HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

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)

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Message: Re: It's interesting that....
17
Mar 06, 2010 07:25AM
12
Mar 06, 2010 08:30AM

Rosehill, of all the posts regarding the big drills and continued drilling you state the closest opinion to mine.
Yes I am disapointed that we were not able to get the big ones in but if they were to be delivered and then stand idle because of lack of energy to operate them then great, I am also content that they are not in our possession.

They are needed to give us an idea as to how far the limits of Eagle resourse extend. Knowing that those limits are way further than present means a large extension of the resource and thus an assurane that we would be much more valuable than today. The smaller drill can not do that. All they can do is in-fill what we already know or are confident of.
Just consider the possibility that at depth not only does the quality improve but that there may be a connection between the resources ( common source due to common causality).

Yes the in-fills are necessary but that is for a feasability study and a resource report. But these are not likely to cause me to do hand stands and go wild at aquiring more shares as a doubling, or even tripling, of the resource that the big drills could provide. Per example of hole 49.

No I do not require a 100% confidence to go wild. If I have anything close to a 50% I will be more than content and I suspect most of the investors would feel ( er jump at ) also.

Also true that present drills could be used on the other prospects, but again I want to see action where I feel we have the greatest chance of improvement instead of the longer odds. The others should wait their turn or be a fall back from the Nest.

It is quite normal to be impatient for the better prospects, jmho.

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