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Message: Some notes

Some notes

posted on Mar 31, 2010 11:14PM

1) WestGeraldton - pretty obvious it's a bust and not worth any focus. Still need to come back later and poke a few holes with the Portage shear zone and Premier's Hardrock property nearby. It's just too prospective an area to completely walk away from but low priority

2) Milestone - I've updated my grade tables. The grade is trending down a bit but they have extended the strike. Still neutral about whether it will develop into a solid project. The visible gold in two zones plus the 200 m shear zone thickness is interesting in the MS10-14 core. Visible is good evidence for higher grade so those results could change the picture. Milestone needs some long intercepts with > 1 g/t to generate some excitement.

3) Resource estimate - It appears the consultant had been promising delivery by today so it's arrival is imminent, like tomorrow or next week. My estimates seem to be on the more optimistic end of the ranges posted so we'll see. I don't see it as a non event from the share price side. Obviously the expectations have dropped a lot so we could get a pleasant surprise from a decent result( mix of indicated and inferred numbers).

Kodiak is making efforts to release data in a more timely manner so I appreciate it. Hard to believe 1.4 million shares didn't move the price.

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Apr 01, 2010 10:35AM
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