you are not, you need to consider your psychology for future trades.