Establishing the Geometry......
posted on
Jun 29, 2011 07:54PM
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)
Friends,
Back in from a few days offshore to see the news release issued yesterday. Thanks to those that sent me those p.m.'s over the past suggesting my post of June 2 was fabricated for the sake of pumping this stock. And that my interpretation of when news would be coming, that I shared with this board, was misleading. So we have some news to chew on finally. To those that sent ill wishes.......... one star rewards for you as token of mynot's appreciation. I guess I won't be passing the Charmin anymore.
My discussion with Amanda that day was quite rewarding as far as getting a few basics answered. I suggest if you hold shares in NOT, pick up the phone and dial the office to get questions answered or to voice your displeasure with management, that is your right as a shareholder. There are a few characters positng on this board that seem to want to "inflame" or "deflate" the conversation regarding management as they see fit, again questionable whether they own any shares at all........
Mynot is still on the fence about this management team...and seemingly they are doing nothing to further my confidence in them after this latest release.
When they say "establishing the geometry" at AT12 it is a statement which for all intents means a failed drill program. Many on this board have theorized about the departure of the head Geologist and were correct in that he became the scapegoat by this management team for all the failures of the winter program. We can attribute a waist of about 2500 meters of drilling from what I can see, between the EN and AT12 drill holes.
Thank god they ended up only drilling 8K meters instead of the 10K they had planned and budgeted for, so they at least showed some conservation of cash. Not a complete waist as it has helped to further define the parameters of AT12. But what of the success at Eagles Nest - 3 holes? The drill just didn't prove their theory and they were probably too dependant on the ground surveys used. Now they have a new "plunge" theory and a new head geo. The technical commitee can point a finger at themselves as well, they must have backed this plan. The winter program is well reflected in the share price. That and the obvious fact it is being kept down until news from the province on the road and feasibility studies being completed.
Below are a few points about the latest release that I will be calling the office, myself, to find out for myself, about:
Stated results from 16 drill hole program, and I can only count 15 drill holes!! (7 holes at AT12, 3 at AT4, 2 at T-bird and 3 holes at Eagles Nest = 15. Is my math off.... am I reading this correctly.
Where is hole 16? They told us in the November NR that one drill would be at the WESTERN COMPLEX and then move to the Eagles Nest. There is no mention of that drill hole in this news release. Is that No. 16??
What is going on at the Western Complex.... very mysterious, imo. I had tried to get Amanda to tell me how many drill holes they had made in that area the last time we spoke. She was probably instructed not to say anything, she told me she "wasn't sure." It has puzzled me for some time, ever since they reported the one hole with anamolous AU and no reports of other minerals, ie: copper or Zinc in that mystery drill hole.
What is meant by limited testing at Eagle 2? They had just told us they had budgeted enough to get a resource estimate done.....
Can they please update the "about us" section, which is.... right below the certification paragraph from the CEO..... (Wes....if you read your own press release)... it should state we have a well financed drill program for 2011!!!! not 2010! Might as well add funded for 2012 while they are at it.
Claim staking action, why the hostile staking for and against.? Just proves their is no cooperation happening on the ROF playground.
So to restate....I am not a pumper for management nor a basher. On the fence but leaning hard..... Just a small retail fish swimming against the tide.
Still a big fan of what is proven in the ground.
Enjoy your summer all.
Warmest regards,
mynot