resignation of chair, page-25

The announcement re Chairman's resignation does read rather like a fairy tale, which ends with the wicked witch flying into a rage and stamping her way down through the floor, to vanishes into the depths of the earth. All that was missing was the closing sentence: "..and they all lived happily ever after"

The only real question though is: is there going to be a sufficient grade-width assay interval in the (very deep) porphyry section of this first drillhole to justify a large capital raising and a great deal of ongoing work to define the necessary immense resource and deep open pit.

It all hangs on those assays in the porphyry. The breccia pipes do not cut it on their own: they have the grade but not the tonnage potential.

Nobody can actually know at this stage what those assays will be.

But it is possible that the company's geologists have seen sufficient chalcopyrite, sufficient of whatever sulphide phase they know to be carrying gold in the overlying breccia pipes, or even (though less likely) sufficient spotty free gold, to actually be very confident that the porphyry grades are there.

So how could you find this out and be equally confident yourself??

You won't know from a couple of photos of the better boxed core intersections.

The company won't tell you.

So all you can do is 'watch the feet'

And what are the feet doing?

Well, the ex Chairman was hell keen to tip in an additional $1m at this point. So you have to ask yourself, how well informed was she. And you would have to think, as a member of the board and the largest shareholder, very well informed indeed.

But the ex Chairman has also left and freed herself up to buy and sell with impunity. So it will be very interesting to see what she does next.

If it's really that certain, she will not sell until those assay results come out, and may even hold in there a great deal longer.


What other feet can we watch?


How sure can we be?


And what other surprises might we get?


Any further suggestions anyone??


And have no illusions, nobody on any mineral exploration board is running a charity for the philanthropic benefit of small shareholders. They are all in it to exponentially increase their own personal wealth.

(But pay no serious attention to my musings. I am not a financial adviser, and this is not intended as financial advice)