Luncheon - My Take
posted on
Aug 20, 2009 08:18PM
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)
Thanks for the update Milsey. I'd like to add a couple of observations and thoughts of the luncheon.
First I was very impressed by Mr Hanson. The fact that he took time to come over and talk to us prior to the start of the luncheon was a very positive first step in our relationship. His demeanor during our short meeting was very open and straighforward. He was certainly not afraid to talk to retail.
Wes's presentation was very polished. You can see that hes not afraid to stand up in front of a large group of people ( 172 I believe) and was very much up to speed on the company. He was solid in his knowledge and presentation.
He spoke at length about the first 100 days....this is critical in any company. What you do now, paves the path to the future. It certainly looked to me that they are well organized and have a plan.
He spoke about money in the bank and an aquisition strategy. I like the sounds of that.They are in position to pick off some minor players in the area should they choose.
He spoke about Eagle 1a,b,c and referred to them as Eagles NEST, we now have a new name to associate with this area around Eagle 1. He also mentioned that 85 cents of every dollar is being spent on this area. This company is "ALL IN" to prove up this area. He also mentioned that at todays dollar rate that Eagle 1 is worth 1500 per ton. Nice numbers, Lastly he said that this latest drilling is a "GAME CHANGER" and ranks as one of the worlds high grade deposits.
He then showed us a great conceptual video of what the website will present in the future. 3d drawings that were quite impressive in the modelling. This is in development and should be on the website in ealy 2010.
the Q&A went pretty well. A number of questions were asked and Wes answered as best he could, I think he told us what he could and you have to give him credit for fielding the tough questions. From the questions we learned that they had drilled to hole 58. He wouldn't answer my question on why its taking the company so long to get to the tsx when this was mission critical for the previous co-ceo's. He just said that hes not allowed to talk about it. ( as per standard operating practice)
Perhaps the best vote of confidence came after the meeting, I had a few minutes to speak to Elaine ( Richards right hand lady) and I asked her what she thought of things 10 months after the power struggle. She observed that we are today where Richard envisioned us to be. With strong leadership, a strong team and a purpose and direction. I'd have to say that I too feel the same way. I feel much more confident in our team then I did in November of last year.
Regards
Storm