Just got off the Phone with "Critchy Clark".
posted on
Oct 11, 2007 07:34AM
(Edit this Message from the "Fast Facts" Section)
We spent the best part of 1 hour now I will try to address what he said. What I wanted to ask him was some of the questions the last poster did not. Put them both together. Great Guy at work at 6:am vancouver time.
1) Assay results: Shortly, with 2 rigs they are now thinking about every 2 weeks with 1 hole from the (2nd rig) east pit and one from the west (first rig).
2) The purpose of the 3rd rig: I asked "to define the deposit or step out? He said it is entirely at our disposal. But there are "gaps" to fill, and they have a qualified mining engineer to 43-101. He will say where it needs to go. If not then they will put it where it is needed. Need to find a crew for it. He said Falcon drilling really looks after them well. Also I guess they are from Prince Rupert works for them too.
3) Financing: No more than 2 or 3 million. They have to do this to finance the second and 3rd drill. With flow through shares. What I liked was they were trying for about $1.50+. "B" warrants were exercised "out of the game". The PP will not likely go to "the house we all love to hate"!
4) Germany: I asked how it went over there. From what he could tell very well. Infact with discussions he had lots of interest in TTQ. And offers for financing as well.
5) Reason for sudden share price increase: He believes it is mostly because of more investors/firms becoming aware of our situation. He says some of it is being open and taking the time to talk to investors like myself! That is great as there is still all that news to come that is not priced in. I asked yesterday to talk to somone in IR, he called left a message to call him back in the AM: I have respect for a CEO to take the time to return my call when I did not ask to summon him in the first place.
6) TCM geologists on site: This came as a bit of a shock to me. They are there to stake out other anomolies one to the north and one to the south. Lots of the property yet to be discovered.
7) Buyout,JV,go it alone= DIRECTORS MEETING NEXT WEEK. These are the very issues they want to discuss. As the property expands there are many decisions to be made. Each assay result may create another scenerio? They have had offers already. As Critchy said "I had a company make me an offer and I said that will not be enough", the guy replied, I know but if you happen to take it I would write you a cheque right now." We both agreed, we do not want to give this away while there is so much more of the property left unexplored. For now I would definately put a "buyout" on hold, but down the road definately "something will happen"!
8) Copper: Not an issue, infact they may be able to sell copper as a buy product to finance "transportation costs"????
9) Road to TCM: I asked is it "economically feasible" to truck ore to endako? His reply was very quickly a "yes". He said that there is a road that crosses a 'kenny dam road'? He said it is about 90kms from ttm to endako. 60kms of the 90 has a road already. I said what kind of road is it. Radio controlled but very good. Infact he rented an SUV and drove it himself. He was nervous not having a radio then he came upon a truck hauling a conveyor and decided to follow him. Crithcy was going 75kms an hr. the truck then left him he fiqured it was going about 90 kms pr hour. It is a private road. Now we just have about 30 kms to go. This point the conversation got interesting as there are two solutions. The first and most obvious is build a road the rest of the way, or use a conveyor? I asked has this been done before over this distance and he said yes, he mentioned I believe a coal mine(cannot remember the name has done this. I asked it must cost a fortune, my comments were how many bearings to maintain. He said that in the end you own the conveyor? If it was totally absured he would not of mentioned it? But I am guessing building a road would make more sense? Anyway TCM just seemed to get a 'whole lot closer'...
Thats about it, you can only scribble so many notes in a long converstation that we had. I asked all the 'tough' questions I could and posted everything. I am going by memory and every small detail may not be 100% correct but very close.
I think today may be getting to be close to the last days of buying TTQ in the "bargain bin".
My conclusion: I bought a whole bunch more this morning!!!!!
BBOB